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

REGIONAL SNAPSHOT FOR September 2013

Although property sales throughout Sarasota, Manatee and Charlotte Counties in September declined by nearly 15% from August, they rose by 10% compared with last September.  The decline is thought to be mainly the result of dwindling inventories that have pushed home prices higher, pared down the number of well-priced buying opportunities; and thus slowed the pace of purchasing—particularly by the larger institutional investors.

 Pending sales, on the other hand, were up nearly 16% over last September, which portends improvement in closed sales as our market approaches its traditional high selling season. 

 “As September is traditionally a quiet period for most of our region’s economic sectors, it is not uncommon for real estate sales to soften this time of year,” says Michael Saunders, founder and CEO of Michael Saunders & Company.  “Additionally, with prices on the rise and inventories low, the large institutional investors—who helped jump-start our market to begin with—are becoming less of a presence in the market.  This is enabling more purchases by buyers who plan to occupy the homes, a sure sign that our market is edging closer to normal.”

To continue reading the Market Trend report for September, please click on the image below:

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