Prepared by Michael Moulton, CRS, Broker-Associate
Michael Saunders & Co
The overall listed inventory of residential properties for sale locally is keeping steady in recent months at the equilibrium level of six months, considered neither a Buyers nor Seller’s market. Our monthly average this year of 694 closed properties indicates that we currently have six months of inventory, a good sign that the marketplace is on a positive and stable course. The overall inventory has declined 27% since the end of 2010, 1,564 less listed properties, and 1,937 properties less than the end of 2009. Shrinking inventory is a great positive sign for our local housing market.
During August 569 properties sold compared to 565 in the same month last year. There are 695 pending sales from August versus 805 pending sales at this same month in 2010. As a result of the past month’s closings activity, there is just a 5.7 month inventory for properties listed under $500,000, compared with 7 months at the beginning of the year and 11 months at the beginning of 2010. In the segment between $500,000 and $1,000,000, there is an 18 month inventory vs. 19 months at the end of 2010.
The following statistical data is provided through the Multiple Listing Service (MLS) of the Sarasota Association of Realtors. The 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 Sold YTD column is the total sales for 2011 and 2010 Year-to-Date. The Listed YE ’10 (Year-End) column shows the listing inventory at the end of 2010.
This pdf report contains statistical data is from information provided through the Multiple Listing Service of the Sarasota Association of Realtors.
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