Bradenton Florida Real Estate Market Conditions Report

PREMIER TEAM’s

Market Conditions Report Summary

November 2007

(from our study of the Gulf Coast Regional Multiple Listing Service)

Statistics for Single Family Homes

• Total Listings: 4354 - Up 2.7% over last year. DOWN 6.8% from last month


• Total Solds: 161 - Down 11.55% year to year, and Up 25.7% from last month . 96.25+% of homes for sale DID NOT SELL in November.


• Median Sales Price: $180,000 – Up 10.4% from a year ago. Down 24.2% from high of 2005


• Absorption Rate: 27.0 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. Last year: 23.4 months.


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  Average Days on Market: 106 – Up 15.2% over last year
  

Statistics for Condos

• Total Condo Listings: 2002 – Up 3.2% over last year. Up 2.1% from last month


• Total Solds: 57 – Up 35.7% year to year and Up 23.9% over last month.


• Median Sales Price: $180,000 – Up 10.4% from a year ago. Down 24.2% from high of 2005


• Absorption Rate: 35.1 months. Last year: 46.2 months.


• Average Days on Market: 140 – Up 70.0% over last year

Finally, Things Are Looking Up!!!

The dark clouds may be parting in our Bradenton real estate market. There just may be more good news than bad news. We may have reached the tipping point. Could 2008 begin the recovery in our market? It appears hopeful.

• Inventory is going down. That is significant.


• Sales are going up. Another signficant number.


• Days on Market. Well, they increased, which is not good. Look for this to turn around as the market improves.

Here is the detailed Market Conditions Report:
Total%20Market%20Overview%20PDF