Q4 2021

Sarasota
Real Estate
Market Update
Volume 5 Issue 1

2022 - What Can We

Expect Real Estate?
More of the same or is there a change coming?

This is not intended as solicitation for properties currently in an exclusive agreement with another Broker
Copyright © 2022 David Ranck LLC
 January, 2022 Volume 5 Issue 1

In This Issue:
Housing Market May Normalize in 2022 ...................................................... 3

Floridians More Optimistic About the Future ................................................ 4

Primary Mortgage Market Survey................................................................. 4

Sellers Waiting Out Pandemic Are Ready to List ......................................... 5

Out-of-State Buyers Still Coming in 2022?................................................... 6

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 Visit us at:

VictoriaSellsSarasota.com
Resources .................................................................................................. 22

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

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 Volume 5 Issue 1
Housing Market May Normalize in 2022
By Kerry Smith
Forecasts always include
caveats that may upend predic-
tions, but NAR’s Lawrence Yun
says the market is hot right
now – and he sees more of the
same in 2022. While next year’s
sales may not surpass 2021
numbers, he expects a banner
year compared to those before
the pandemic.
SAN DIEGO – The outlook for
the residential real estate mar-
ket, which performed excep-
tionally well during the height
of the pandemic, continues to be
promising, according to NAR
Chief Economist Lawrence Yun,
speaking during the National
Association of Realtors® (NAR)
convention.
“All markets are seeing strong
conditions and home sales are
the best they have been in 15
years, Yun said. “The housing
sector’s success will continue –
but I don’t expect next year’s
performance to exceed this
year’s.”
An unknown, he said, is how re-
mote work opportunities will
play out in the future, and he
advised the industry to keep
that in mind.
“We are only in the first innings
of work-from-home options,”
Yun said. “People have not fully
digested the work-from-home-
flexibility model yet in deter-
mining home size and locational
choice.”
Even though there may be a de-
cline in sales in 2022, Yun still
forecasts that home sales will
outdo pre-pandemic levels. His
prediction, he noted, is based on
an anticipation of more inven-
tory in the coming months. That
supply will be generated, in
part, from new housing con-
Intense multiple offers will start to ease…
Home prices will continue to rise but at a
slower pace.
struction – already underway –
as well as from the conclusion
of the mortgage forbearance
program, which in turn will
cause a number of homeowners
to sell.
“With more housing inventory
to hit the market, the intense
multiple offers will start to
ease,” Yun said. “Home prices
will continue to rise but at a
slower pace.”
The job market struggled during
the pandemic but turned a cor-
ner and continues to make in-
cremental progress, Yun said.
Since the nation emerged from
lockdown, 18 million jobs have
been created. At 4.6%, the un-
employment rate implies the
U.S. economy should be back to
normal – however, the country
still faces an employment
shortage, he added. There are 4
million fewer jobs now than the
number before COVID-19.
Copyright © 2022 David Ranck LLC
Page 3
Forecasts for 2022 depends a bit
on U.S. location. Some areas of
the nation are thriving and fully
recovered, Yun said – places like
Idaho and Utah. Both states cur-
rently having more jobs now
than at the beginning of the
pandemic.
While real estate has thrived,
Yun says signs suggest that a
more normal and predictable
market is on the horizon. Home
sales surged over the past year
in an uncharacteristic manner,
with many receiving multiple
bids after only being on the
market for a short period. How-
ever, the 2022 housing sector
will settle down, though at
above pre-pandemic levels.
Yun projected that mortgage
rates, currently at 3.0%, will in-
crease to 3.7% in the coming
months, a rise he attributes to
persistent high inflation. Home
prices rose by 12% on average in
2020 and 2021, while inflation
rose 3%.
“Rising rents will continue to
place upward pressures on in-
flation,” he said. “Nevertheless,
real estate is a great hedge
against inflation.”
© 2021 Florida Realtors®
 Volume 5 Issue 1
Primary Mortgage Market Survey
Floridians More Optimistic About the Future
