Sarasota Real Estate News

Once again the Sarasota real estate markets has a good report. Statistics from the Sarasota Board of Realtors were released today and Sarasota bucked

the Sarasota bucks national trend with best sales report in 33 months
With 648 total property sales reported in December 2009, the Sarasota real estate market saw the most closed transactions since March 2007, a 33 month span. Overall sales in December 2009 were also 52 percent higher than December 2008, when only 406 properties changed hands, and 70 sales higher than the 578 sales reported in November 2009. Median sale prices were also up last month for both single family homes and condos.

For the full year 2009, the trend lines have been dramatic. Monthly home sales have climbed to the high 500s and low-to-mid 600s, compared to 2008 when sales often dipped to the low 400s and even into the 300s. The overall number of closed sales in 2009 stood at 6,699, compared to only 5,459 in all of 2008, for a 22.7 percent increase. In addition, the overall property inventory has plunged from the 10,000 to 13,000 range in 2008, down to the low 6,000 level at the end of 2009.

Sarasota’s warm weather and resort lifestyles are the big draw, and realtors in this area haven’t experienced a slowdown like other parts of the country.

Eric Shumway pointed out that “this is very good news, especially considering the fact that our market is showing considerable strength against a national backdrop of uncertainty.” The SAR 2010 President said “Sales are continuing to rise, and we’re starting to see a return of appreciation as the available property market tightens and buyers look more toward arm’s length sales instead of short sales and foreclosed properties.”

“The inventory level in December 2009 was at the lowest level since late summer of 2005 and the years prior to the boom period from 2003 – 2005.”

If our telephone and internet traffic is any indication, we’re in for a good sales of Sarasota real estate for 2010!

If you are interested in scheduling showings, please contact Annette Smith or John Allen. Our showing calendar for Sarasota real estate is heating up too!

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