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 the month and the Pending, not yet closed and Listed are the totals of each in the MLS system. The Sold column is the total sales for 2010 year to date.
|Houses||Sold M||Sold||Pend M||Pend||List M||List||Sold ‘09|
|&$250,000 & under||301||1486||296||999||245||1299||3055|
|$250,000 to $500,000||112||474||114||320||122||819||958|
|$500,000 to $750,000||23||118||27||78||43||354||273|
|$750,000 to $1,000,000||13||60||16||45||19||224||87|
|$1,000,000 to $2,000,000||16||58||9||33||29||330||106|
|$2,000,000 & above||8||20||6||18||11||234||43|
|Condominiums||Sold M||Sold||Pend M||Pend||List M||List||Sold ‘09|
|&$250,000 & under||172||803||143||491||166||1208||1431|
|$250,000 to $500,000||62||261||41||102||77||712||474|
|$500,000 to $750,000||18||98||6||31||17||325||163|
|$750,000 to $1,000,000||10||38||3||13||15||124||65|
|$1,000,000 to $2,000,000||9||34||7||17||15||147||60|
|$2,000,000 & above||2||14||1||1||3||70||20|
63% of the months sales were single family homes and 37% were condominiums. Of the total sales 63% were properties that sold for $250,000 or less, 23% were sold for between $250,000 and $500,000, 9% sold for between $500,000 and $1,000,000 and 5% sold for over $1,000,000. The overall listing inventory is 10% less then where it was at the end of 2009.
As the statistics relate to listed properties vs. sold properties we have 12 months of inventory overall based on the May closings. 2009 ended with 10.1 months of listing inventory. Based on the May closings there is only 5.3 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 16 months of inventory down from 22 months at the end of 2009 and over $1,000,000 there is 22 months of inventory vs. 45 months at the end of 2009 based on April 2010 closed sales. Six months of inventory is considered a neutral market meaning it is neither a buyers or sellers market.