SARASOTA, FL, January 15, 2010
/24-7PressRelease/ -- Sarasota Florida real estate sales continue to march upward bucking the national trend. This beautiful city on the South West coast of Florida offers its residents warm weather, sunny skies, world-famous beaches, sophisticated shopping, and an eclectic array of restaurants as well as outstanding cultures venues.
Most Closed Real Estate Transactions in 33 Months
The
Sarasota real estate market saw the most closed transactions since March 2007 last month. There were 648 total property sales reported in December 2009. According to
Sarasota MLS numbers released, "Overall sales in December 2009 were also 52 percent higher than December 2008, when only 406 properties changed hands, and 70 sales higher than the 578 sales reported in November 2009. Median sale prices were also up last month for both single family homes and condos."
Erick Shumway, 2010 SAR President said "This is very good news, especially considering the fact that our market is showing considerable strength against a national backdrop of uncertainty," said 2010 SAR President Erick Shumway. "Sales are continuing to rise, and we're starting to see a return of appreciation as the available property market tightens and buyers look more toward arm's length sales instead of short sales and foreclosed properties."
Sales Up, Inventory Down
Trend lines for 2009 were dramatic. "Monthly home sales have climbed to the high 500s and low-to-mid 600s, compared to 2008 when sales often dipped to the low 400s and even into the 300s. The overall number of closed sales in 2009 stood at 6,699, compared to only 5,459 in all of 2008, for a 22.7 percent increase. In addition, the overall property inventory has plunged from the 10,000 to 13,000 range in 2008, down to the low 6,000 level at the end of 2009." The inventory of
Sarasota homes for sale in December 2009 was at the lowest since late summer of 2005 and the years prior to the boom period from 2003 - 2005.
A big positive in December was "the month's supply of homes, which fell to 8.1 months for single family homes and 12.3 months for condos," noted Erick Shumway. "These are the lowest figures in two years. Once they reach 6 months, the market is considered to be in equilibrium between buyers and sellers. Last year at this time, the figures were 19.1 months for single family and 31.8 months for condos. This is a huge difference in only a short period of time."
Sarasota real estate had a big finish in December 2009. It appears that Sarasota's market could continue to buck the trend, and Sarasota homeowners will have sunny days moving forward.
About Sarasota Florida
Sarasota is also world famous for its beaches and cultural offering. Many refer to it as Florida's ultimate beach town. Siesta Key Beach was recently rated the Second Best Beach in the United States by Dr. Beach.
Sarasota is also known as the "Cultural Coast of Florida" and is home to a professional symphony, opera and dozens of independent theaters. Sarasota's John and Mable Ringling Museum of Art, the Opera, the Asolo Repertory Theater, Van Wezel Performing Arts Hall and G Whiz Children's Science Museum are just a few of the venues that provide residents a full schedule of calendared events.
A great place to live, work and play - Sarasota's lifestyle is the choice for many baby boomers close to retirement. It is also a second home destination for many buyers from colder parts of the world.
Sarasota Florida is an international city making its real estate presence known to the world with a fabulous upward trend in real estate sales that is bucking the national market.
Allen Real Estate Services, Inc. is a 30 year boutique Sarasota Florida real estate brokerage specializing in luxury homes, waterfront properties, condos and golf communities. For more information, please visit
http://www.buysarasota.com---
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