By Kerry Smith
University of Florida’s monthly
sentiment index ticked up 2.6
points in Dec. Current attitudes
were mixed, but people showed
increased optimism about the
economy later this year.
GAINESVILLE, Fla. – After four
months of consecutive declines,
consumer sentiment among
Floridians rose to 72.2 in De-
cember, up 2.6 points from No-
vember’s revised figure of 69.6.
That increase was also reflected
in a study of national con-
sumers.
“Though consumer sentiment
among Floridians ended 2021 on
a positive note, the continuing
declines experienced during the
second half of the year have left
a 10-point gap between this
month’s figure and December of
last year,” says Hector H. San-
doval, director of the Economic
Analysis Program at UF’s Bu-
reau of Economic and Business
Research. “In fact, consumer
confidence has been declining
over the past two consecutive
years.”
Among the five components
that make up the total index,
four increased and one de-
creased.
Current conditions: Floridians’
opinions about current eco-
nomic conditions were mixed.
Views of personal financial sit-
uations now compared with a
year ago decreased slightly,
two-tenths of a point from
65.0 to 64.8. In contrast, opin-
ions as to whether it’s a good
time to buy a major household
item like an appliance in-
creased 2.9 points from 58.3 to
61.2.
UF says that upward trend is
shared by all Floridians, and
it’s “particularly strong”
among people with an annual
income above $50,000.
Future expectations: All three
components that measure
Floridians’ opinions about the
future rose this month:
Copyright © 2022 David Ranck LLC
Page 4
Expectations of personal fi-
nances a year from now in-
creased 3.4 points, from 83.9 to
87.3
U.S. economic conditions over
the next year rose 5.1 points,
from 68.1 to 73.2
The outlook for U.S. economic
conditions over the next five
years increased 2.2 points, from
72.5 to 74.7
According to UF, those rosier
future expectations applied to
almost all Floridians except for
people age 60 and older, who
have pessimistic viewpoints re-
garding both their personal fi-
nances a year from now and the
nation’s economic outlook over
the next five years.
Attitudes appear to have im-
proved along with other Florida
economic indicators.
Florida’s labor market contin-
ued to recover in the final
months of the year. In Novem-
ber, the state’s unemployment
 Volume 5 Issue 1
rate was 4.5%, down 0.9% from
a year ago. Similarly, new appli-
cations for unemployment ben-
efits have remained low.
However, inflation accelerated
in November reaching a 39-year
high.
“The increasing cost of every-
day essentials such as food and
gasoline could reduce spending
Sellers Waiting Out Pandemic Are Ready to List
By Kerry Smith
Owners who postponed selling
during the pandemic – perhaps
waiting for a sign that price in-
creases were slowing – appear
ready to list their home within
the next six months. Many,
however, plan to overprice it –
and they expect bidding wars to
push the final price even
higher.
SANTA CLARA, Calif. – Home-
owners have had all the usual
reasons to sell over the past two
years – marriages, deaths, chil-
dren, etc. – but many hunkered
down during the pandemic, and
some feared the housing market
because selling might be easy
but finding a new home? Not so
much.
A survey conducted by HarrisX
for realtor.com, however, sug-
gests that many of those people
might be planning to list their
home in 2022, with 65% of
them planning to do so this
winter and spring. The survey of
2,583 consumers was conducted
online in September-October
elsewhere, thus slowing the eco-
nomic recovery,” Sandoval says.
“Floridians’ optimistic opinions
about the national economy over
the next year suggest that they
anticipate improved economic
prospects in 2022. Nevertheless,
the rising Covid-19 cases due to
the fast-spreading omicron vari-
ant are expected to slow eco-
2021.
Many sellers, however, want to set
an asking price higher than they
think their home is worth, and
they expect buyer bidding wars.
“The pandemic has delayed plans
for many Americans, and home-
owners looking to move on to the
next stage of life are no excep-
tion,” says George Ratiu, manager
of economic research for realtor
.com.
“Buyers should be ready for high
asking prices and offer deadlines
as seller expectations of the up-
coming market are greater than in
the spring, but an increase in new
sellers could mean some relief
from the inventory crunch,” he
says, saying price growth has
moderated some, and many sell-
ers will likely wait until after the
