Market Statistics

March Property Sales Highest Since August of 2005

By | April 17, 2013

a-housing-graph

a-housing-graphProperty sales in the Sarasota real estate market remained hot in March 2013 and for the first quarter of 2013. The March 2013 sales figure of 887 was the highest total since August 2005, and for the full first quarter, sales were 11.3 percent higher than in 2012.

Members of the Sarasota Association of Realtors sold 628 single family homes and 259 condominiums in March 2013. That compared to 504 single family homes and 29 condos sold in February 2013, for a 21-percent increase over last month and 6.7 percent higher than March 2012.

The huge number of sales coincided with an impressive increase in the median sales price, especially for single family homes. The figure of $210,000 for single family homes was the highest since August 2008 – nearly five years ago. For condos, the median was $182,000. The condo figure has fluctuated substantially over the past few years, dropping to a low point of $127,000 in July 2010 after soaring to $420,000 at the start of 2007.

Pending sales, which predict future closings, were at 1,221 – the highest figure in the past seven years, and one of the highest in SAR’s history. Pending sales stood at 1,138 in February and 1,047 in January, continuing the amazing streak since the start of 2013. The statistic represents properties that went under contract during the month, and indicates sales in April and beyond could also be at high levels.

The available inventory remained near the lowest level in a decade, declining to 3,643 from February’s figure of 3,790. The inventory is 18 percent lower than in March 2012.

To view the full press release along with statistical charts click here.

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February 2013 Sarasota Real Estate Sales Up 24% Over Last Year

By | March 19, 2013

Red Upward Graph

Red Upward GraphThe Sarasota real estate market saw sales leap by 24 percent in February 2013, compared to February 2012. This follows January’s 22 percent increase, and if the rest of the year continues to reflect 20 percent monthly sales increases, 2013 could be one for the record books.

Members of the Sarasota Association of Realtors ® sold 733 properties in February, compared to only 591 sales last February, and 626 closings last month. The breakdown was 504 single family homes and 229 condominiums. That compared to 414 single family homes and 177 condos sold in February 2012. In 2012, sales increased markedly in February, March and April, climbing to 886 closed transactions in April before moderating in the summer months.

Pending sales, which predict future closings, were at 1,138 in February, up from January’s total of 1,047. The figure was the highest since March 2011, almost two years ago. The statistic represents properties that went under contract during the month, and indicates sales in March and beyond could also be at high levels.

The available inventory remained near the lowest level in a decade, declining to 3,790 from the January 2013 total of 3,846 properties on the market. The figure is 17.4 percent lower than in February 2012.

“These statistics continue to demonstrate a healthy, energized real estate market,” said SAR President Roger Piro. “We had the fourth highest sales year in history in 2012, and sales for the first two months of 2013 are already topping last year’s monthly levels by 23 percent. The pending sales figure also indicates strong sales continuing in the near term, so we could see yet another historic sales year.”

To view the full press release along with statistical charts click here.

Courtesy of Sarasota Association of Realtors

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January 2013 Real Estate Sales Up 22 Percent Over Last January

By | February 23, 2013

business graph in blueThe Sarasota real estate market saw sales leap by 22 percent in January 2013, compared to January 2012 – a great start for the new year, and evidence that the 2012 real estate market boom is continuing unabated.

Members of the Sarasota Association of Realtors® sold 626 properties in January – 466 single family homes and 160 condominiums. That compared to 365 single family homes and 148 condos sold in January 2012. The January sales represented a drop off from the December 2012 total of 828 sales. A similar decrease was seen last year from December to January. In 2012, sales increased markedly in February, March and April, climbing to 886 closed transactions in April before dropping off slightly in the summer months.

Pending sales, which predict future closings, were at 1,047 in January – the highest level in nine months, and well above the pending sales reported in January 2012 (963). This statistic, which represents properties that went under contract during the month, indicates the February sales could also be at a healthy level.

The available inventory remained near the lowest level in a decade, but rose somewhat in January 2013 to 3,846 from the December 2012 total of 3,657. The figure was still 1,000 fewer properties than in January 2012.

“We are seeing some sellers returning to the market to take advantage of the spring buying season, so our inventory level has increased slightly,” said SAR President Roger Piro. “The biggest current trend remains the high level of market activity – foot traffic at open houses, competitive bidding for available homes, and tremendous volume of sales.”

To view the full press release with statistics click here.

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2012 Resurgence in the Sarasota Real Estate Market

By | January 17, 2013

Rising-Home

Rising-HomeProperty sales for the year 2012 were the fourth highest in the 90-year history of the Sarasota Association of Realtors®, achieving 9,169 total sales. In 2003, sales in our market hit 9,697, followed by 11,267 in 2004 (the current all-time high) and 10,562 in 2005. The annual sales dropped to 6,358 in 2006 and bottomed out at 5,820 in 2008 before beginning the steady climb to the current level.

