Q2 2021

Sarasota
Real Estate
Market Update
Volume 4 Issue 3

This is not intended as solicitation for properties currently in an exclusive agreement with another Broker
Copyright © 2021 David Ranck LLC
 July, 2021 Volume 4 Issue 3

In This Issue:
Real Estate Apples and Oranges ................................................................. 3

New York City to Florida Relocations: Flight or Hype? ................................. 4

Florida’s May Housing Market Strong .......................................................... 5

Spotlight: Sarasota County........................................................................... 5

Local Market Statistics ................................................................................. 7

Key to Market Statistics ......................................................................7

Sarasota, Lakewood Ranch, The Islands and Venice Combined Stats ....... 8

Sarasota, Venice, Lakewood Ranch and the Islands Data ..............13

Sarasota Market Stats ................................................................................ 14

Lakewood Ranch Market Stats .................................................................. 16

The Islands and Downtown Market Stats ................................................... 18

Venice Market Stats ................................................................................... 20

Resources .................................................................................................. 22 Visit us at:

VictoriaSellsSarasota.com
Watch the Video! ........................................................................................ 22

Meet the Ranck Team................................................................................. 23

Watch the Video!

View the video
Click on the image or open this link:

https://ranckhomes.com/Market-Update

Copyright © 2021 David Ranck LLC

 Volume 4 Issue 3
Real Estate Apples and Oranges
Whenever we go to a party or
event, we are routinely ques-
tioned about the Real Estate
Market. Our friends often tell us
what they read online or heard
on the news about the state of
the market. Usually, the infor-
mation they have received refers
to the national market but ap-
plying national data to our local
market rarely works.
Why not? The Real Estate Mar-
ket is Hyper-Local. It differs
from state to state, area to area
and even between neighbor-
hoods in the same town. Com-
paring our local market with the
New York City market can be
like comparing oranges with
apples (pun intended).
“Home sales fell moderately in
May and are now approaching
pre-pandemic activity,” says
Lawrence Yun, NAR’s chief
economist. “Supply is expected
to improve, which will give buy-
ers more options and help tamp
down record-high asking prices
for existing homes.”
In Sarasota and Manatee coun-
ties however, sales have contin-
ued to increase to a peak of 5,110
sales in the second quarter of
this year. The number of active
listings has dropped from 6,281
in June of last year to just 1,678
this June, and continues to de-
crease.
Nationally in May the inventory
of homes on the market in-
creased by 7% while our local
inventory has continued to de-
crease to less than one month of
inventory available for sale.
The Real Estate Market is Hyper-Local. It differs from
state to state, area to area and even between neigh-
borhoods in the same town.
This May all-cash transactions
accounted for about 23% of
homes sales at the national
level. In Sarasota county, 52%
of home sales were all-cash
transactions. That’s almost
double the national average.
Hillsborough county, just to
our north, had cash sales
comprise just 27% of home
sales transactions in May.
The number of homes sold in
Hillsborough is up 28% over
last year while the number of
Sarasota sales is up 41% over
last year. Why does our area
seem so different, even from a
nearby county?
Copyright © 2021 David Ranck LLC
Page 3
Some drivers behind these dis-
tinctions are familiar: Snow-
birds, retirement, vacation
homes and investors in rental
homes. But new forces are at
work as well.
Historically, cash sales are high
in our area, but they have in-
creased by at least 5% this year.
This may be due in part to the
influx of buyers from other
states such as New York, who
are seeking refuge from the
events of 2020 and from high
taxes (see “New York City to Fla.
Relocations: Flight or Hype?”
below). Florida, according to U-
Haul, is the top move-to state in
the country. Sarasota is the
number one retirement destina-
tion in the U.S. and of course we
have the number one beach in
the U.S., Siesta Key.
Retirees are not the only buyers
coming to Sarasota. Working
from anywhere is a new norm
that allows workers to choose
where they live instead of being
forced to live within commuting
distance of their office.
The bottom line: review our lo-
cal stats and market influences,
and don’t depend solely on na-
