There were 34 homes sold this past year, identical to 34 in 2008, 32 in 2007 and 18 in 2006. The annual sales volume was $32,000,000 compared to $46,000,000 in 2008 and $75,000,000 in 2007. The main reason for the significant decrease in the sales volume is that there has only been one sale of a substantial bay front home this year. Homes sold on average for 76% of list price compared to 80% in 2008. The average days to contract are down from 200 in 2008 to 181 days. Twenty three of this years closed sales were garden homes as opposed to the more expensive waterfront homes.
As many analysts predicted, the foreclosure trend that began in 2008 worsened sharply in 2009. Despite substantial government bailout, 2009 brought with it some of the highest residential foreclosure rates in history. While existing home prices followed foreclosures and fell dramatically, sales did bounce back slightly, due, in part, to the first time home buyer […]
Now that 2009 is behind us and we are on to 2010 I want to summarize what transpired in the Sarasota County real estate market the past year. There were a total of 8,084 properties sold the past year with 5,640 being single family homes and 2,444 being a condominium. The following table summarizes what […]
Nationally, the sale of existing homes rose 9.4% in September. In Florida, sales rose by 34%. Local analysts say it’s a combination of falling prices and the $8,000 first-time homebuyer tax credit that has made all the difference in South Florida. Housing activity in two counties, Broward County and Palm Beach County, reveal just how […]
Bolstered by first time homebuyers taking advantage of the $8,000 tax credit, the sale of previously-owned homes was up 9.4% in September. “Much of the momentum is from people responding to the first-time buyer tax credit, which is freeing many sellers to make a trade and buy another home,” explains National Association of Realtors chief […]
I have been tracking the listing and sales volumes for years in our local market. While the statistics from the Sarasota Association of Realtors will show greater numbers, I track the data of the following zip codes 34201, 34202, 34228, 34229, 34231, 34232, 34233, 34234, 34235, 34236, 34237, 34238, 34239, 34240, 34241, 34242, 34243, 34275 […]
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