Archive for the ‘Charlotte Market Reports’ Category

What Statistics Can’t Tell You About Today’s Real Estate Market

sailboat_sunsetAre you imagining sunsets that glisten off azure water, relaxing weekends spent on your boat, Gulf of Mexico temperatures like bath water ? Well, if you are like most buyers today, chances are you’ve been dreaming about leaving your land-locked property for the perfect waterfront real estate.

Statistics show us that home sales in Sarasota, Manatee, and Charlotte counties are trending in record-high territory while pending sales for March were the highest it’s ever been. But what is it that you can’t see among detailed percentages, pie charts, and dizzying statistics? The answer behind what is motivating these trends. (more…)

Residential Real Estate Market Trend Report for Southwest Florida – January 2013

Property sales throughout Sarasota, Manatee and Charlotte Counties declined in January compared with an unusually active December; but rose in comparison with last December. For the fifth straight month, the overall number of available properties rose, bringing some measure of relief to the region’s depleted inventory of properties as it entered its prime selling season.

Following are the combined highlights for the three-county region based on the latest Trendgraphix report covering January 2013 sales for Sarasota, Manatee and Charlotte Counties:

Click on the image below to view the full report for January

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New Book Chronicles Punta Gorda’s Earliest Days

FishermansVillageFrom the look and feel of today’s Punta Gorda, you would never suspect that this beautiful and magnificently-planned waterfront community on the southern edge of Charlotte Harbor grew and prospered despite very hardscrabble beginnings.

Those days are chronicled in “Punta Gorda:  In the Beginning, 1865-1900” a new book by Vernon Peeples, a former member of the Florida House of Representatives and a resident of Punta Gorda since 1933.

The painstaking research that went into the book’s telling of Punta Gorda’s early history was substantially augmented when Peeples was handed the daily journal of an 1874 Charlotte Harbor homesteader, Jarvis Howard, by one of Howard’s descendants  who was visiting the area.

Read more about early Punta Gorda—and how Peeple’s book came to be—in this recent article from the Sarasota Herald-Tribune, penned by Thomas Becnel.  Entitled “Punta Gorda’s history, warts and all”  it will give you a new appreciation of how this wonderful and welcoming community sprang to life.

Residential Real Estate Market Trend Report for Southwest Florida – December 2012

Property sales throughout Sarasota, Manatee and Charlotte Counties rose again in December, compared with the previous month; and were up substantially compared with last December. For the fourth straight month, the overall number of available properties rose, bringing some measure of relief to the region’s depleted inventory of properties just as it enters its busiest sales season.

Following are the combined highlights for the three-county region based on the latest Trendgraphix report covering December 2012 sales for Sarasota, Manatee and Charlotte Counties.

Please click on the image below to download and view the full report.

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Market Snapshot for October: Southwest Florida Outperforms the Nation

Southwest Florida Housing Recovery Outpacing The Nation

How appropriate it was that the days leading into Thanksgiving brought good news from the housing front that gave our region that much more to be thankful for.

First there was this, from the National Association of Realtors:  Despite low property inventories in many U.S. markets, sales of existing home rose nationally by 2.1% in October, versus the previous month; and were up by 10.9% compared with a year ago.

Meanwhile in Southwest Florida, October home sales dramatically outperformed the nation. Lower-than-normal inventories notwithstanding, combined sales throughout Sarasota, Manatee and Charlotte Counties rose by 9% compared with September; and were up by 18.6% over last October.  Pending sales—or those properties placed under contract, but not yet closed—were up by 23.7% over September; and up 33.1% compared with October 2011.    In fact, during every month of 2012, closed and pending sales have outpaced their corresponding month of 2011. (Source:  Trendgraphix, October 2012) (more…)

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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Sarasota Real Estate – Southwest Florida Property Market Mid-Summer 2012 Snapshot

8-YEAR INVENTORY TREND (BY QUARTER) FOR SARASOTA COUNTY

8-YEAR INVENTORY TREND (BY QUARTER) FOR SARASOTA COUNTY

 

As a result of unseasonably strong sales in June, buyers have reduced the number of available properties in Sarasota County to below 4,000 for the first time in seven years.  Similarly, the property count in Manatee County fell below 3,000 for the first time since August 2005 (See chart below).  In both counties, inventories have been whittled-down by three-quarters from their 2007 levels, when the number of unsold properties peaked during the market’s post-boom downturn.