tional news to better understand
our local real estate market.
 Volume 4 Issue 3
New York City to Florida Relocations: Flight or Hype?
Florida Realtors economist: Flor-
ida’s population benefited from
residents leaving New York City,
but other states experienced gains
too – some with triple-digit in-
creases. With Fla. migration, resi-
dents of NYC’s Manhattan flocked
in the highest numbers.
ORLANDO, Fla – Are New York-
ers, specifically those from the
city, coming to Florida? Yes!
Are all New York City residents
fleeing to the Sunshine State?
No. Florida had a significant in-
crease in movers from NYC in
2020, but many states benefit-
ted from the area’s out-migra-
tion.
Although definitive migration
data, such as information
tracked by the U.S. Census Bu-
reau, is not yet available for
2020, change-of-address filings
from the United States Postal
Service (USPS) provide insight
into the patterns expected once
that data comes out.
Before diving into the data, a
few nuances should be noted:
Permanent residential change-
of-address filings (combining
both individual and family) are
not a perfect measure of people
moving. First, individuals filing
represent one mover, but the
number of people associated
with one family filing cannot be
determined. Additionally, dupli-
cate filings could occur (such as
a family with different last
names at the same address), or
Page 4
a mover may not submit a filing 2018. Two states that deviated
with the USPS at all. from their typical apportion-
ment were Connecticut with
Migration patterns for most of 7.6% (5.6% in 2019) and Cali-
the U.S. were remarkably similar fornia with 9.3% (11.5% in
in 2020 to those of both 2018 2019).
and 2019. However, a few
densely populated cities experi- While state shares remained
enced a dramatic change of fil- steady, the total number of New
ings compared to prior years. York City movers to Florida still
According to USPS permanent increased roughly 41%. Some
filings, the number of individu- states (those nearby like Ver-
als and families leaving New mont, New Hampshire, Maine
York City for a new state to call and Connecticut) saw triple-
home jumped 47% from 2019 to digit gains in the number of
2020. movers.
To add perspective in “people Out of New York City’s five bor-
terms,” that’s an additional oughs, Manhattan had the
58,000 individuals and 11,000 largest increase (71%) in out-
families leaving the Big Apple! of-state permanent change-of-
address filings in 2020. There
Yet while the number of perma- were over 9,500 filings by Man-
nent change-of-address filings hattanites moving to Florida in
by New York City residents 2020, a staggering 81% increase
leaving for other states in- from 2019.
creased in 2020, there was little
change in which destination Where specifically are these
states they chose. For instance, wealthy Manhattanites migrat-
Florida’s share of NYC movers ing in the Sunshine State? For
in 2020 was 12.2% compared to the most part, they’re moving to
12.7% in 2019 and 12.4% in the same places they always
The number of reloca-
tions from New York to
Sarasota County have
more than doubled in
2020.
In Manatee County the
number homeowners
relocating from New
York has increased by
169%!
Copyright © 2021 David Ranck LLC
 Volume 4 Issue 3
have, just in greater numbers.
Headlines circulating in news-
papers focus on a flock of
wealth to Miami, and it’s true
that South Florida continued to
charm the most Manhattanites
to its sunny shores. Miami-
Dade, Palm Beach and Broward
counties raked in an additional
2,710 residential filings in 2020.
On the whole, Florida saw an
increase of approximately
4,300, so South Florida accounts
for over half of the state’s gain.
In percentage terms, though,
most counties throughout the
state saw significant increases
in relocations from Manhattan
in 2020. Some of the largest in-
creases occurred in coastal
counties with ample amounts of
low-density luxury develop-
ment, particularly in Southwest
Florida and along much of the
Atlantic coast from Jacksonville
down to the South Florida metro
area.
The Florida Keys saw the largest
increase, however, with address
Florida’s May Housing Market Strong
Florida Realtors’ data: May had
more closed sales, more new list-
ings and higher median prices (up
27.7% for single-family homes,
24.1% for condos) than a year ago.
ORLANDO, Fla. – Florida’s
housing market continued to
report more closed sales, higher
median prices, more new list-
ings and increased pending in-
ventory compared to a year ago,
according to Florida Realtors®
Page 5
changes from Manhattan to benefited from increased mi-
Monroe County increasing by gration out of the Big Apple in
208% from 2019 to 2020. 2020.
These figures suggest that af- As vaccine distribution contin-
fluent Manhattanites are mak- ues through 2021, we’ll see if
ing a significant impact in the pull to leave the city is as
Florida’s luxury home market – strong in 2021 and what slice of
