Sarasota Association of Realtors Reports Home Sales in Second Quarter at Highest Level since 2005

By | July 18, 2012

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The market statistics have just been released by the Sarasota Association of Realtors. Here’s what the indications are. With 864 closed sales transactions in June 2012, the Sarasota real estate market achieved the highest level of quarterly sales in seven years, with 2,604 sales from April through June. The 864 closed transactions in June was also the second highest total since September 2005, yet another indication of a market that is achieving sales totals not seen since the 2003-2005 real estate surge.

The totals for June were 603 single family homes and 261 condominiums, for the combined 864 closed transactions. Sales were 18.7 percent higher than in June 2011, when there were 728 closed transactions. The June sales almost reached the April 2012 figure of 886, which was the highest total in seven years. The normal seasonal influx of buyers tends to drop shortly after the Easter holiday, but this year the higher sales appear to be continuing into the summer.

However, pending sales (which represent properties that went under contract during the month) did decrease in June, dropping to 860 after four straight months that topped 1,000. Pending sales are a major indicator of the future market sales totals. Last year the pending sales also retreated, from 841 in May to 754 in June, and this meant the spring surge finally did slow down in July. The current numbers seem to indicate there remains strength in the market dynamics through the middle of the summer.

Click here for the full press release and statistical charts.


1 Comment

Alex Krumm on July 18, 2012 at 11:57 am.

I was just talking about this this morning – it’s getting really hard to find properties for buyers because there’s so much activity for such little inventory! When I list properties, we’re seeing 3-4 full price+ offers in the FIRST WEEK a home comes on the market. It’s an amazing turnaround from where we were just 2-3 years ago.

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