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Sarastota Real Estate stats for november

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  • 1. Property sales decline in September; distressed sales keep damper on prices September 2010 looked a lot like August 2010 in the “The one factor that continues to be continues one afactor on that “The to be drag the Sarasota real estate market, a drag on the median sale prices has median sale prices has been with sales and prices virtually been the level of distressed sales. We the level of distressed sales,” identical to the previous month. said Shumway. “We continue In fact, September 2010 was also continue to have a market heavy on to have a market heavy on virtually identical to September short sales and bank-owned property short sales and bank-owned 2009 in overall sales and median sales.” - SAR President Erick Shumway property sales. Once those prices. percentages drop, we should Property sales in September see a return to clear property 2010 stood at 547 total sales, price appreciation.” compared to 567 last month The level of sales of and 554 last September. Prices distressed properties were also virtually identical. (foreclosures and short sales) September 2010 saw a median rose in September 2010 to 54.6 sale price of $155,000 for single percent, from last month’s family homes and $150,450 figure of 47 percent. This for condos. This compares was the highest percentage to $154,500 last month and since the distressed market $165,000 last year for single began to show dominance family homes; and $155,000 locally. Distressed market last month and $162,500 last sales previously reached a year for condos. In effect, the high just below 50 percent in market has essentially stood still for 12 months, with late 2009, and have hovered in the range between 44 and 48 minor fluctuations in prices month to month. There was an percent since that time. The median sale price for distressed expected spike in sales experienced during the three months sales continues to be less than half as much as for normal of the federal $8,000 homebuyer tax credit period. arm’s length sales – in many cases approaching only a third “We’ve observed a very steady local real estate market as much. for the past 12 months,” said 2010 SAR President Erick The property inventory level has remained fairly Shumway, noting the market stability is a welcome trend. consistent for months, hitting 6,163 in September 2010, The median sale price for single family homes over which remains one of the lowest monthly levels since late the past 12 months was $164,000, and for condos was summer of 2005. $169,000. Last year at this time, looking back over the The months of inventory for single family homes in previous 12 months, the median sale price for single family September 2010 rose to 9.9 months from 9.5 months in was $165,000, and for condos was $200,000. August. The figure was 9.8 months in September 2009. There were 404 sales of single family homes in September This figure represents the number of months it would take 2010, compared to 408 last month and 399 in September to sell all available homes at the current pace. For condos, 2009. There were 553 pending sales last month, which the figure rose to 15.1 months from 13.5 months in August reflect future closing activity. The inventory rose slightly, 2010. It was also at 15.1 months in September 200. Once from 3,887 to 4,007. the market reaches the 6 month level it is considered to be in equilibrium between a buyers and sellers market. Condos saw 143 sales in September 2010, compared to 159 last month and 155 in September 2009. There were 191 pending sales reported in September, slightly lower than last month’s 217, but higher than the 185 reported last Velashape for Size September. and Cellulite Reduction Triniti for Skin Tightening Distressed condo sales have dragged the overall median and Rejuvenation price down substantially, with normal arm’s length sales Elos Hair Removal garnering three-times as much as bank-owned properties, Medically-Supervised Weight Loss and twice as much as short sales on average. 2828 South US 41 Sarasota, Fl 34239 Overall pending sales dropped slightly in September to 744 from last month’s figure of 816.
  • 2. Sarasota MLSSM Statistics September 2010 Single Family Unit Sales Condo 700 600 500 400 300 200 100 0 Sep‐09 Oct‐09 Nov‐09 Dec‐09 Jan‐10 Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10 Jul‐10 Aug‐10 Sep‐10 Single Family Median Sale Price Condo $250,000 $200,000 $150,000 $100,000 $50,000 $0 Sep‐09 Oct.09 Nov. 09 Dec‐09 Jan‐10 Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10 Jul‐10 Aug‐10 Sep‐10 Single Family    Average  Median  Median Last  Months  Pending  # New  # Off  #Active  #Sold  %Sold  %Pending  DOM  Sale Prices  12 Months  Inventory  Reported  Listings  Market  This  Month  4,007  404  9.9  179  $155,500  $164,000  9.9  553  13.8  824  230  This  Month  3,915  399  10.2  174  $165,000  $165,000  9.8  614  15.7  778  193  Last Year  Last  Month  3,887  408  10.5  178  $154,500  $161,000  9.5  599  15.4  806  215  YTD  ‐  4,222  ‐  174  $164,975  ‐  ‐  5,699  ‐  7,712  ‐      Single Family – Sale Price Vs. List Price % Rates   Jan  Feb  Mar  Apr  May  Jun  Jul  Aug  Sept  Oct  Nov  Dec  2009  93.0  93.1  92.5  92.4  93.2  93.8  93.2  93.6  94.2  94.4  94.1  94.2  2010  94.4  92.8  95.2  94.8  95.2  95.3  94.7  95.2  94.6  ‐  ‐  ‐    Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of Oct. 11th, 2010, including some listings in Manatee, Englewood, Venice, and other areas. Single-family statistics are tabulated using property styles of single-family and villa. Condo statistics include condo, co-op, and townhouse.
  • 3. Sarasota MLSSM Statistics September 2010 Single Family Inventory Condo 5,000 4,000 3,000 2,000 1,000 0 Sep‐09 Oct‐09 Nov‐09 Dec‐09 Jan‐10 Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10 Jul‐10 Aug‐10 Sep‐10 Single Family Pending Sales Condo 900 800 700 600 500 400 300 200 100 0 Sep‐09 Oct‐09 Nov‐09 Dec‐09 Jan‐10 Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10 Jul‐10 Aug‐10 Sep‐10 Condo    Average  Median Sale  Median Last  Months of Pending  # New  # Off  #Active  #Sold  %Sold  %Pending  DOM  Prices  12 Months  Inventory  Reported  Listings  Market  This  Month  2,156  143  6.6  209  $150,450  $169,000  15.1  191  8.9  262  189  This  Month  2,337  155  6.6  208  $162,500  $200,000  15.1  185  7.9  266  217  Last Year  Last  Month  2,152  159  7.4  193  $155,000  $169,900  13.5  217  10.1  254  169  YTD  ‐  1,645  ‐  204  $165,000  ‐  ‐  2,171  ‐  2,778  ‐    Condo – Sale Price Vs. List Price % Rates   Jan  Feb  Mar  Apr  May  Jun  Jul  Aug  Sept  Oct  Nov  Dec  2009  91.0  90.2  90.4  92.2  90.1  91.4  92.1  92.4  91.5  92.4  92.3  93.1  2010  92.5  92.4  92.5  93.2  94.2  93.7  94.2  93.5  93.2  ‐  ‐  ‐    Median sales price is the middle value, where half of the homes sold for more, and half sold for less. Listings sold were closed transac- tions during the month. Pending sales are sales where an offer has been accepted during the month, but the sale has not yet closed. Even though some pending sales never close, pending sales are an indicator of current buyer activity. DOM indicates the average number of days that sold properties were on the market before a contract was executed.