Archives August, 2012

Sarasota Real Estate – 7-Year Inventory/Sales Trends for Sarasota, Manatee & Charlotte Counties (By Quarter)

MARKET SNAPSHOT FOR JULY 2012

 

— The number of closed sales in July slipped 14.3% below June; but was nearly 12% ahead of last July. The relative month-to-month decline would normally be attributed to our market’s traditional summer slowdown. But because demand for properties remains high in the face of steep declines in prices and inventory, this July’s softness in sales probably has more to do with the lack of choices inhibiting buying.

— Pending sales, on the other hand, continue to show strength in July with homes placed under contract (but not yet closed) up by 10.2% over June;  and up 33% compared with last July.

— The inventory of available properties throughout Sarasota, Manatee and Charlotte Counties continued its steady decline in July. As of the end of the month, the number of available properties was 3.3% lower than in June; and 23.9% lower than July 2011. Inventories across all three counties are now at their lowest levels in seven years.

— Prices, for the most part, are definitely firming; but have actually risen significantly in many in-demand neighborhoods and popular price ranges. Contact an agent from Michael Saunders & Company, or visit michaelsaunders.com to learn about the exact conditions in the neighborhoods and price ranges where you are considering buying or selling.

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Siesta Key Real Estate Report – Dolphin Bay

Siesta Key Real Estate Report: Dolphin Bay

An Owner’s View of Dolphin Bay on Siesta Key…
as told by Sara Chester, Sarasota real estate agent and Dolphin Bay resident:

Many of us remember a wonderful restaurant and night club on Siesta Key called Magic Moments. This is now the location for Dolphin Bay, a condominium complex containing three buildings with a total of only 50 units—and certainly a community with its share of “magic moments!”

Built between 1997 and 1998, Dolphin Bay on Siesta Key boasts three Har-Tru tennis courts, an exercise room, a beautiful clubhouse and a pool—along with 50 sets of friendly owners, making this a paradise within a paradise. There are weekly barbeques, clubhouse activities and parties that are enjoyed by all. The grounds and buildings are kept to perfection, and the day dock and fishing pier are set right on Little Sarasota Bay for an additional attraction. A short walk takes the owners to world-famous Siesta Key Beach, recently voted the #1 beach in the nation.

Those who own here are happy and proud to be a part of each “magic moment” at Dolphin Bay. (more…)

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Sarasota Real Estate – Our Market at a Tipping Point

After several years of being the poster child for America’s blighted economy, the U.S. housing market is now one of its few dependable bright spots.

In Southwest Florida, the furious pace of buying has reduced the inventory of available properties to its lowest level in seven years amid early signs that prices are beginning to trend up.  With a 6-month inventory of properties being the traditional dividing line between a buyer’s and seller’s market, our region currently has a 4.7-month supply—more in certain neighborhoods and price points, less in others.

If selling your home has been a goal too long deferred by the frustrating length and depth of the housing downturn, now is a good time to step up.  While it once took months—or years—to sell a property, competitively priced properties are now routinely bound to contract within days (or even hours) after being placed on the market and may receive multiple offers.

With buyers motivated almost exclusively by housing’s rediscovered affordability, price is still the key to a quick sale.  Statistics show that 85% of buyers tend to focus on only about a third of the listed properties in any given market.  The other two-thirds are rejected as being over-priced, under-maintained or both. (more…)

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