and Florida Realtors® is seeing the pie Florida can attract.
it in the housing market data.
Erica Plemmons is a Florida Re-
The association’s year-end sta- altors economist and Director of
tistics revealed that over 16,000 Housing Statistics
Florida homes sold for at least
$1 million in 2020 – a 46% in- © 2021 Florida Realtors®
crease from 2019. It’s likely that
many of these additional buyers
came from Manhattan, includ- Spotlight: Sarasota County
ing many second or vacation
homebuyers who did not per-
manently relocate to Florida
(yet, at least).
The biggest winner of the exo-
dus from New York City depends
on how you look at the data.
Some states had larger volume
increases from 2019, while oth-
ers saw greater percentage
growth. But it’s evident Flor-
ida’s real estate market, pri-
marily in the luxury segment,
latest housing data. Note that this
month’s May 2020 comparison
data reflects the state lockdown
and economic uncertainty that oc-
curred last spring during the
coronavirus pandemic.
“In May, Florida’s housing market
continued to show strong year-
over-year gains,” says 2021 Flor-
ida Realtors President Cheryl
Lambert, broker-owner with Only
Way Realty Citrus in Inverness.
Copyright © 2021 David Ranck LLC
 Volume 4 Issue 3
“Of course, in May 2020, Florida
remained under lockdown and
was feeling the effects of the
pandemic. Median prices con-
tinue to rise: Part of the reason
is that the state is experiencing
a greater share of luxury sales in
2021 compared to a year ago,
but overall home price appreci-
ation is also a big factor pushing
costs higher.”
Closed sales of single-family
homes statewide in May totaled
30,985, up 57.9% year-over-
year, while existing condo-
townhouse sales totaled 15,491,
up 155.2% over May 2020.
Closed sales may occur from 30-
to 90-plus days after sales con-
tracts are written.
The statewide median sales
price for single-family existing
homes was $344,900, up 27.7%
from the previous year, accord-
ing to data from Florida Realtors
Research Department in part-
nership with local Realtor
boards/associations. Last
month’s statewide median price
for condo-townhouse units was
$250,000, up 24.1% over the
year-ago figure. The median is
the midpoint; half the homes
sold for more, half for less.
May’s housing data offered in-
sight into market trends, ac-
cording to Florida Realtors Chief
Economist Dr. Brad O’Connor.
“Florida’s inventory of existing
single-family homes listed for
resale increased slightly over
the course of the month, rising
from 31,618 as of the end of
April up to 32,021 by May 31,”
he says. “While that’s only a lit-
tle over a 1% increase, it’s sig-
nificant because this is the first
time Florida’s single-family in-
ventory has increased during
any month since March of 2020.
It comes on the heels of only a
very slight month-over-month
statewide decline of just 40 sin-
gle-family active listings (in-
ventory) from March to April. So
that’s two consecutive months
where the state’s single-family
inventory has been relatively
stable.
“Of course, we are still down
58.2% compared to a year ago,
so we are by no means out of
the woods in terms of the hous-
ing shortage – but we can at
least take this flattening inven-
tory curve as a sign that we
might finally be at the start of a
long march back toward a bal-
anced market.
O’Connor explains one reason
the decline in single-family in-
ventory appears to have stopped
is that the number of existing
homes being listed for sale each
month generally continues to be
in line with recent historical
norms prior to the pandemic.
“During May, 34,298 single-
family homes came onto the
market, which is only 179 fewer
new listings than in May of
2018, and just 212 more than
May of 2019,” he says. “At the
same time, the number of sin-
gle-family homes going under
contract each month, which has
been well above historical pre-
pandemic norms since June of
last year, has been slowly but
Copyright © 2021 David Ranck LLC
Page 6
surely trending back toward
those norms in each successive
month of 2021.
“This reversion toward histori-
cal norms in the level of
contract signings is a strong in-
dicator that monthly counts of
closed single-family home sales
will also move back toward
more normal levels, and this
appears to have started in
earnest in May.”
On the supply side of the mar-
ket, inventory (active listings)
remained tightly constrained in
May. Single-family existing
homes were at a very low 1.1-
months’ supply while condo-
townhouse inventory was at a
2.0-months’ supply.
According to Freddie Mac, the
interest rate for a 30-year
fixed-rate mortgage averaged
2.96% in May 2021, down from
the 3.23% averaged during the
same month a year earlier.
To see the full statewide hous-
ing activity reports, go to the
Florida Realtors’ Newsroom and
look under Latest Releases or
download the May 2021 data re-
port PDFs under Market Data on
the site.
© 2021 Florida Realtors®
 Volume 4 Issue 3 Page 7

