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2011-01-30 15:16:38
Sarasota, FL market is showing strong signs of recovery
Real Estate Report for Year-End December 2010 for Sarasota, Florida
Prepared by Michael Moulton, CRS, Broker-Associate
Michael Saunders & Company
The Sarasota market is beginning the upward curve. We currently have 9 months of overall inventory based on the December closings. Based on the December closings, there are just 7 months of inventory for properties listed under $500,000 compared with 11 months at the beginning of 2010. In the market for $500,000 to $1,000,000 properties there is 15 months of inventory, which is the down from 22 months at the end of 2009 and over at the over $1,000,000 level there is 28 months of inventory. The months of available inventory does vary on a month to month basis depending on that month’s closed sales. The current listing inventory is down 6% from 2009 year end. Six months of inventory is considered a neutral market meaning it is neither a buyers nor seller’s market.
The following statistical data is from information provided through the Multiple Listing Service of the Sarasota Association of Realtors. The following table summarizes what happened in each price segment. The Sold (Closed), Pending, and Listings columns are sales and listings for the month of the report and the Pending and Listed are the current totals of each in the MLS system. The Listed YE ’09 column shows the number of listings at the end of 2009. In this report I further segregated the $1m to $2m and the $2m and above segments of the market from my previous monthly statistics, however the segregated data for the active listings at the end of 2009 is not available.
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Below is a second table showing the past six years of sales history. The unit sales in 2010 have increased approximately 10% from 2009. Fortunately we have seen an increase in unit sales each of the past four years.
Six Year Sales History
|
Sold |
Sold |
Sold |
Sold |
Sold |
Sold |
|
|
Houses |
2010 |
2009 |
2008 |
2007 |
2006 |
2005 |
|
under $250k |
3288 |
3055 |
2039 |
1236 |
1017 |
1584 |
|
$250k - $500k |
1032 |
958 |
1183 |
1451 |
1916 |
2971 |
|
$500k - $750k |
267 |
273 |
335 |
399 |
572 |
904 |
|
$750k - $1m |
112 |
87 |
150 |
176 |
226 |
378 |
|
$1m - $1.5m |
79 |
68 |
112 |
117 |
162 |
249 |
|
$1.5m - $2m |
32 |
44 |
61 |
58 |
62 |
94 |
|
$2m - $3m |
29 |
29 |
46 |
57 |
53 |
78 |
|
$3m & above |
14 |
16 |
35 |
44 |
52 |
52 |
|
Totals |
4853 |
4530 |
3961 |
3538 |
4060 |
6310 |
|
Condos |
||||||
|
under $250k |
1699 |
1431 |
847 |
778 |
736 |
1319 |
|
$250k - $500k |
507 |
474 |
443 |
612 |
612 |
1180 |
|
$500k - $750k |
184 |
163 |
197 |
302 |
302 |
502 |
|
$750k - $1m |
68 |
65 |
89 |
169 |
169 |
273 |
|
$1m - $1.5m |
50 |
43 |
55 |
71 |
71 |
165 |
|
$1.5m - $2m |
17 |
21 |
32 |
44 |
44 |
80 |
|
$2m - $3m |
19 |
16 |
22 |
43 |
43 |
67 |
|
$3m & above |
2 |
5 |
10 |
13 |
13 |
35 |
|
Totals |
2546 |
2218 |
1695 |
2032 |
1990 |
3621 |
|
Grand Totals |
7399 |
6748 |
5656 |
5570 |
6050 |
9931 |
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