Real Estate Report – September 2010 – Sarasota, Florida

Prepared by Michael Moulton, CRS, Broker-Associate
Michael Saunders &Co

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 (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 2010 year to date, the Sold YTD ’09 is the closed sales year to date in 2009 and the Sold 2009 column are the closed sales for the total 2009 year in each price category. The Listed YE ’09 column shows the # of listings for each price category at the end of 2009.

We currently have 11.2 months of inventory based on the # of September closings in all price categories. Based on the September closings there 9 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 21 months of inventory down from 22 months at the end of 2009 and over $1,000,000 there is 117 months of inventory based on the September closed sales. Please bear in mind that September is typically the slowest month for sales of luxury properties within Sarasota. The months of available inventory does vary greatly on a month to month basis based on that months closed sales. The current listing inventory is 3% less than where it was at the end of 2009. The listing inventory has remained fairly consistent each month of this year. Six months of inventory is considered a neutral market meaning it is neither a buyers or sellers market.