Sarasota Florida Real Estate

Also 967 pending  sales..the second highest total in the past 4 years !  And for you stats folks… here is a great link for you >>>> 

http://www.sarasotarealtors.com/files/monthlystatistics/Feb2010StatsSRMagApril2010100312123523.pdf

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http://www.heraldtribune.com/article/20100329/ARTICLE/303299999/2416/NEWS&tc=email_newsletter

Southwest Florida’s Population is expected to rise slightly this year according to population experts at UF’s Bureau of Economic and Business Research.

Statewide, the same study estimates the state’s population will rise by 23,000 to about 18.8 million people this year.

The study also estimates the southwest region, which includes Sarasota, to rise by about 37 percent over the next 25 years.

In a case of deja vu all over again, December sales stats for Sarasota demonstrates the magnetic attraction Sarasota  and the Islands enjoys. Bucking the national trend, December housing sales in southwest Florida rose 43 percent compared to the same time a year ago. Meanwhile, the nation as a whole saw a 17 percent drop.
Most seller’s have lowered their prices substantially and buyers are feeling comfortable with the value they’re receiving. This will always be an excellent place to own a home, no doubt about it!

Sarasota’s real estate market has improved for both sellers & buyers. Here are some stats to illustrate this point:
1) Lower inventory. 6435 single family homes for sale October 2008, by October 2009 that number had dwindled to 3895. That represents a 9 month inventory supply which is getting close to normal. 2) Lower Median Sales Price. $172,450 for single family homes in October, 2008, $151,000 in October 2009.
3) For condos, inventory has stayed relatively constant, but take a look at The Median Sales Price year over year: $349,000 in October 2008 vs $220,000 in October, 2009!

Earlier this week on the Today Show, Barbara Corcoran, Real Estate Correspondent, said Sarasota, Florida is the number one place in the NATION to buy a home today!

We Wanted to Share this Video From The Broadcast of The Today Show, For Those Who Have Visited Sarasota Before, This is no Surprise. We were one of the hottest narkets during the boom for valid reasons. Now that prices have dropped so dramatically, it is now a good time to buy again.

WATCH THE VIDEO HERE!

According to the interview, Sarasota prices have stabilized and are heading back up, and the community attributes (as we all know) – the beaches, the weather, the culture, the homes and the people – are too good to pass up.

Sales in Sarasota-Bradenton increased 23% in August, compared to the same month a year ago. At the same time, the medium price fell 25% during that time. it now stands at $164,200 for the Sarasota & Bradenton area.

Throughout Florida, the same trend of increased sales and lower prices prevailed. Statewide, the median price fell 22% while sales increased 28%.

As predicted by many of us, lower prices are leading to higher sales volume. Buyers once priced out of the super-heated real estate market are returning to claim their place in the sun!

It is becoming increasingly obvious that Sarasota is becoming a hot place to buy property again. Numerous national articles, along with “word on the street” point to a sustainable recovery well under way. There are many well priced properties on the market among many over-priced properties. It is very important to enlist the services of a local Realtor who knows the area and has the experience to guide you in your search.
In some neighborhoods, the bottom has been here and gone and your best opportunity was actually winter and spring of this year. A case in point; A fellow Realtor listed a house last month in Southgate and based her price recommendation on comparable sales from May. The list price of $116,000 brought over 30 showings in less than a week, along with five offers over the list price. This is a basic 2/2 in need of updating. I showed it myself and it was nothing special. The good news for the seller is, instead of a short sale as they had expected, the property will be sold for enough to pay off all liens and avoid the need to short sale. Good news for all parties involved.
- Michael James

February 2010 the Baltimore Orioles will begin their spring training at Ed Smith Stadium in Sarasota.
The Sarasota Chamber of Commerce estimates the move of the Baltimore Orioles and the establishment of a Ripken Baseball Academy would create 700 jobs and generate $52 million in the local economy. The baseball academy will run all year-round, as opposed to only six weeks of spring training.