Real Estate Season Begins Earlier Than Usual

By | November 19, 2012

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Real Estate Outlook – Sarasota & Manatee Counties October 2012

Trends continue to show a real estate market in recovery, as declining inventories combine with a steady increase in demand to drive up home prices. The typical slowdown before an election did not occur this year, with pending sales continuing to rise in almost every area of our market.

Pending sales were up 33.4% in Sarasota County and 6.4% in Manatee County from September to October, with year over year increases of 41.4% and 60.5% respectively. The median sold price rose 31.1% in Sarasota County and 16.8% in Manatee County compared to the same time last year. Months supply of inventory continued to decline, dropping 52.4% in Sarasota County and 55.1% in Manatee County year over year.

These figures, along with reports from our Realtors who are suddenly slammed with business, indicates that our “typical”season, driven by snowbirds and other tourists, is kicking into gear even earlier than last year.

SARASOTA COUNTY

Residential(Single Family &Condo) October 2012 Changevs. Prior Month (September) October 2011 Change vs. 2011
Available Inventory 5,274 +1.9% 6,909 -23.7%
Sold 807 +16.8% 710 +12.8%
Pending 1,058 +33.4% 748 +41.4%
Sold Average Days onMarket 158 -4.8% 195 -19.0%
Median Sold Price $159,000 +4.9% $122,000 +31.1%
Months Supply ofInventory 3.7 -28.4% 7.7 -52.4%

MANATEE COUNTY

Residential(Single Family &Condo) October 2012 Changevs. Prior Month (September) October 2011 Change vs. 2011
Available Inventory 3,994 -2.3% 4,790 -16.6%
Sold 570 +3.3% 423 +34.8%
Pending 748 +6.4% 466 +60.5%
Sold Average Days onMarket 153 -8.4% 205 -25.4%
Median Sold Price $160,000 +1.6% $137,000 +16.8%
Months Supply ofInventory 4.0 -11.2% 8.8 -55.1%

ANNA-MARIA ISLAND

Residential(Single Family &Condo) October 2012 Changevs. Prior Month (September) October 2011 Change vs. 2011
Available Inventory 303 -2.9% 419 -27.7%
Sold 29 +7.4% 17 +70.6%
Pending 27 -15.6% 15 +80.0%
Sold Average Days onMarket 304 +60.8% 301 +1.0%
Median Sold Price $527,500 +42.6% $440,000 +19.9%
Months Supply ofInventory 9.6 +17.6% 25.5 -62.7%

BRADENTON

Residential(Single Family &Condo) October 2012 Changevs. Prior Month (September) October 2011 Change vs. 2011
Available Inventory 1,978 -1.7% 2,458 -20.8%
Sold 305 +7.8% 253 +20.6%
Pending 400 +14.3% 253 +58.1%
Sold Average Days onMarket 145 -7.6% 203 -28.6%
Median Sold Price $127,000 +12.9% $97,500 +30.3%
Months Supply ofInventory 3.6 -17.1% 8.5 -57.3%

LAKEWOOD RANCH

Residential(Single Family &Condo) October 2012 Changevs. Prior Month (September) October 2011 Change vs. 2011
Available Inventory 328 +0.9% 373 -12.1%
Sold 52 -13.3% 39 +33.3%
Pending 76 -2.6% 47 +61.7%
Sold Average Days onMarket 119 -40.2% 239 -50.2%
Median Sold Price $337,000 -0.6% $259,000 +30.1%
Months Supply ofInventory 3.1 +6.7% 6.5 -52.7%

SARASOTA

Residential(Single Family &Condo) October 2012 Changevs. Prior Month (September) October 2011 Change vs. 2011
Available Inventory 2,731 -1.6% 3,702 -26.6%
Sold 502 -18.1% 410 +22.4%
Pending 604 +21.0% 420 +43.8%
Sold Average Days onMarket 153 -0.6% 182 -15.9%
Median Sold Price $170,000 +3.0% $134,000 +26.9%
Months Supply ofInventory 3.2 -23.6% 7.3 -56.5%

Longboat Key(Zip Code 34228. Does not include St. Armand’s Circle or Bird Key)

Residential(Single Family &Condo) October 2012 Changevs. Prior Month (September) October 2011 Change vs. 2011
Available Inventory 484 +4.1% 588 -17.7%
Sold 29 +16.0% 25 +16.0%
Pending 36 +44.0% 22 +63.6%
Sold Average Days onMarket 197 -37.9% 259 -23.9%
Median Sold Price $430,000 -8.5% $428,000 +0.5%
Months Supply ofInventory 11.8 -28.7% 24.3 -51.6%

Siesta Key

Residential(Single Family &Condo) October 2012 Changevs. Prior Month (September) October 2011 Change vs. 2011
Available Inventory 413 +0.5% 551 -25.0%
Sold 50 +42.9% 35 +42.9%
Pending 64 +68.4% 36 +77.8%
Sold Average Days onMarket 219 +4.8% 268 -18.3%
Median Sold Price $360,000 -6.5% $345,000 +4.3%
Months Supply ofInventory 4.9 -47.6% 13.4 -63.0%

Venice

Residential(Single Family &Condo) October 2012 Changevs. Prior Month (September) October 2011 Change vs. 2011
Available Inventory 1,043 -3.5% 1,332 -21.7%
Sold 138 +7.8% 106 +30.2%
Pending 192 +33.3% 146 +31.5%
Sold Average Days onMarket 178 -6.8% 183 -2.7%
Median Sold Price $161,500 +2.9% $126,500 +27.7%
Months Supply ofInventory 4.1 -25.4% 7.5 -45.1%

ENGLEWOOD –

Residential(Single Family &Condo) October 2012 Changevs. Prior Month (September) October 2011 Change vs. 2011
Available Inventory 745 +3.3% 912 -18.3%
Sold 65 -9.7% 76 -14.5%
Pending 85 +23.2% 73 +16.4%
Sold Average Days onMarket 158 -19.4% 214 -26.2%
Median Sold Price $120,000 -14.4% $91,000 +31.9%
Months Supply ofInventory 7.5 -16.2% 11.0 -32.1%

For a printable version of this report click hereMLS: MFRMLS Price: All Construction Type: All Bedrooms: All Baths: All Lot Size: All Sq Ft: AllProperty Types: Residential (Half Duplex, Duplex, Co-Op, Condominium, Home w/Rental Unit, Income, Manufactured/MobileHome, Modular, Planned Unit Development, Ranch, Single Family Home, Townhouse, Villa, Two-Story Residential)This report is developed monthly and is based on information fromThe MFRMLS Multiple Listing Service for the period stated above.For more information about any of the figures seen in this report or to inquire about additional statistics,please contact Peter Crowley, 941-316-6569 or email pcrowley@alliancegroupfl.com


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