SAR members sold 828 properties in December 2012, representing an 8.3 percent increase from November’s 764 sales and a huge 28 percent increase over last December’s figure of 644 total sales.

For the complete press release and statistical charts visit:

http://www.sarasotarealtors.com/files/monthlystatistics/SRMagFeb2013Stats13011712021.pdf

 

 

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Sarasota Market Nearing 4th Best Year Ever

By | December 18, 2012

a-housing-graph

a-housing-graphThe Sarasota Association of Realtors just released the sales figures for the month of November. We are on pace to see the fourth highest number of annual sales in SAR’s 90-year history in 2012, after members sold 764 properties in November 2012, a robust 29 percent increase over last November’s figure of 602 total sales. The sales total was also 8 percent higher than in October, when 719 properties changed hands.

The category totals were 556 single family homes and 208 condos sold, compared to last November when only 435 single family and 167 condos were sold. This summer and fall, the market has remained extremely active, with open houses experiencing heavy foot traffic and multiple offers reported on many available properties. The available inventory remains near the lowest level in a decade, and the improving economy and employment picture have also helped fuel the real estate market recovery.

Click here

<a href=”http://www.sarasotarealtors.com/files/monthlystatistics/Dec2012Stats121214123214.pdf“>here</a>

to view the full press release.

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Sarasota Real Estate Sales Statistics for October

By | November 20, 2012

October 2012 sales jump 24 percent over last year!

The Sarasota Association of Realtors just released the statistics for the month of October which show that members of the Sarasota Association of Realtors® sold 719 properties in October 2012, a robust 24 percent increase over last October’s figure of 577 total sales. The sales total was also 10.9 percent higher than in September, when 648 properties changed hands.

The category totals were 516 single family homes and 193 condos sold, compared to last October when only 412 single family and 165 condos were sold. Over the last several years, the local real estate market has witnessed sales lulls in September and October. But this year, the market has remained busy and healthy in the early fall, following a very active summer. Foot traffic at open houses has remained strong and multiple offers on available properties have become routine. The inventory – at the lowest levels in a decade – is partially responsible for this trend, along with the improving economy.

For the full report and statistical charts click HERE.

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Sarasota Real Estate Market Update

By | October 23, 2012

The Sarasota Association of Realtors just released the sales statistics for the month of September showing that members sold 648 properties in September 2012, up almost 14 percent from last September, when only 570 transactions were closed. The figure was down almost 21 percent from the 819 sales in
August 2012, continuing the historic trends that normally show a sales lull in the early autumn.

The category totals were 500 single family homes and 148 condos sold, compared to last September when only 430 single family and 140 condos were sold. This summer was an exceptional one for local Realtors® who normally have a respite after the spring season. This year, traffic at open houses has been heavy and multiple offers on available properties have become the norm. Part of the reason for this has been the continuing decline in the inventory of available properties on the market.

Click Here to view the full report.

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July Sales Continue Hot Streak for Sarasota Real Estate

By | August 17, 2012

The Sarasota Association of Realtors just released the sales statistics for last month. The Sarasota real estate market remained active and strong in July 2012, with 699 closed sales reported by members of the Sarasota Association of Realtors. The total was 16.7 percent higher than the 599 sales reported in July 2011. The breakdown was 523 single family homes and 176 condos sold.

The normal seasonal influx of buyers tends to drop shortly after the Easter holiday, but this year higher sales have continued into the summer months. Real estate agents and brokerages have reported a busy and extended season, which resulted in a second quarter in 2012 that was statistically the best in seven years.

Click here to see the full report and statistical charts.

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

By | July 18, 2012

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.

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It’s A Great Time To Buy! The Basics of Supply and Demand in Sarasota

By | July 17, 2012

We get asked a lot, “When is the best time to buy a home here in Sarasota?” Well here is the answer… Based on historical data, the best months to typically get a better deal on a home is between July and October. Those are the months when we have the lightest Buyer traffic and when properties tend to sit on the market a little longer than usual. The old supply and demand law kicks in when we have fewer Buyers and more listings. In these times, there will be more Sellers who will be anxious to sell and can be found to make a better deal for the Buyer than if we were in the middle of our busier selling season. Common sense, I know, but an important piece of information. The data from Credit Suisse also shows our prices can typically be lower during those months. Come down to Sarasota and buy during the summer months! –Joe Cleary

Credit Suisse Historical Trends July 2012
(Information and research analysis is from Credit Suisse. Credit Suisse surveys real estate agents across the country each month about trends in buyer traffic levels, home prices, incentives, inventory levels, and the length of time needed to sell a home. In June, Credit Suisse received responses from 900 real estate agents across the country.)

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