Real Estate Market Continues to Heat Up

By | December 19, 2012

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Real Estate Outlook – Sarasota & Manatee Counties November 2012

The overall trend of shrinking inventory and steady demand continues. Inventory shrank 2.3% in Sarasota County and 4.6% in Manatee County over the previous month, with a year-over-year drop of 24.8% and 20.9% respectively.

The fairly consistent drop in pending activity across the market reflects the momentary pause in buyer activity due to the holidays. Compared to last year, both sold and pending activity is far ahead, which signals an even healthier buying season for 2013.

The number of homes sold increased 4.7% in Sarasota County and 8.3% in Manatee County over the previous month, with a year-over-year increase of 18.7% and 35.4% respectively. Pending sales increased 18.8% in Sarasota County and 42% in Manatee County compared to last year.

SARASOTA COUNTY

Residential

(Single Family & Condo)

November 2012 Change

vs. Prior Month (October)

November 2011 Change vs. 2011
Available Inventory 5,271 -2.3% 7,009 -24.8%
Sold 843 +4.7% 710 +18.7%
Pending 899 -8.9% 757 +18.8%
Sold Average Days on

Market

154 -3.1% 183 -15.8%
Median Sold Price $151,311 -5.4% $135,000 +12.1%
Months Supply of

Inventory

4.5 +8.8% 7.8 -42.4%

MANATEE COUNTY

Residential

(Single Family & Condo)

November 2012 Change

vs. Prior Month (October)

November 2011 Change vs. 2011
Available Inventory 3,896 -4.6% 4,926 -20.9%
Sold 624 +8.3% 461 +35.4%
Pending 696 +0.4% 490 +42.0%
Sold Average Days on

Market

158 +2.6% 162 -2.5%
Median Sold Price $159,888 -0.1% $139,900 +14.3%
Months Supply of

Inventory

4.2 -5.7% 8.5 -50.4%

ANNA-MARIA ISLAND

Residential

(Single Family & Condo)

November 2012 Change

vs. Prior Month (October)

November 2011 Change vs. 2011
Available Inventory 311 +2.0% 437 -28.8%
Sold 25 -13.8% 15 +66.7%
Pending 25 -3.8% 16 +56.2%
Sold Average Days on

Market

151 -50.3% 251 -39.8%
Median Sold Price $443,000 -16.0% $555,000 -20.2%
Months Supply of

Inventory

10.6 +4.8% 24.9 -57.7%

BRADENTON

Residential

(Single Family & Condo)

November 2012 Change

vs. Prior Month (October)

November 2011 Change vs. 2011
Available Inventory 1,949 -4.1% 2,591 -24.8%
Sold 325 +4.2% 238 +36.6%
Pending 354 -3.8% 274 +29.2%
Sold Average Days on

Market

159 +8.2% 154 +3.2%
Median Sold Price $126,000 -1.2% $110,000 +14.5%
Months Supply of

Inventory

4.1 -0.7% 7.9 -47.5%

LAKEWOOD RANCH

Residential

(Single Family & Condo)

November 2012 Change

vs. Prior Month (October)

November 2011 Change vs. 2011
Available Inventory 312 -6.9% 387 -19.4%
Sold 69 +32.7% 46 +50.0%
Pending 69 -2.8% 54 +27.8%
Sold Average Days on

Market

213 +71.8% 151 +41.1%
Median Sold Price $273,500 -16.9% $280,500 -2.5%
Months Supply of

Inventory

3.2 -8.3% 5.9 -45.3%

SARASOTA

Residential

(Single Family & Condo)

November 2012 Change

vs. Prior Month (October)

November 2011 Change vs. 2011
Available Inventory 2,694 -4.1% 3,722 -27.6%
Sold 480 -4.8% 411 +16.8%
Pending 520 -6.6% 424 +22.6%
Sold Average Days on

Market

150 -2.0% 178 -15.7%
Median Sold Price $172,250 +1.3% $140,000 +23.0%
Months Supply of

Inventory

3.9 +3.8% 7.4 -47.7%

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

Residential

(Single Family & Condo)

November 2012 Change

vs. Prior Month (October)

November 2011 Change vs. 2011
Available Inventory 493 +1.0% 618 -20.2%
Sold 33 +13.8% 29 +13.8%
Pending 46 +27.8% 41 +12.2%
Sold Average Days on

Market

324 +64.5% 263 +23.2%
Median Sold Price $385,000 -10.5% $450,000 -14.4%
Months Supply of

Inventory

9.3 -21.6% 13.6 -31.8%

Siesta Key

Residential

(Single Family & Condo)

November 2012 Change

vs. Prior Month (October)

November 2011 Change vs. 2011
Available Inventory 392 -5.8% 557 -29.6%
Sold 42 -16.0% 33 +27.3%
Pending 46 -23.3% 34 +35.3%
Sold Average Days on

Market

198 -9.6% 247 -19.8%
Median Sold Price $357,125 -0.8% $365,000 -2.2%
Months Supply of

Inventory

7.2 +34.5% 14.8 -51.1%

Venice

Residential

(Single Family & Condo)

November 2012 Change

vs. Prior Month (October)

November 2011 Change vs. 2011
Available Inventory 1,067 +0.7% 1,340 -20.4%
Sold 166 +20.3% 133 +24.8%
Pending 162 -12.9% 158 +2.5%
Sold Average Days on

Market

139 -21.9% 175 -20.6%
Median Sold Price $160,000 -0.9% $160,000 0.0%
Months Supply of

Inventory

5.2 +17.2% 7.0 -25.9%

ENGLEWOOD –

Residential

(Single Family & Condo)

November 2012 Change

vs. Prior Month (October)

November 2011 Change vs. 2011
Available Inventory 762 +0.8% 933 -18.3%
Sold 72 +7.7% 66 +9.1%
Pending 85 +10.8% 73 +16.7%
Sold Average Days on

Market

165 +4.4% 194 -14.9%
Median Sold Price $127,450 +6.2% $99,200 +28.5%
Months Supply of

Inventory

7.5 -9.8% 11.5 -34.6%

For a printable version of this report click here

MLS: MFRMLS Price: All Construction Type: All Bedrooms: All Baths: All Lot Size: All Sq Ft: All

Property Types: Residential (Half Duplex, Duplex, Co-Op, Condominium, Home w/Rental Unit, Income, Manufactured/Mobile

Home, Modular, Planned Unit Development, Ranch, Single Family Home, Townhouse, Villa, Two-Story Residential)

This report is developed monthly and is based on information from

The 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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