Local Market Statistics

Real Estate is Hyper-Local.
While national and state histor-
ical data and trends are inter-
esting and important, local
trends can be quite a bit differ-
ent. The following pages show
the actual MLS data from the
Sarasota area, Lakewood Ranch,
the Islands and Venice.
Because of the hyper-local na-
ture of Real Estate, we’ve di-
vided the data into 5 sections:
●Summary of the Entire Area
●Greater Sarasota
●Lakewood Ranch
●The Islands and Downtown
●Venice
We’ve included the data for this
quarter, last quarter and corre-
sponding quarter last year. Each
section has graphs showing the
history and trends for:
●Number of Sales
●Median Price
●Average Days on Market

Key to Market Statistics

Terms Used: Abbreviations:

Yr Change ADOM
The change over the same pe- Active Days on Market
riod last year
Avg
Qtr Change Average
The change over the last quarter
Med
Active Days on Market Median
The period of time from the first
date listed to when the home PPSF
went under contract Price per square foot

Condo SFH
Condominiums, Villas and Single Family Home
Townhomes.

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Copyright © 2021 David Ranck LLC

Volume 4 Issue 3 Page 8

Sarasota, Lakewood Ranch, The

Islands and Venice Combined Stats

Sarasota, Lakewood Ranch, Islands and Venice Home Sales

All 2Q21 2Q20 Yr Change 1Q21 Qtr Change
Closed Sales 5,110 3,031 40.7% 4,744 7.2%
Average Price $632,268 $423,242 33.1% $587,966 7.0%
Median Price $401,050 $318,000 20.7% $374,900 6.5%
Average PPSF $296 $210 28.9% $281 5.1%
Median PPSF $226 $175 22.6% $206 9.0%
Average DOM 36 79 -119.4% 58 -61.1%

SFH 2Q21 2Q20 Yr Change 1Q21 Qtr Change

Closed Sales 3,022 1,984 34.3% 2,692 10.9%
Average Price $688,307 $473,451 31.2% $635,955 7.6%
Median Price $459,000 $350,000 23.7% $425,000 7.4%
Average PPSF $279 $206 26.1% $255 8.8%
Median PPSF $231 $181 21.9% $211 8.8%
Average DOM 30 76 -153.3% 50 -66.7%

Condos 2Q21 2Q20 Yr Change 1Q21 Qtr Change

Closed Sales 2,088 1,047 49.9% 2,052 1.7%
Average Price $546,678 $328,099 40.0% $525,010 4.0%
Median Price $315,000 $248,000 21.3% $289,500 8.1%
Average PPSF $318 $217 31.6% $315 0.9%
Median PPSF $212 $164 22.6% $191 10.0%
Average DOM 44 86 -95.5% 68 -54.5%

Copyright © 2021 David Ranck LLC

 Volume 4 Issue 3 Page 9

Number of Sales Trend

NUMBER OF SALES
5500

The number of sales across the 5000

region rose again in the 2nd 4500
quarter of 2021. Even with the
low inventory, homes are still- 4000

ing selling at a fast rate. Multi- 3500

ple offers are still common.
3000

2500

2000
2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21

Sales Forecast

MEDIAN PRICES Median Price Trend

$435,000
Across the region, median prices $415,000
have continued to rise with the
$395,000
median price now at $401, 150.
$375,000
This is up 20.7% over last year’s
median price. However, not $355,000
shown here is that the average $335,000
price of new listings in Sarasota $315,000
has dropped 8% in the last 2
$295,000
months. The price of new list-
$275,000
ings tends to be a leading indi-
2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21
cator. Will we see sales prices
begin to level out? Median Price Forecast

