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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.

 

 

 

                 
 

Sold

Sold

Sold

Pending

Pending

Listed

Listed

Listed

Houses

Dec

2010

2009

Dec

 

Dec

 

YE '09

under $250k

290

3288

3055

331

862

275

1408

1323

$250k - $500k

85

1032

958

91

221

108

802

938

$500k - $750k

28

267

273

10

46

19

302

363

$750k - $1m

11

112

87

15

33

15

233

244

$1m - $1.5m

10

79

68

6

16

18

186

355

$1.5m - $2m

6

32

44

2

8

6

98

incl

$2m - $3m

4

29

29

2

6

10

106

261

$3m & above

1

14

16

3

9

7

112

incl

Totals

435

4853

4530

460

1201

458

3247

3484

                 

Condos

               

under $250k

147

1699

1431

152

399

200

1254

1204

$250k - $500k

45

507

474

28

68

61

696

700

$500k - $750k

16

184

163

11

21

14

227

326

$750k - $1m

2

68

65

3

7

16

124

160

$1m - $1.5m

3

50

43

7

8

6

85

161

$1.5m - $2m

1

17

21

2

4

7

47

incl

$2m - $3m

0

19

16

1

2

7

47

89

$3m & above

0

2

5

0

0

3

24

incl

Totals

214

2546

2218

204

509

314

2504

2640

                 

Grand Totals

649

7399

6748

664

1710

772

5751

6124

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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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