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Real Estate News in Sarasota - April 21st, 2016
Inventory of available properties is on the rise in both counties. For single family homes in Sarasota County, inventory is up 5.6 percent from March last year, and up 5.0 percent in Manatee County. Condo inventory is likewise up in both counties, with Sarasota County up 22.1 percent, while Manatee County saw an increase of 21.5 percent year-over-year.
The months’ supply of inventory in the two-county area remains in the range from 4.7 to 5.4 months’ inventory this year, compared to 4.5 to 4.8 months last year. This statistic reflects the time it would take to sell all the active listings on the market at the current month’s rate of sales. Six months is the benchmark for a balanced market; anything higher is traditionally a buyer’s market and anything lower is a seller’s market. So while it is still a seller’s market, the return to balance is on the horizon.
“The moderate inventory increase is encouraging as it translates to more options for potential buyers...
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News for Sarasota, FL - September 10th, 2014 10:29am
2014 Sales Hit Record for Sarasota County; Manatee County Only 28 Sales From 2013 Record
The year 2014 closed with a flurry of sales in Sarasota County, propelling the annual total to an all-time record of 11,550 closed transactions, topping the 2004 total of 11,482. In addition, Manatee County came in at 7,976 sales, within 28 sales of the annual record of 8,004 set in 2013.
"This is truly historic news, and clearly demonstrates our region is experiencing a remarkable success story in real estate," said Association President Stafford Starcher. "Sarasota and Manatee counties have never seen this level of combined sales activity, which actually surpassed the 2004-2005 boom years of a decade ago. The credit goes to our members, who routinely provide excellent service to the buyers and sellers in our area. I couldn't be more proud of these amazing Realtors® and all those in industries that support real estate."
December saw closed sales in Sarasota...
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News for Sarasota, FL - December 10th, 2013 11:37am
Median sale prices climbed dramatically in Sarasota County in October 2013 compared to last October numbers. Single family home prices were up 11.6 percent ($185,776 this year compared to only $166,500 last year), and condo prices spiked by 20.7 percent ($175,000 this year compared to only $145,000 last October).

Monthly median prices are susceptible to swings based on sales at one end of the price spectrum. But even the rolling median price for the 12 months ending in October 2013 for single family homes was $180,000, up 22.4 percent from the 12-month median ending in October 2012 ($147,000). For condominiums, the figure was $162,900 this October, compared to $148,000 a year ago — a 10.1 percent increase. This means the overall price trend continues to move upward.

Total property sales in Sarasota County, which had seen large year-over-year increases over the summer months, moderated in October 2013. Overall property sales stood at 818 in October ...
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Real Estate market News for Sarasota, FL - March 1st, 2013 6:34am
Property sales for the year 2012 were the fourth highest in the 90-year history of the Sarasota Association of Realtors®, achieving 9,169 total sales. In 2003, sales in our market hit 9,697, followed by 11,267 in 2004 (the current all-time high) and 10,562 in 2005. The annual sales dropped to 6,358 in 2006 and bottomed out at 5,820 in 2008 before beginning the steady climb to the current level. www.sarasotahomerelocation.com

SAR members sold 828 properties in December 2012, representing an 8.3 percent increase from November's 764 sales and a huge 28 percent increase over last December's figure of 644 total sales.

The category totals in December were 606 single family homes and 222 condos sold, compared to last December when only 471 single family and 173 condos were sold. The available inventory remains near the lowest level in a decade. Other positive factors helping to propel the real estate market recovery include the low mortgage interest rate...
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National Market Conditions
2018 1st Quarter Market Report: Home Sales Steady - Prices Continue to Rise

The 1st quarter of 2018 ended on a good note with March existing home sales only down slightly over last year, and with 2018 home sales expected to exceed 2017 excellent year. Home Prices in 2018 continue to rise, increasing 5.8% over the end of March last year.

The most notable change in the 1st quarter was an increase in seller activity. Our survey showed that in 46% of the markets surveyed there were still more buyers than sellers, but a decrease of 27% from March 2017. Additionally, 17% of our markets surveyed showed more seller activity than buyer activity, an increase of 8% over last year. The remaining 37% of the markets showed an equal amount of buyer and seller activity which was an increase of 19% over last year. The increased activity, however did not ease the tight inventory 73% of our markets showing a very tight supply of homes available for sale. Home prices are also on the rise with 86% of markets showing price appreciation in the last year.

According the National association of Realtors (NAR) existing home sales in March were down 1.2% over last year, but annual sales are expected to hit 5.6 million units compared to 5.1 million in 2017; inventory of unsold homes is at a 3.6 month supply and 46% of all homes sold in under one month.

The data in this report is generated primarily from our survey of HouseHunt.com exclusive member real estate agents across the United States. This grass roots approach to studying the housing market gives us a thorough look at where the real estate market is through the eyes and perspective of the local real estate agents who are living and working in the trenches of each community.

Buyer and Seller Activity
The trend in both buyer and seller activity is up significantly in the 1st quarter of 2018 compared to the buyer and seller activity from last year. Buyer activity is steady or increasing in 94% of the markets surveyed and decreased in only 6% of the markets surveyed indicating a significant 8% increase in activity from Spring 2017. Simultaneously the trend for seller activity posted a solid 10% gain in the 1st quarter of 2018 with 85% of the markets indicating steady or increased seller activity compared to 75% of the markets at this time in 2017. Despite increased seller activity there are still more buyers than sellers and homes are selling quickly. In fact, according to NAR inventories have decreased to 3.6 month supply compared to 3.8 months in March of 2017. A balanced "normal market" is considered to be a 6 month supply of homes for sale.

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Fall 2018 Market Update
It�s a great time to buy on the Gulf Coast of Florida. Sarasota and neighboring master-planned community, Lakewood Ranch, offer some of the best deals and lifestyles available in the area. www.sarasotahomerelocation.com www.lakewoodranch.info
Average Sold Home Price: $575,000

Average Time on Market: 30-60 days

Best Selling Price Range: $350,000 - $399,000

Existing Home Prices for the past 90 days: Increasing

Market Trend: Decreasing

Buyer's or Seller's Market: More buyers than sellers

Buyer Activity for the past 90 days: Increasing

Seller Activity for the past 90 days: Increasing

Multiple Offers? Yes

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? 0-5%

Is Financing Available For Qualified Buyers? Yes

Housing Inventory: Limited Supply

Housing Inventory Comments: Inventory is getting extremely tight in the market place here. There are multiple offers occurring on desired homes. Buyers are learning to move quickly to obtain the home they really want as there are many others looking for the same type and condition of home. Prices are still at a point to provide good investment, but have risen slightly, and the ratio of selling to listing price is getting slimmer. For serious buyers, this necessitates finding your property quickly and place a reasonable offer so that you may buy the home and not be concerned that your dream home is snatched up by another buyer.

Greatest Activity: Repeat Buyers

Best reason to buy or sell: Population Growth

Nearest Metro Area: Sarasota

Housing Hot Spots: Sarasota. Lakewood Ranch, Bradenton �Housing Hotspots�

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Rick Libro
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Real Estate Professional, Rick Libro Rick Libro
RE/MAX Alliance Group
Specializing in Sarasota Real Estate
2000 Webber St
Sarasota, Florida 34239
941-504-2850
Email Me | Receive New Listings by Email
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(Because current market conditions can change rapidly in any given marketplace,
please check with Rick Libro for current Sarasota, FL market conditions before acting on this information.)
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