Seven cities in Florida are making a turn and the Sarasota-Bradenton area is one of them!  There has been a year-over-year median list price change of 12.56%.

But what does that mean?  Homes aren’t selling for 12-13% more, so how is the median list price increasing?  There are several reasons:

1.  There are less distressed properties on the market right now, which typically bring down the list prices as a whole.
2.  Inventory is down, down, down!  Add that to seeing owners of $1M+ properties ready to sell and that will impact the median list price.
3.  It is a matter of supply and demand.  Less supply and with interest rates still low, there is strong demand.  As a result, list prices are bumping up.