holidays to make a move.
However, early 2022 home listers
may have an advantage, he adds.
“As buyers race against the clock
of rising mortgage rates, sellers
who price their homes in line with
Copyright © 2022 David Ranck LLC
Page 5
nomic activity in the short run,
as demonstrated by the recent
disruptions in air travel. As a
result, we expect consumer
confidence to remain weak in
the first months of 2022,” San-
doval adds.
© 2022 Florida Realtors®
today’s market and stick to their
plans will likely see their expec-
tations met.”
When will sellers list?
Among homeowners who seem
prepared to enter the market in
the next year, 65% will do so
within six months, including
19% who have already listed
their home.
Compared to the spring (76%),
more prospective sellers (93%)
have already taken steps toward
listing their home, including
working with an agent (28%).
More than one-third of
prospective sellers (36% each)
have researched the value of
their home and others in their
neighborhood, and started mak-
ing repairs or decluttering.
Top reason for selling? More
time at home during COVID
Compared to the spring (15%),
nearly two-times as many
prospective sellers (33%) want
different home features.
 Volume 5 Issue 1
With more sellers having chil-
dren at home this winter (65%)
than in the spring (43%), family
considerations are a top reason
behind homeowner decisions to
enter the market: 37% of
prospective sellers say their
home no longer meets their
family’s needs and 32% want to
move closer to friends and fam-
ily.
The rise in remote work is also a
key driver: 23% of sellers want a
home office and 19% don’t need
to live near work, up from 6%
in March.
Seller expectations
Nearly half of today’s prospec-
tive sellers want to take advan-
tage of the current market and
think they can make a profit
(45%), nearly doubling from the
Out-of-State Buyers Still Coming in 2022?
Fla. Tourism officials think so,
though a panel of state econo-
mists have lowered near-term
expectations for Canadian and
foreign tourist visits.
Florida’s tourism industry ex-
ceeded expectations in the third
quarter of 2021, drawing 32.6
million visitors, which was 2
million more than forecast ear-
lier this year and 0.3% above the
overall number of visitors in the
third quarter of 2019 – before
the pandemic began. The 2021
third-quarter totals followed
31.7 million visitors in the sec-
ond quarter, which was 2.2%
spring (24%).
When asked about current mar-
ket impacts, 42% said they plan
to list their property for more
money than they think it’s
worth, and 29% will push for a
quick close.
Compared to the spring, more
prospective sellers anticipate
buyer bidding wars, more offers
above asking price, and more
buyers willing to forgo contin-
gencies like inspections and ap-
praisals.
Price range changes
Sellers with homes at the core of
the market ($351,000-
$750,000) remained the same
over March (29%). However,
more sellers plan to list in the
$500,000-$750,000 price range.
below the second quarter of
2019.
In addition to the tourists, we
are still seeing an influx of
homeowners moving from other
states. United Van Lines listed
Florida as a top moving destina-
tion in 2021 with a 62% inbound
move rate. They also found the
COVID-19 pandemic to be a
continuing driver for moving
decisions.
Sarasota has again been listed
as the top retirement destina-
tion in the U.S. Out-of-sate
buyers are still buying homes
Copyright © 2022 David Ranck LLC
Page 6
More than three-quarters (77%)
of prospective sellers would be
willing to accept a lower offer to
close quickly versus just over
half in March (54%).
Compared to spring sellers, a
higher number plan to take al-
ternative routes to moving out,
such as living with family ini-
tially (19%) or temporarily
renting their home back from
the buyer (29%).
“For homeowners who do feel
ready to sell, getting pricing
right from the start is key to a
fast and successful home sale in
any market – take the
Goldilocks approach,” says
Lexie Holbert, home and living
expert at realtor.com.
© 2021 Florida Realtors®
sight unseen, though anecdo-
tally I’ve noticed a softening to
this trend.
Home sales continue to be
strong and there does not seem
to be any let up in the local de-
mand. Even with the amount of
new housing starts, supply con-
tinues to lag behind demand.
I think we will see continued
activity from out-of-state buy-
ers through 2022.
 Volume 5 Issue 1 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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Volume 5 Issue 1 Page 8