Average Days on Market Trend

AVERAGE DAYS ON MARKET
120

The average days on market 100

continues to fall with homes
still selling within days of com- 80

ing to market. 60

40

20

0
2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21

ADOM Forecast

Copyright © 2021 David Ranck LLC

 Volume 4 Issue 3 Page 10

ADOM by Price Range

80
70
60
50
40
30
20
10
0

ADOM

Sales by Price Range

800
700
600
500
400
300
200
100
0

Sales

Copyright © 2021 David Ranck LLC

 Volume 4 Issue 3 Page 11

Historical Months of Inventory

10

0
Jan, Mar May Jul Sep Nov Jan, Mar May Jul Sep Nov Jan, Mar May Jul Sep Nov Jan, Mar May Jul Sep Nov Jan, Mar May
2017 2018 2019 2020 2021

Historical Count of Active Listings

12,000

10,000

8,000

6,000

4,000

2,000

Copyright © 2021 David Ranck LLC

 Volume 4 Issue 3 Page 12

Historical Sales by Months

3,000

2,750

2,500

2,250

2,000

1,750

1,500

1,250

1,000

750

500
Jan, Mar May Jul Sep Nov Jan, Mar May Jul Sep Nov Jan, Mar May Jul Sep Nov Jan, Mar May Jul Sep Nov Jan, Mar May
2017 2018 2019 2020 2021

Median Sales Price Trend

$400,000

$350,000

$300,000

$250,000

$200,000

$150,000

$100,000

$50,000

$0

Copyright © 2021 David Ranck LLC

 Volume 4 Issue 3 Page 13

Sarasota, Venice, Lakewood Ranch and the Islands Data

All Types 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21
Sales 4062 3286 3214 3330 3031 4219 4660 4744 5110
Avg Price $407,516 $396,280 $416,617 $441,667 $423,242 $470,157 $508,855 $587,966 $632,268
Med Price $300,993 $300,000 $310,000 $317,500 $318,000 $335,000 $360,000 $374,900 $401,050
Avg PPSF $209 $200 $211 $228 $210 $226 $238 $281 $296
Med PPSF $170 $169 $172 $180 $175 $184 $192 $206 $226
ADOM 97 94 86 81 79 84 70 58 36

SFH 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 3Q20
Sales 2626 2206 2024 1989 1984 2767 3005 2692 3022
Avg Price $448,333 $434,300 $457,894 $464,098 $473,451 $524,909 $576,002 $635,955 $688,307
Med Price $335,000 $333,375 $343,750 $350,000 $350,000 $376,000 $403,040 $425,000 $459,000
Avg PPSF $200 $196 $200 $207 $206 $226 $233 $255 $279
Med PPSF $174 $174 $176 $183 $181 $191 $199 $211 $231
ADOM 96 88 81 80 76 80 0 0 0

Condo 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 3Q20
Sales 1436 1080 1190 1341 1047 1452 1655 2052 2088
Avg Price $332,875 $318,620 $346,411 $408,396 $328,099 $365,819 $386,935 $525,010 $546,678
Med Price $237,852 $232,377 $245,000 $256,500 $248,000 $249,450 $270,000 $289,500 $315,000
Avg PPSF $226 $210 $230 $258 $217 $226 $248 $315 $318
Med PPSF $159 $156 $161 $169 $164 $166 $177 $191 $212
ADOM 99 105 95 84 86 93 85 68 44

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Volume 4 Issue 3 Page 14

Sarasota Market Stats

Sarasota Home Sales

All 2Q21 2Q20 Yr Change 1Q21 Qtr Change
Closed Sales 2,233 1,347 39.7% 1,983 11.2%
Average Price $479,067 $339,667 29.1% $435,225 9.2%
Median Price $357,000 $282,500 20.9% $335,000 6.2%
Average PPSF $231 $178 22.9% $210 8.9%
Median PPSF $210 $169 19.5% $194 7.7%
Average DOM 30 76 -153.3% 58 -93.3%

