Palmer Ranch Market- First Quarter '05 vs. '06

Here are the Palmer Ranch statistics as a comparison point between the first quarters of 2005 and 2006:

Residential Single Family Homes

Total Listings Taken : 2005- 143, 2006- 257 Up 80%
Total Number of Sales: 2005- 100, 2006-62 Down 38%
Mediam Sales Price: 2005- $415,250 2006- $502,500 Up 21%

Condominiums

Total Listings Taken: 2005- 96, 2006- 205 Up 114%
Total Number of Sales: 2005- 71, 2006- 42 Down 41%
Median Sales Price: 2005- $275,550, 2006 $282,500 Up 3%

Summary: Its a great time to be a buyer as we continue to see inventory accumulate. Its an unbelievable sitaution for buyers as sellers are seriously looking at all offers. In the condo sector, opportunity abounds as modest appreciation rates and improved condos are reselling for a modest investment return.

Outstanding Siesta Key Opportunity

I went out to eat last night at one of my favorite local restaurants, and was amazed at how many out of state license plates were clogging up the parking lot. Never in my life have I seen Sarasota this crowded with the influx of tourists. Siesta Key is bustling with life, which leads me to my point. I have just listed an outstanding 6th floor condominium in Harbor Towers which offers great investment potential. In peak season the rent will gross the owner over $4000.00 monthly. While cashflow properties on the Key are all but extinct, this unit is being remodeled and offers a way to invest in waterfront real estate in Sarasota with a nice opportunity to recoup out of pocket expenses. Send me an email to learn more.