Sarasota, Lakewood Ranch, The

Islands and Venice Combined Stats

Sarasota, Lakewood Ranch, Islands and Venice Home Sales

All 4Q21 4Q20 Yr Change 3Q21 Qtr Change
Closed Sales 3,645 4,660 -27.8% 3,659 -0.4%
Average Price $599,879 $508,855 15.2% $581,644 3.0%
Median Price $440,000 $360,000 18.2% $415,800 5.5%
Average PPSF $307 $238 22.4% $340 -10.7%
Median PPSF $258 $192 25.3% $241 6.6%
Average DOM 19 20 -5.3% 58 -205.3%

SFH 4Q21 4Q20 Yr Change 3Q21 Qtr Change

Closed Sales 2,298 3,005 -30.8% 2,371 -3.2%
Average Price $666,357 $576,002 13.6% $648,832 2.6%
Median Price $485,000 $403,040 16.9% $465,000 4.1%
Average PPSF $297 $233 21.6% $283 4.5%
Median PPSF $264 $199 24.8% $247 6.5%
Average DOM 16 18 -12.5% 50 -212.5%

Condos 4Q21 4Q20 Yr Change 3Q21 Qtr Change

Closed Sales 1,347 1,655 -22.9% 1,288 4.4%
Average Price $486,468 $386,935 20.5% $457,963 5.9%
Median Price $353,500 $270,000 23.6% $320,000 9.5%
Average PPSF $324 $248 23.6% $444 -37.0%
Median PPSF $238 $177 25.3% $219 7.8%
Average DOM 19 22 -15.8% 68 -257.9%

Copyright © 2022 David Ranck LLC

 Volume 5 Issue 1 Page 9

NUMBER OF SALES Number of Sales Trend

5500
The overall number of sales in
5000
our area flattened last quarter as
inventory continued to fall. 4500
There are still many more buy- 4000
ers than there are properties for
3500
sale but the lack of inventory
has caused sales to level out. If 3000
and when inventory increases, 2500
we should see sales follow.
2000
3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21

Sales Forecast

MEDIAN PRICES Median Price Trend

$475,000
Across the region, median prices
$455,000
have risen again reaching record
$435,000
highs.The median price of a
$415,000
home increased by 18.2% over $395,000
last year topping out at $375,000
$440,000. $355,000
$335,000
The median price increase on $315,000
condos outpaced single family $295,000
homes 23.6% to 16.9%. $275,000
3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21

The median price of a condo is Price Forecast

now $353,500

AVERAGE DAYS ON MARKET Average Days on Market Trend

120
The average days on market is
100
now just 19 days. Last year at
this time it was 58 - a 205% de- 80
crease this year. We expect this
60
fast pace to continue at least
through “season”. 40

20

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

ADOM Forecast

Copyright © 2022 David Ranck LLC

 Volume 5 Issue 1 Page 10

ADOM by Price Range

45
40
35
30
25
20
15
10
5
0

ADOM

Sales by Price Range

1200

1000

800

600

400

200

Sales

Copyright © 2022 David Ranck LLC

 Volume 5 Issue 1 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
2018 2019 2020 2021

Historical Count of Active Listings

12,000

10,000

8,000

6,000

4,000

2,000

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
2018 2019 2020 2021

Copyright © 2022 David Ranck LLC

 Volume 5 Issue 1 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
2018 2019 2020 2021

Median Sales Price Trend

$450,000

$400,000

$350,000

$300,000

$250,000

$200,000

$150,000

$100,000

$50,000

$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
2018 2019 2020 2021

Copyright © 2022 David Ranck LLC

 Volume 5 Issue 1 Page 13

Sarasota, Venice, Lakewood Ranch and the Islands Data

All Types 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21
Sales 3214 3330 3031 4219 4660 4744 5110 3659 3645
Avg Price $416,617 $441,667 $423,242 $470,157 $508,855 $587,966 $632,268 $581,644 $599,879
Med Price $310,000 $317,500 $318,000 $335,000 $360,000 $374,900 $401,050 $415,800 $440,000
Avg PPSF $211 $228 $210 $226 $238 $281 $296 $340 $307
Med PPSF $172 $180 $175 $184 $192 $206 $226 $241 $258
ADOM 86 81 79 84 70 58 36 20 19