SFH 2Q21 2Q20 Yr Change 1Q21 Qtr Change

Closed Sales 1,424 900 36.8% 1,218 14.5%
Average Price $604,089 $396,766 34.3% $552,778 8.5%
Median Price $430,050 $330,000 23.3% $410,000 4.7%
Average PPSF $257 $190 25.9% $235 8.4%
Median PPSF $231 $181 21.6% $210 9.1%
Average DOM 30 72 -140.0% 52 -73.3%

Condos 2Q21 2Q20 Yr Change 1Q21 Qtr Change

Closed Sales 809 445 45.0% 765 5.4%
Average Price $259,003 $222,940 13.9% $248,062 4.2%
Median Price $236,000 $210,000 11.0% $224,400 4.9%
Average PPSF $185 $152 17.8% $170 7.9%
Median PPSF $178 $149 16.3% $163 8.5%
Average DOM 30 83 -176.7% 66 -120.0%

Copyright © 2021 David Ranck LLC

 Volume 4 Issue 3 Page 15

Number of Sales Trend

NUMBER OF SALES
2500
2300
The number of sold homes con-
2100
tinues to rise and has increased
1900
11.2% over last quarter. Histori-
1700
cally May is the month with the
1500
most closings so perhaps this is
1300
not that surprising. But sales
1100
are up almost 40% from last
900
year. 700
All 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21
Types

Sales Forecast

MEDIAN PRICES Median Price Trend

$385,000
Median prices in Sarasota are up $365,000
by 20.9% over last year with the
$345,000
median price now at $357,000.
$325,000
The single family home median
price is $430,050 and the me- $305,000
dian Condo price is $236,000 $285,000
$265,000
$245,000
$225,000
2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21

Median Price Forecast

Average Days on Market Trend

AVERAGE DAYS ON MARKET
100

Days on market is still plum- 90

meted as homes are sold almost 80
as fast as they come on the 70
market. We have buyers waiting 60
in line to make an offer on
50
homes as soon as they are avail-
40
able.
30
20
2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21

ADOM Forecast

Copyright © 2021 David Ranck LLC

Volume 3, Issue 3 Page 16

Lakewood Ranch Market Stats

Lakewood Ranch Home Sales

All 2Q21 2Q20 Yr Change 1Q21 Qtr Change
Closed Sales 805 566 29.7% 830 -3.1%
Average Price $548,402 $432,463 21.1% $477,219 13.0%
Median Price $425,000 $349,450 17.8% $392,750 7.6%
Average PPSF $230 $184 20.3% $208 9.9%
Median PPSF $215 $174 19.0% $194 9.7%
Average DOM 24 74 -208.3% 49 -104.2%

SFH 2Q21 2Q20 Yr Change 1Q21 Qtr Change

Closed Sales 600 446 25.7% 596 0.7%
Average Price $638,619 $479,222 25.0% $556,971 12.8%
Median Price $503,000 $389,000 22.7% $455,000 9.5%
Average PPSF $245 $189 22.8% $221 9.6%
Median PPSF $228 $175 23.1% $209 8.5%
Average DOM 23 72 -213.0% 41 -78.3%

Condos 2Q21 2Q20 Yr Change 1Q21 Qtr Change

Closed Sales 205 120 41.5% 234 -14.1%
Average Price $284,355 $258,676 9.0% $274,090 3.6%
Median Price $281,895 $241,499 14.3% $259,355 8.0%
Average PPSF $189 $164 13.1% $173 8.2%
Median PPSF $188 $163 13.3% $168 10.6%
Average DOM 28 79 -182.1% 69 -146.4%

Copyright © 2021 David Ranck LLC

 Volume 4 Issue 3 Page 17

Number of Sales Trend

NUMBER OF SALES
1000

Unlike other areas in the region, 900

sales in LWR have cooled 800
slightly from a high of 830 at
700
the end of last year to 805 this
quarter. 600