 

8-YEAR INVENTORY TREND (BY QUARTER) FOR MANATEE COUNTY

8-YEAR INVENTORY TREND (BY QUARTER) FOR MANATEE COUNTY

 

There is presently a 4.2-month supply of properties in Sarasota County based on June’s rate of closed sales.  In Manatee County, there is a 4.7-month supply.  A 6- to 7-month supply represents a balanced market; with anything lower typically trending towards a seller’s market.

 

8-YEAR INVENTORY TREND (BY QUARTER) FOR CHARLOTTE COUNTY

8-YEAR INVENTORY TREND (BY QUARTER) FOR CHARLOTTE COUNTY

In Charlotte County, the overall property count is trending at its lowest level since September 2005, during the housing boom; and is 63% lower than in February 2007, when the inventory of unsold homes peaked during the post-boom downturn.

Sales of luxury properties over $1 million also exhibited unseasonable strength in June, with sales throughout Sarasota County besting last June by 79%.  Likewise, June sales of luxury properties throughout Manatee County were up 50% over last June.

The median price for a home in Sarasota County during the first six months of 2012 has risen by an average of 9% compared with the first six months of 2011; and in Manatee County has risen by an average of 5% over last year.  Charlotte County has shown the most dramatic rise in median, its year-to-date price up by an average of 17% over the first six months of 2011.

Home Builders: Twice as many “Improving Housing Markets”

WASHINGTON – Jan. 10, 2012 – The number of housing markets showing measurable improvement nearly doubled in January with the addition of 40 new metros to the National Association of Home Builders/First American Improving Markets Index (IMI). The IMI now shows 76 improving markets, up from 41 in December, with 31 states and the District of Columbia represented by at least one entry.

In Florida, three cities made it onto IMI’s improved list: Jacksonville, Cape Coral and Punta Gorda.

“The fact that the list of improving housing markets nearly doubled this month shows that a significant, positive trend is developing, and is even more relevant when you consider the expanding geographic distribution of the list – which now includes 31 states and the District of Columbia,” says NAHB Chairman Bob Nielsen. “This trend could be even stronger if not for the numerous impediments that continue to slow a housing and economic recovery, including overly restrictive lending policies and the growing inventory of distressed properties in certain markets.”

The IMI is designed to track housing markets throughout the country that are showing signs of improving economic health. The index measures three sets of independent monthly data to get a mark on the top improving Metropolitan Statistical Areas. The three indicators that are analyzed are employment growth from the Bureau of Labor Statistics, house price appreciation from Freddie Mac, and single-family housing permit growth from the U.S. Census Bureau. (more…)

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Southwest Florida Market Defies Housing’s Double Dip

While the housing market in many U.S. markets shows signs of a continued correction in prices, the market for properties in Southwest Florida continues to buck the trend with strong sales and rising prices, it was reported today (June 1) in the Sarasota Herald-Tribune.  See article for complete details:

Home prices take double dip

One of the most widely watched indexes of home prices in the nation plunged for the second quarter in a row, revealing continued weakness in the nation’s real estate market.

The Standard & Poor’s/Case-Shiller home price index, which measures 20 major metropolitan markets across the U.S., declined 4.3 percent during the three months ended March 31 compared with the same period a year earlier. The quarterly drop follows a 3.6 percent decline during the three months ended Dec. 31.

Regional statistics of late have run counter to the nationwide data, however, signalling that Southwest Florida, at least, is beginning to rebound from a housing crisis that was worse than in many parts of the country.

But for much of the U.S., housing markets have failed to sustain a rally that began in 2009, when prices started drifting upward.

More significantly, the price averages now have dipped to their lowest levels since the nation’s housing bubble burst four years ago, a point many economists and real estate watchers believed represented the bottom for home prices and the worst of the housing crisis.

“This month’s report is marked by confirmation of a double dip in home prices across much of the nation,” said David M. Blitzer, chairman of the index committee for Standard & Poor’s.

(more…)

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Sarasota, Manatee & Charlotte Counties: Year Over Year Sales Comparison

May’s year-over-year home sales were up by nearly 20 percentage points in Sarasota County and by almost 35 percentage points in Manatee County; as inventories of available homes dropped by 13.9 and 9.6% respectively. Pending sales were basically flat in Sarasota County, rising by only .4%; but were up 16.3% in Manatee County.

In Charlotte County year-over-year sales for May were up 2.3%, pending sales were up 5.3%; and the inventory of available properties declined by 4.4%.

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