SFH 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 3Q20 3Q20 4Q21
Sales 2024 1989 1984 2767 3005 2692 3022 2371 2298
Avg Price $457,894 $464,098 $473,451 $524,909 $576,002 $635,955 $688,307 $648,832 $666,357
Med Price $343,750 $350,000 $350,000 $376,000 $403,040 $425,000 $459,000 $465,000 $485,000
Avg PPSF $200 $207 $206 $226 $233 $255 $279 $283 $297
Med PPSF $176 $183 $181 $191 $199 $211 $231 $247 $264
ADOM 81 80 76 80 0 0 0 0 0

Condo 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 3Q20 3Q20 4Q21
Sales 1190 1341 1047 1452 1655 2052 2088 1288 1347
Avg Price $346,411 $408,396 $328,099 $365,819 $386,935 $525,010 $546,678 $457,963 $486,468
Med Price $245,000 $256,500 $248,000 $249,450 $270,000 $289,500 $315,000 $320,000 $353,500
Avg PPSF $230 $258 $217 $226 $248 $315 $318 $444 $324
Med PPSF $161 $169 $164 $166 $177 $191 $212 $219 $238
ADOM 95 84 86 93 85 68 44 22 19

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Volume 5 Issue 1 Page 14

Sarasota Market Stats

Sarasota Home Sales

All 4Q21 4Q20 Yr Change 3Q21 Qtr Change
Closed Sales 1,653 2,014 -21.8% 1,736 -5.0%
Average Price $487,627 $426,454 12.5% $484,513 0.6%
Median Price $391,002 $330,000 15.6% $375,750 3.9%
Average PPSF $257 $202 21.3% $246 4.2%
Median PPSF $245 $187 23.6% $230 6.2%
Average DOM 16 19 -18.8% 58 -262.5%

SFH 4Q21 4Q20 Yr Change 3Q21 Qtr Change

Closed Sales 1,102 1,373 -24.6% 1,166 -5.8%
Average Price $577,925 $513,674 11.1% $581,625 -0.6%
Median Price $460,000 $399,000 13.3% $438,250 4.7%
Average PPSF $277 $221 20.2% $268 3.2%
Median PPSF $262 $201 23.3% $246 6.1%
Average DOM 17 22 -29.4% 52 -205.9%

Condos 4Q21 4Q20 Yr Change 3Q21 Qtr Change

Closed Sales 551 641 -16.3% 570 -3.4%
Average Price $307,031 $239,631 22.0% $285,860 6.9%
Median Price $282,000 $224,900 20.2% $260,000 7.8%
Average PPSF $218 $163 25.3% $202 7.1%
Median PPSF $214 $157 26.6% $195 8.5%
Average DOM 12 15 -25.0% 66 -450.0%

Copyright © 2022 David Ranck LLC

 Volume 5 Issue 1 Page 15

NUMBER OF SALES Number of Sales Trend

2500
Sales are slightly down in the 2300
greater Sarasota area reflecting 2100
the overall lack of inventory. 1900
Buyers are still actively looking 1700
and buying but have limited 1500
choices. 1300
1100
900
700
All 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21
Types

Sales Forecast

MEDIAN PRICES
Median Price Trend
Median prices in Sarasota are up $425,000
$405,000
by 15.6% over last year, and are
$385,000
still rising.
$365,000
$345,000
Condos slightly outpaced single $325,000
family homes. $305,000
$285,000
$265,000
$245,000
$225,000
3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21

Price Forecast

AVERAGE DAYS ON MARKET Average Days on Market Trend

105
Days on market is still ex- 95
tremely low at an average of just 85
16 days. Many homes are still 75
selling within days and even 65
hours of listing. 55
45
35
25
15
5
3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21
ADOM Forecast

Copyright © 2022 David Ranck LLC

Volume 3, Issue 3 Page 16

Lakewood Ranch Market Stats

Lakewood Ranch Home Sales

All 4Q21 4Q20 Yr Change 3Q21 Qtr Change
Closed Sales 675 895 -32.6% 668 1.0%
Average Price $562,687 $464,497 17.5% $569,930 -1.3%
Median Price $469,120 $375,000 20.1% $451,625 3.7%
Average PPSF $259 $197 23.8% $522 -101.7%
Median PPSF $246 $185 24.9% $237 3.6%
Average DOM 14 13 7.1% 49 -250.0%

