Home sales post double-digit increase

Homes sales in the Sarasota-Bradenton market put in another double-digit increase during August, with 23 percent more homes changing hands compared with this time last year.

Prices, however, gave some ground, dropping 8.5 percent to $164,200 when compared with July. The median sales price was down 25 percent from a year ago, according to data released Thursday by the Florida Association of Realtors.

In Charlotte County-North Port, sales rose 31 percent compared with a year ago. Prices dropped 1.6 percent to $103,300 when compared with July and were down 25 percent from a year ago.

Statewide, sales rose 28 percent, with 13,850 homes changing hands, the 12th consecutive month of rising sales. The median sales price was $147,400 in August, down 22 percent from the same time a year ago.

But home resales nationally dipped unexpectedly last month after a four-month streak of gains, providing evidence that the housing market recovery remains fragile.

The National Association of Realtors said that sales dropped 2.7 percent to a seasonally adjusted annual rate of 5.1 million in August, from a pace of 5.24 million in July.

Sales, which were still up 3.4 percent from a year earlier, had been expected to rise to an annual pace of 5.35 million, according to economists surveyed by Thomson Reuters. – Sarasota Herald Tribune

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