May property sales throughout Southwest Florida continued to show strength uncharacteristic of the usually slower post-winter months. Particularly strong were pending sales, causing further erosion to our already diminished inventory.
Following are the combined highlights for the three-county region based on the latest Trendgraphix report on May sales for Sarasota, Manatee and Charlotte Counties:
-May sales were 6.9% below April; but 2.7% ahead of last May.
-May pendings were 6% ahead of April; and 35.7% better than last May
- May’s inventory of available properties in the three-county area was down 6.8% compared with April; and down by 24.4% compared with May 2011.
- Presently there is a 4.6-month supply of available properties based on May’s rate of closed sales. This is even with the 4.6-month supply in April and below the 6.2-month supply of last May. A 7-month supply is considered a healthy balance between supply and demand; and the traditional dividing line between a buyer’s and seller’s market
- There is now a 3.8-month supply of properties based on May’s rate of pending sales. This is down from the 4.3-month supply in April; and down from the 6.7-month supply recorded last May.
**Click on the image below to download and view the full trend report.