SFH 4Q21 4Q20 Yr Change 3Q21 Qtr Change

Closed Sales 473 677 -43.1% 504 -6.6%
Average Price $648,035 $529,843 18.2% $652,685 -0.7%
Median Price $540,000 $425,000 21.3% $539,000 0.2%
Average PPSF $270 $207 23.3% $267 1.2%
Median PPSF $257 $193 25.1% $249 3.3%
Average DOM 13 13 0.0% 41 -215.4%

Condos 4Q21 4Q20 Yr Change 3Q21 Qtr Change

Closed Sales 202 218 -7.9% 164 18.8%
Average Price $362,837 $261,567 27.9% $315,609 13.0%
Median Price $346,118 $245,000 29.2% $310,000 10.4%
Average PPSF $232 $166 28.4% $1,305 -462.7%
Median PPSF $218 $161 26.4% $201 7.7%
Average DOM 11 10 9.1% 69 -527.3%

Copyright © 2022 David Ranck LLC

 Volume 5 Issue 1 Page 17

NUMBER OF SALES Number of Sales Trend

1000
Sales have flattened in the
900
Lakewood Ranch area reflecting
the overall lack of inventory. 800
Buyers are still actively looking 700
and buying but have limited
600
choices..
500

400

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

Sales Forecast

MEDIAN PRICES Median Price Trend

The median price is up about $500,000

20.1% over last year in LWR fol- $480,000

lowing the trends in our area. $460,000
$440,000
Condo prices outpaced single $420,000
family homes 29.2% to 21.3%. $400,000
$380,000
$360,000
$340,000
$320,000
3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21

Price Forecast

AVERAGE DAYS ON MARKET Average Days on Market Trend

105
LWR average days on market is 95
now only 14 days, Last year at 85
this time it was 49 days. 75
65
55
Buyers are still acting quickly
45
when they find a home they
35
like.
25
15
5
3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21

ADOM Forecast

Copyright © 2022 David Ranck LLC

 Page 18

The Islands and Downtown

Market Stats

Islands and Downtown Home Sales

All 4Q21 4Q20 Yr Change 3Q21 Qtr Change
Closed Sales 457 602 -31.7% 434 5.0%
Average Price $1,289,738 $1,103,570 14.4% $1,240,982 3.8%
Median Price $825,000 $686,000 16.8% $750,000 9.1%
Average PPSF $622 $483 22.3% $604 2.9%
Median PPSF $581 $440 24.3% $548 5.6%
Average DOM 46 45 2.2% 87 -89.1%

SFH 4Q21 4Q20 Yr Change 3Q21 Qtr Change

Closed Sales 117 174 -48.7% 106 9.4%
Average Price $2,301,818 $1,912,775 16.9% $2,189,544 4.9%
Median Price $1,550,000 $1,400,000 9.7% $1,522,500 1.8%
Average PPSF $690 $549 20.5% $687 0.5%
Median PPSF $641 $516 19.5% $618 3.6%
Average DOM 40 30 25.0% 90 -125.0%

Condos 4Q21 4Q20 Yr Change 3Q21 Qtr Change

Closed Sales 340 428 -25.9% 328 3.5%
Average Price $941,464 $774,594 17.7% $934,435 0.7%
Median Price $730,000 $570,000 21.9% $650,000 11.0%
Average PPSF $598 $457 23.7% $577 3.5%
Median PPSF $559 $414 26.0% $531 5.0%
Average DOM 41 50 -22.0% 86 -109.8%

Copyright © 2022 David Ranck LLC

 Volume 5 Issue 1 Page 19

NUMBER OF SALES Number of Sales Trend

1000
Sales have flattened in down- 900
town and the islands reflecting 800
the overall lack of inventory. 700
Buyers are still actively looking 600
and buying but have limited 500
choices. 400
300
200
100
0
3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21

Sales Forecast

MEDIAN PRICES
Median Price Trend
The median price of homes on $900,000
the Islands and downtown has $850,000
risen 16.8% over last year.
$800,000

