Bradenton Florida Real Estate News

Monday, November 26, 2007

Good News: Our Bradenton Florida Real Estate Market is Only Down 6 Percent

According to numbers just released by the Florida Association of Realtors the median price of a home in Bradenton - Sarasota was $283,800 in the third quater. That's just 6 percent below where it was in the same quarter of 2006. How can that be good news?

Well, in the second quarter of this year home prices were 11.3 percent below what they were in 2006. That means the rate of decline is slowing. That's good news. Maybe our market is starting to recover.

Also noted is that Bradenton - Sarasota was the fourth highest metro area in the state of Florida in number of home sales in the third quarter.

The article stated, "Experts have often surmised that the Bradenton - Sarasota market would be among the first to recover because it is a forerunner during the boom and subsequent correction in the market."

So this article had some good news in it.

(Copyright © 2007 By Dan Forbes, All Rights Reserved.)

Please give me, Dan Forbes, a call if you have questions about our Bradenton, Florida real estate market at 941-746-0505; toll free 877-646-8326. Visit BradentonFloridaRealEstate.Com ; my blog The Real Estate ZOO.

Labels: ,

Monday, November 19, 2007

Happy Thanksgiving From Premier Team

We want to wish all of our customers and friends a Happy Thanksgiving!

Without you our business would not exist. We are so grateful for your business, loyalty, referrals, and support over the years.

This is a special time of the year and so want you to know that we are counting our blessings and you are one!

- Dan Forbes, Marie Avery, Lee Forbes, and Jean Trousdale


Thursday, November 08, 2007

Manatee County Sellers Are in Denial

This is our Market Conditions Report for Manatee County Florida.

Our local MLS is flooded with Pre-foreclosure listings, short sales, and foreclosed properties. This is driving our home prices down even further on a DAY BY DAY basis. Our market slide continues its downhill direction. You can almost hear the prices falling.

Every week 10% of the homes on the market have reduced their price. That means in 10 weeks effectively 100% of homes competing with yours have lowered their price. Have you?

What’s curious is that most sellers are in denial. Many are holding out false hopes that things are going to get better next month or next year. Sadly, that's not going to happen. We may be looking at 2010 before recovery comes to the Bradenton - Sarasota market.

We study this market every day and there are no good numbers to report! Believe me, when we start to see a turn around, you will be the first to know. Right now it’s time to move from denial into reality.

We now have over a 3 year of supply of homes on the market overall. In some price ranges we have a 9 year supply of homes on the market! Good grief!

The Total Market Overview Reports below show by price range:

  • Current number of active listings

  • Number of expired listings for the month

  • Total Number of Pending Listings

  • Number of closed sales for the month

  • Absorption Rate

  • Average List Price and Average Sale Price

  • Average Days on Market

  • Market Trend: Improving or Not

  • Compared to 6 months ago

  • Compared to 1 year ago

If you would like to discuss the market with us, please give Dan Forbes or Marie Avery a call at 941-746-0505.

Labels: ,