? ? During the 2nd Quarter of 2012, the Sarasota real estate market achieved the highest level of home and condominium sales in the past 7 years with 2,604 homes and condos sold in the April - June period.
? ? The 864 closed transactions in June alone represents the second highest number of home and condominium sales since September of 2005. The only higher point, according to one knowledgable Sarasota luxury homes Realtor, was in April of this year when sales were slightly higher at 886. As expected with the migration north of our snowbirders, the number of pending sales (properties under contract but not yet closed) dropped just slightly in June to 860 after four months in a row when pending sales topped 1,000.
? ? The available inventory of homes and condos on the market dropped again to another 10-year low of 3,816. The June inventory of homes for sale was a 4.1 month supply of single family homes and a 5.2 month inventory for condos. Whenever the number of housing units on the Sarasota MLS falls below a 6 month supply, pressure begins to build and prices start to rise. Demonstrating this market dynamic, the median sale price of single family homes in June was $178,500 while the median price on condominiums was $195,000, both numbers well above their 12 month running averages. Even as prices have begun to move upward, the most attractive waterfront and golf course homes and condos in excellent condition and reasonably priced are not only selling quickly, they are receiving multiple offers, something not seen for several years.
? ? The president of the Sarasota Association of Realtors (SAR) reported that the only two factors holding back the Sarasota real estatre market now are the remaining inventory of distressed properties which tend to hold down prices and the tight credit policies of banks and other lendedrs which limits the number of qualified potential buyers, especially first-time buyers.?
? ? Given the attractiveness of the Sarasota Bradenton area; warm climate, gorgeous beaches, abundant golf courses, a wide ranging and active arts and cultural environment, and plenty of things for retirees and others to do virtually every weekend, the metro Sarasota area remains a place very attractive to people of all ages.
? ? Upscale Sarasota luxury waterfront properties are very popular right now as are the most attrative golf course homes and estates. ?Sales of such luxury properties will accelerate even further as the economy improves,? says Sarasota homes for sale Realtor, Brian Ward.
? ? Another well-known Realtor, Bob Henley who serves the southern areas of the Sarasota real estate market including Siesta Key, Osprey and Venicem commented, ?People come to Florida to be on or near a beautiful beach and there?s just no better place for that than here in Sunny Sarasota Florida.?
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