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 M, Pend M (Pending) and List M (Listings) columns are new transactions that happened during February 2010 and the Pending and Listed are the totals of each in the MLS system and the Sold column are the total sales for 2010 year to date.
| Houses | Sold M | Sold | Pend M | Pend | List M | List | Sold ‘09 |
|---|---|---|---|---|---|---|---|
| &$250,000 & under | 242 | 468 | 288 | 1064 | 192 | 1056 | 3055 |
| $250,000 to $500,000 | 60 | 128 | 85 | 330 | 142 | 800 | 958 |
| $500,000 to $750,000 | 13 | 31 | 28 | 87 | 50 | 342 | 273 |
| $750,000 to $1,000,000 | 6 | 13 | 10 | 50 | 27 | 226 | 87 |
| $1,000,000 to $2,000,000 | 8 | 19 | 7 | 37 | 36 | 324 | 106 |
| $2,000,000 & above | 3 | 5 | 4 | 21 | 21 | 248 | 43 |
| Totals | 332 | 664 | 422 | 1589 | 468 | 2996 | 4522 |
| Condominiums | Sold M | Sold | Pend M | Pend | List M | List | Sold ‘09 |
|---|---|---|---|---|---|---|---|
| &$250,000 & under | 125 | 245 | 129 | 549 | 139 | 1070 | 1431 |
| $250,000 to $500,000 | 42 | 82 | 40 | 121 | 74 | 644 | 474 |
| $500,000 to $750,000 | 12 | 29 | 13 | 40 | 31 | 302 | 163 |
| $750,000 to $1,000,000 | 2 | 5 | 9 | 21 | 14 | 145 | 65 |
| $1,000,000 to $2,000,000 | 6 | 8 | 11 | 20 | 15 | 138 | 60 |
| $2,000,000 & above | 3 | 7 | 2 | 3 | 6 | 88 | 20 |
| Totals | 190 | 376 | 204 | 754 | 279 | 2387 | 2213 |
| Grand Totals | 552 | 1040 | 626 | 2343 | 747 | 5383 | 6124 |
|---|
64% of the months sales were single family homes and 36% were condominiums. Of the total sales 70% were properties that sold for $250,000 or less, 20% were sold for between $250,000 and $500,000, 5% sold for between $500,000 and $1,000,000 and 5% sold for over $1,000,000. The overall listing inventory is down 21% from the end of 2009.
As the statistics relate to listed properties vs. sold properties we have 9.5 months of inventory overall which is down from 12 months at the end of 2009. There is only 7 months of inventory for properties listed under $500,000 compared with 10 months at the beginning of 2010, in the price bracket of $500,000 to $1,000,000 there is 22 months of inventory and over $1,000,000 there is 45 months of inventory. Six months of inventory is considered a neutral market meaning neither a buyers or sellers market so the market for properties listed under $500,000 is fast approaching this benchmark. Hopefully as 2010 progresses we can put a dent into the luxury market inventory.
