Sarasota home sales soar in September,2009

Sarasota home sales skyrocketed in September. The median price was held down by bank-owned and short sales.

Real estate "guru", Barbara Corcoran, proclaimed Sarasota to be the #1 city in the country which to buy a home right now during her appearance on the October 6th Today Show. She cited the dramatically lower property prices that have resulted from lots of foreclosures and short sales in the area in recent months. She also noted, however, that prices have just now begun to swing back up. She also praised the unique sports, arts and cultural appeal of the Sarasota - Bradenton area as well as the excellent health care and school facilities available in Sarasota and Manatee County.

Home and condo sales soared by 35% in September 2009, compared to the same month last year, and nearly 10% over August of this year.

If you have been considering buying that seasonal golf course community or waterfront home for now, planning to move to Sarasota permanently when you retire, now is the time to get down here and see bargain prices that haven't been seen in the past several years.

Sarasota Real Estate is Picking Up At Last

DON'T BE LEFT OUT
The latest home sale figures for the Sarasota real estate market published by the Sarasota Association of Realtors point to a slow-but-sure improvement driven, in part by first-time buyer tax credits, but also by substantially lower prices.

Combined home and condo sales totaled nearly 500 units again in August compared to only 329 sold in August, 2008. While sales were down from July's total of 595, this was an expected drop since Summer is traditionally the slowest period for home sales in the Sarasota - Bradenton area. Inventories of unsold homes are at the lowest level in more than 5 years. Pending sales, those homes and condos under contract, but not yet closed, in August were 820, up 50% from the 541 pending sales in August of 2008.

The median single family home price in August for a was $155,000, very close to the figures in January through May showing that prices are stabilizing. The median sale price for condominiums was $285,000 up substantially from the $212,000 in July also showing not just a stabilization, and maybe even the start of a recovery.

These latest Sarasota home sales statistics continue to give evidence of a real estate market in the early stages of a recovery and point to a stabilization of home prices. "With high levels of foreclosures and short sales still remaining in the local market, we can reasonably expect sales statistics to be skewed" says Bill Geller, President of the Sarasota Association of Realtors. "However," he says, "we may be seeing a turning point in recent months as the numbers seem to have bottomed out ... People who live here and those who visit know there is no place like Sarasota..."

If you have dreams of moving to Sarasota, Bradenton, Longboat Key, Siesta Key, Lido Key or Lakewood Ranch in a waterfront or golf course community, or just owning a second home here, this is a great time to get involved with a knowledgeable Realtor before prices that have now stabilized start to move up again.