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.