Market Conditions Report - Jan 2007
Premier Team’s
Market Conditions Report Summary – Jan 07
Bradenton - Sarasota , Florida Real Estate Market
(from our study of the Gulf Coast Regional Multiple Listing Service)
Statistics for Single Family Homes:
Total Single Family Home Listings: 4358 - Up 49% over last year. Up 6.3% from last month!
Total Solds: 115 - Down 38% year to year . 97.4% of homes for sale DID NOT SELL in January.
Median Sales Price: $279,000 – Down 11.7% from last year and down 20.2% from 2005 high
Absorption Rate: 10.3 months. This is how long it would take to sell all of today's listings at the rate homes are selling and if no other homes were listed.
Average Days on Market: 100 - Up 96% over last year
Statistics for Condos:
Total Condo Listings: 2148 – Up 88.1% over last year.
Total Solds: 33 – Down 46% year to year
Median Sales Price: $235,000 –
Absorption Rate: 13.7 months – A slight decrease.
Average Days on Market: 101 – Up 98%
Summary: Our Market is STABILIZING (we hope)!
The signs of market stabilization are wishy washy. What has been evident for the rest of the state is struggling to take hold here in the Manatee – Sarasota market. Last month’s decrease in total inventory was strong reversed with a 6.3% increase in the number of homes for sale. One postive sign is that the absorption rate (supply and demand) dropped from an 11 month supply of listings to a 10.3 month supply. That happened because of the strong increase in pending sales (a positive sign).
97.4 % of the homes for sale DID NOT SELL in January. If you are serious about selling you MUST price your home competitively!!
The condo market had a slight improvement in the absorption rate and the number of pending sales was up. However, total inventory continued to rise. There no signs of stabilization yet in the condo market.
Prices may at best remain flat in the coming months, perhaps through 2008. 2009 should bring price gains as population growth continues in the Bradenton – Sarasota area.
As we hit the bottom of the current real estate cycle, this is a great time to buy. Don’t make the mistake of looking back a few years from now and regretting that you failed to take action!
Market Conditions Report Summary – Jan 07
Bradenton - Sarasota , Florida Real Estate Market
(from our study of the Gulf Coast Regional Multiple Listing Service)
Statistics for Single Family Homes:
Total Single Family Home Listings: 4358 - Up 49% over last year. Up 6.3% from last month!
Total Solds: 115 - Down 38% year to year . 97.4% of homes for sale DID NOT SELL in January.
Median Sales Price: $279,000 – Down 11.7% from last year and down 20.2% from 2005 high
Absorption Rate: 10.3 months. This is how long it would take to sell all of today's listings at the rate homes are selling and if no other homes were listed.
Average Days on Market: 100 - Up 96% over last year
Statistics for Condos:
Total Condo Listings: 2148 – Up 88.1% over last year.
Total Solds: 33 – Down 46% year to year
Median Sales Price: $235,000 –
Absorption Rate: 13.7 months – A slight decrease.
Average Days on Market: 101 – Up 98%
Summary: Our Market is STABILIZING (we hope)!
The signs of market stabilization are wishy washy. What has been evident for the rest of the state is struggling to take hold here in the Manatee – Sarasota market. Last month’s decrease in total inventory was strong reversed with a 6.3% increase in the number of homes for sale. One postive sign is that the absorption rate (supply and demand) dropped from an 11 month supply of listings to a 10.3 month supply. That happened because of the strong increase in pending sales (a positive sign).
97.4 % of the homes for sale DID NOT SELL in January. If you are serious about selling you MUST price your home competitively!!
The condo market had a slight improvement in the absorption rate and the number of pending sales was up. However, total inventory continued to rise. There no signs of stabilization yet in the condo market.
Prices may at best remain flat in the coming months, perhaps through 2008. 2009 should bring price gains as population growth continues in the Bradenton – Sarasota area.
As we hit the bottom of the current real estate cycle, this is a great time to buy. Don’t make the mistake of looking back a few years from now and regretting that you failed to take action!
Labels: Market Conditions
posted by Dan Forbes at
9:11 AM
0 Comments:
Post a Comment
<< Home