Prepared by Michael Moulton, CRS
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, Pending m and Listings m columns are sales and listings for the month of the report and the Pending and Listings are the current totals of each in the MLS system. The Sold a column is the total sales for 2010 year to date, the Sold b is the closed sales year to date in 2009 and the Sold c column are the closed sales for the total 2009 year in each price category. The Listing ’09 column shows the # of listings for each price category at the end of 2009.
Houses Sold m Sold a Sold b Sold c Pend m Pend List m List List ‘09
$250k & under 241 2158 1750 3055 204 822 213 1202 1323
$250k to $500k 58 693 541 958 49 227 123 747 938
$500k to $750k 23 173 155 273 20 70 41 319 363
$750k to $1m 9 81 44 87 6 29 18 207 244
$1m to $2m 9 77 65 106 5 24 19 275 355
$2m & above 4 28 26 43 3 13 7 196 261
Totals 344 3210 2581 4522 287 1245 421 2946 3484
Condominiums Sold m Sold a Sold b Sold c Pend m Pend List m List List ‘09
$250k & under 127 1135 809 1431 74 408 178 1064 1204
$250k to $500k 27 346 262 474 17 69 50 643 700
$500k to $750k 10 126 93 163 3 29 23 273 326
$750k to $1m 2 50 35 65 5 16 6 108 160
$1m to $2m 6 49 29 60 0 7 9 129 161
$2m & above 1 17 10 20 0 2 5 64 89
Totals 173 1723 1238 2213 99 531 271 2281 2640
Grand Totals 517 4933 3819 6735 386 1776 692 5227 6124
66% of the months sales were single family homes and 34% were condominiums which is the typical monthly ratio. Of the total monthly sales 71% were properties that sold for $250,000 or less, 16% were sold for between $250,000 and $500,000, 8% sold for between $500,000 and $1,000,000 and 5% sold for over $1,000,000. The current listing inventory is 15% less then where it was at the end of 2009.
As the statistics relate to listed properties vs. sold properties we have 10 months of inventory overall based on the July closings. Based on the July closings there 8 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 20 months of inventory down from 22 months at the end of 2009 and over $1,000,000 there is 33 months of inventory based on the July closed sales. There are 563 less listings then the end of June. The months of available inventory does vary greatly on a month to month basis based on that months closed sales. Six months of inventory is considered a neutral market meaning it is neither a buyers or sellers market.