500

400

300
2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21

Sales Forecast

MEDIAN PRICES
Median Price Trend
$440,000
Sales may be down a bit in LWR
$420,000
but the median price continues
to climb. The median home $400,000
price in LWR is now $425,000.
$380,000

$360,000

$340,000

$320,000
2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21

Median Price Forecast

Average Days on Market Trend

AVERAGE DAYS ON MARKET
110
100
LWR average days on market
90
fell by more than 208% over last
80
year!
70
60
50
40
30
20
2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21

ADOM Forecast

Copyright © 2021 David Ranck LLC

 Page 18

The Islands and Downtown

Market Stats

Islands and Downtown Home Sales

All 2Q21 2Q20 Yr Change 1Q21 Qtr Change
Closed Sales 897 338 62.3% 831 7.4%
Average Price $1,304,591 $972,848 25.4% $1,335,226 -2.3%
Median Price $815,000 $666,000 18.3% $797,000 2.2%
Average PPSF $584 $443 24.2% $610 -4.4%
Median PPSF $525 $414 21.1% $499 5.0%
Average DOM 77 125 -62.3% 87 -13.0%

SFH 2Q21 2Q20 Yr Change 1Q21 Qtr Change

Closed Sales 207 114 44.9% 208 -0.5%
Average Price $1,978,258 $1,562,928 21.0% $1,933,391 2.3%
Median Price $1,495,000 $1,127,500 24.6% $1,318,750 11.8%
Average PPSF $647 $491 24.1% $578 10.8%
Median PPSF $594 $428 28.0% $510 14.2%
Average DOM 76 130 -71.1% 90 -18.4%

Condos 2Q21 2Q20 Yr Change 1Q21 Qtr Change

Closed Sales 690 224 67.5% 623 9.7%
Average Price $1,102,490 $672,539 39.0% $1,135,517 -3.0%
Median Price $700,000 $525,000 25.0% $653,000 6.7%
Average PPSF $565 $418 26.0% $620 -9.8%
Median PPSF $512 $404 21.1% $497 2.8%
Average DOM 77 123 -59.7% 86 -11.7%

Copyright © 2021 David Ranck LLC

 Volume 4 Issue 3 Page 19

Number of Sales Trend

NUMBER OF SALES
1000
900
Home sales on the Islands and
800
Downtown shot up by 62% over
700
2020. Last quarter saw an in- 600
crease of almost 7.4%. 500
400
300
200
100
0
2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21

Sales Forecast

MEDIAN PRICES Median Price Trend

$850,000
The median price of homes on
$800,000
the Islands and downtown has
risen again this quarter. The $750,000
median home price is now
$815,000 which is 18% higher $700,000
than last year. It seems that $650,000
more high-end homes are sell-
ing. $600,000

$550,000
2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21

Median Price Forecast

Average Days on Market Trend

AVERAGE DAYS ON MARKET
180

ADOM for the Islands and 160

downtown dropped again this
140
quarter by 13%.
120

100

80

60
2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21

ADOM Forecast

Copyright © 2021 David Ranck LLC

 Page 20

Venice Market Stats

Venice Home Sales

All 2Q21 2Q20 Yr Change 1Q21 Qtr Change
Closed Sales 1,178 785 33.4% 1,102 6.5%
Average Price $458,777 $322,789 29.6% $382,134 16.7%
Median Price $360,000 $289,000 19.7% $307,000 14.7%
Average PPSF $240 $184 23.3% $214 10.7%
Median PPSF $212 $170 20.0% $190 10.4%
Average DOM 23 71 -208.7% 43 -87.0%

SFH 2Q21 2Q20 Yr Change 1Q21 Qtr Change

Closed Sales 791 525 33.6% 671 15.2%
Average Price $540,075 $362,857 32.8% $454,640 15.8%
Median Price $420,000 $326,000 22.4% $369,200 12.1%
Average PPSF $250 $186 25.3% $219 12.0%
Median PPSF $219 $175 20.2% $199 9.4%
Average DOM 23 74 -221.7% 43 -87.0%

