Sarasota Florida Real Estate Sales He...
Total unit sales in the Sarasota real estate market for July 2009 were up substantially from 2008 levels. In fact, total unit sales were up 29 percent to 595. There were 450 single family homes and 145 condos sold this year in July, compared to 331 single family homes and 145 condos sold in July 2008.Sarasota Inventory Levels Declining
Single family homes and condo inventory levels are also declining. Existing home inventory dropped to levels not seen in three years. According to the Sarasota MLS statistics, "There were 4,067 single family homes for sale at the end of July, down from 4,477 at the end of June. Condos experienced a similar decline, to 2,447 from 2,587. Inventory is now at its lowest point in more than 5 years." The SAR report also indicates that "the number of months of inventory - the time it would theoretically take to sell all the current properties on the market - now stands at 9.04 for single family and 16.9 months for condos. This is in stark contrast to last year at this time, when the figures were 26.2 months for single family homes and 35.4 months for condominiums." A six month or below figure in this category points to a return to a seller's market.
Prices of homes for sale in Orlando were slashed by 13.16 percent, or $25000, and Jacksonville home sellers cut prices by 10.76 percent, or $19000. and more »