Well, there's always good news and bad news- and they usually come together. The GREAT news that as a whole, the MLS pended sales for last month were 430, a level equal to last January when the market was totally different. That is a great sign of the vibrance of our market. While we are seeing the same level of buyer activity, listings are taking a great deal of time to sell with over 4 times the inventory of last year!
Here are some more comparative stats, and the essence remains the same: While sale prices are up, so are listings. Total sales are down for the year despite recent signs of a healthy resurgence.
These stats are comparative for 1/1 to 4/31 for 2005 vs 2006.
Palmer Ranch Single Family Homes
Total Number of Listings Taken: 2005: 175 2006: 327 Up 87%
Total Number of Sales: 2005: 138 2006: 81 Down 41%
Median Sales Price: 2005: $416,750 2006: $499,900 Up 20%
Palmer Ranch Condominiums
Total Number of Listings Taken: 2005: 146 2006: 259 Up 77% (flippers beware)
Total Number of Sales: 2005:100 2006: 62 Down 38%
Median Sales Price: 2005: $272,775 2006: $282,500 Up 2%
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Up to date and accurate information on the Sarasota Florida real estate market that you can use to your advantage. Provided for you by Drew Russell, REALTOR, GRI 941-993-3739 or by email: drewrussell@michaelsaunders.com.
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- Drew Russell
- Cell Phone : 941-993-3739 Email: drewrussell@michalesaunders.com This is my unbiased take on the state of the Sarasota area real estate market. As an active agent with Michael Saunders and Company and an investor I am deeply involved in our market. The views posted on this page are my opinion and will probably differ from others. My hope is that you will find this forum to be a valuable resource as you consider your level of particpation in this real estate market.