Condo price increases greatly $750,000

outpaced single family homes $700,000
21.9% to 9.7% over last year.
$650,000

$600,000

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

Price Forecast

Average Days on Market Trend

AVERAGE DAYS ON MARKET
190
ADOM for the Islands and
170
downtown is higher than other
150
local areas, but is significantly
130
down over last year. The aver-
age ADOM last quarter was 46 110
compared with 87 last year at 90
this time. 70
50
30
3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21

ADOM Forecast

Copyright © 2022 David Ranck LLC

 Page 20

Venice Market Stats

Venice Home Sales

All 4Q21 4Q20 Yr Change 3Q21 Qtr Change
Closed Sales 864 1,149 -33.0% 821 5.0%
Average Price $476,465 $376,250 21.0% $448,018 6.0%
Median Price $415,000 $318,000 23.4% $379,900 8.5%
Average PPSF $272 $203 25.2% $249 8.2%
Median PPSF $251 $184 26.7% $233 7.2%
Average DOM 13 12 7.7% 43 -230.8%

SFH 4Q21 4Q20 Yr Change 3Q21 Qtr Change

Closed Sales 606 781 -28.9% 595 1.8%
Average Price $525,710 $427,766 18.6% $502,793 4.4%
Median Price $460,000 $365,000 20.7% $428,410 6.9%
Average PPSF $277 $204 26.2% $254 8.2%
Median PPSF $262 $189 27.7% $239 8.6%
Average DOM 12 13 -8.3% 43 -258.3%

Condos 4Q21 4Q20 Yr Change 3Q21 Qtr Change

Closed Sales 258 368 -42.6% 226 12.4%
Average Price $360,796 $266,919 26.0% $303,811 15.8%
Median Price $329,000 $250,000 24.0% $280,000 14.9%
Average PPSF $259 $201 22.5% $236 8.8%
Median PPSF $228 $173 24.0% $211 7.4%
Average DOM 13 9 30.8% 44 -238.5%

Copyright © 2022 David Ranck LLC

 Volume 5 Issue 1 Page 21

NUMBER OF SALES Number of Sales Trend

1200
Sales have flattened in down-
1100
town and the islands reflecting
the overall lack of inventory. 1000
Buyers are still actively looking
and buying but have limited 900

choices. 800

700

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

Sales Forecast

MEDIAN PRICES Median Price Trend

$430,000
The median home price contin-
$410,000
ues to rise in Venice and is now
$390,000
$4115,000 an increase of 23.4%
$370,000
over last year. We expect this
$350,000
trend to continue but slow later
$330,000
in the year.
$310,000
$290,000
$270,000
$250,000
3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21

Price Forecast

Average Days on Market Trend

AVERAGE DAYS ON MARKET
105
Average days on market contin- 95
ues to remain very low at just 10 85
days reflecting the popularity of 75
65
the Venice market.
55
45
35
25
15
5
3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21

ADOM Forecast

Copyright © 2022 David Ranck LLC

 Volume 5 Issue 1 Page 22

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

Florida Realtors Association

NAR Economist Yun: Housing Market May Normalize in 2022
https://www.floridarealtors.org/news-media/news-articles/2021/11/nar-economist-yun-housing-market-
may-normalize-2022

Floridians More Optimistic About the Future

https://www.floridarealtors.org/news-media/news-articles/2022/01/floridians-more-optimistic-about-
future

Survey: Sellers Waiting Out Pandemic Are Ready to List

https://www.floridarealtors.org/news-media/news-articles/2021/11/survey-sellers-waiting-out-pan-
demic-are-ready-list

Will Omicron Ding the Number of Out-of-State Buyers?

https://www.floridarealtors.org/news-media/news-articles/2022/01/will-omicron-ding-number-out-
state-buyers

Extraspace
Where Are People Moving in 2022?
https://www.extraspace.com/blog/moving/where-are-people-moving/

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.

Copyright © 2022 David Ranck LLC

 Volume 5 Issue 1 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. “

We’re Easy To Talk To

Copyright © 2022 David Ranck LLC

This is not intended as solicitation for properties currently in an exclusive agreement with another Broker