Condos 2Q21 2Q20 Yr Change 1Q21 Qtr Change

Closed Sales 387 260 32.8% 431 -11.4%
Average Price $292,610 $241,884 17.3% $269,253 8.0%
Median Price $266,000 $230,000 13.5% $250,000 6.0%
Average PPSF $219 $178 18.6% $205 6.5%
Median PPSF $197 $161 18.3% $177 10.5%
Average DOM 22 63 -186.4% 44 -100.0%

Copyright © 2021 David Ranck LLC

 Volume 4 Issue 3 Page 21

Number of Sales Trend

NUMBER OF SALES
1200

Venice home sales are up 33% 1100

over last year. With a median
price of $360,000, Venice is a 1000
good place to start your home
900
search.
800

700

600
2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21

Sales Forecast

MEDIAN PRICES Median Price Trend

$370,000
The average home price in
$350,000
Venice shot up this quarter by
14.7% over last quarter. The $330,000
prices in Venice have not been
going up at as fast a rate as $310,000
other local areas, but are fast
$290,000
catching up.
$270,000

$250,000
2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21

Median Price Forecast

Average Days on Market Trend

AVERAGE DAYS ON MARKET
105
95
Average days on market has
85
dropped again by 208% over
last year and 87% over last 75

quarter! The market in Venice is 65

heating up. 55
45
35
25
15
2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21

ADOM Forecast

Copyright © 2021 David Ranck LLC

 Volume 4 Issue 3 Page 22

Resources
The following sources are quoted or referenced in this report:

NAR: Existing-Home Sales Down Almost 1% in May

https://www.floridarealtors.org/news-media/news-articles/2021/06/nar-existing-home-sales-down-al-
most-1-may
Florida Realtors

New York City to Fla. Relocations: Flight or Hype?

https://www.floridarealtors.org/news-media/news-articles/2021/05/new-york-city-fla-relocations-
flight-or-hype
Florida Realtors

Fla.’s May Housing Market Strong, Shows 2020 COVID-19 Impact

https://www.floridarealtors.org/news-media/news-articles/2021/06/flas-may-housing-market-strong-
shows-2020-covid-19-impact
Florida realtors

Freddie Mac
Mortgage Rates
http://www.freddiemac.com/pmms/

Sun Stats
Northport - Sarasota - Bradenton MSA: Metric Comparison
https://sunstats.floridarealtors.org/chart# (Login Required)

Data Source
Unless otherwise noted, the data used in this report was derived from the Stellar MLS system. Some prop-
erty styles such as mobile homes are not included.

Watch the Video!

View the video!

Click on the image or open this link:

https://ranckhomes.com/Market-Update

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 Volume 4 Issue 3 Page 23

www.VictoriaSellsSarasota.com

Meet the Ranck Team

Victoria Ranck is an experienced real estate professional with a broad
range of clients from first-time home buyers searching for their
dream home to commercial investors seeking to maximize their in-
vestment dollars. She is known by her peers as the “numbers” girl –
she knows how to make the numbers work for her clients in any price
range.
Victoria Ranck
REALTOR, CPC, SFR, SRES Above all, Victoria works hard to ensure her clients reach their goals.
941.320.9299 In fact, according to Reality.com Victoria’s listings sell 27% faster
Vic@VictoriaRanck.com than the average agent in the Sarasota area.

“In my Real Estate practice, I have been successful because it

is always all about my clients: What is best for them, When
is best for them and even If purchase or sale is best for them.

David is an experienced Residential Realtor who brings over 25 years

of business and Internet marketing experience to the Real Estate in-
dustry.

Before joining Victoria in Real Estate, David had a successful career as

a Software Architect. He was Chief Technology Officer at Software
David Ranck Consortium in Towson, Maryland and Application Development Man-
REALTOR, SRES, KOCiB ager at The Hartford Insurance Group in Connecticut. He brings his
941.320.9399 knowledge and experience of Internet Marketing and Systems to the
Dave@VictoriaRanck.com Victoria Ranck Group.

“Less than 3% of home sales today come from

traditional advertising. Internet marketing and in
particular mobile and social media marketing are the
most important factors to sell homes today. “

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