November Sarasota Florida Real Estate Market is RED HOT
Excerpted from a news release - © Sarasota Association of Realtors
Posted December 22, 2009
The Sarasota Association of Realtors issued an article stating the the Sarasota real estate market remained "hot" in November with overall sales up by nearly 86% over the same month in 2008. Total sales were 578 housing units mirroring last month's 574 units sold
and much higher than the 311 home sales in November, 2008.
Pending Sarasota home sales, those under contract but not yet closed, were 793 slightly fewer than the October level of 839.
Some analysts expected a drop-off in sales as the first-time buyer $8,000 tax credit program came to an end. But, the extension of the $8,000 first-time buyer and expansion offering up to a $6,500 tax credit program to many non-first-time
buyers will likely continue to drive sales through at least April 30, 2010 when this extension of the program expires. The extended program requires that transactions be "under contract" by April 30, and be "close" on or before June 30, 2010.
Bank-owned and short sale homes still account for nearly half of the single family home sales and one-third of condominium sales and continue to
put downward pressure on prices making Sarasota and Manatee County homes and condos very attractively priced for now.
"We are experiencing a very active real estate market during the early part of our normal seasonal cycle when our Northern visitors and winter residents return"< said Bill Geller, 2009 Sarasota Association of Realtors President. He added, "Even during these periods of high unemployment and slower national economic activity, it is very encouraging to see the Sarasota area remain an
attractive place to purchase a home. The...trends indicate the market is returning to health. Higher sales and pending sales, stabilizing prices and lower inventories of unsold homes all point to a return to a vibrant real estate market."
The inventory of unsold single-family homes in November stood at 9.4 months, dramatically below the 27.6 months of inventory available for sale a year ago. For condo units,
the November, 2009 inventory stood at 14.6 months versus 40.5 months reported in November, 2008. Inventory is being quickly absorbed as the market recovers and that is a very positive sign
unless, of course a prospective buyer waits too long.
The charts below display Sarasota Florida real estate market activity as of November, 2009 including Sarasota, Lakewood Ranch and Bradenton and out on Siesta Key, Lido Key, and Longboat Key.
The real estate market in Sarasota, Bradenton, Lakewood Ranch, Siesta Key, Lido Key and Longboat Key is recovering rapidly from the almost depression-like doldrums of the past.
There are still bargains to be had, and with the added incentive of the extended tax-credit programs, if you've been dreaming of a
home in the Sarasota, Bradenton, Lakewood Ranch or on Lido, Longboat or Siesta Key, its time to contact an experienced and honest Sarasota Realtor like Judie Berger before its too late to own your dream home at a bargain price.
Judie Berger can lead you effortlessly and quickly through the process of buying a bank-owned, short sale or regular transaction home anywhere in the Sarasota real estate market. She can also
help you take advantage of the tax-credit program for first-time buyers and those who already own a home
but would like to move up to a bigger home or maybe a more prestigious neighborhood like a golf course or waterfront community.
|
