Home and condominium sales in the Sarasota - Bradenton Florida real estate market, which includes Lakewood Ranch, Siesta Key, Longboat Key and Lido Key, reached 753 in March 2010, according to the Sarasota Association of realtors. This is the highest total since December 2005 and over 56% above March of 2009. AS of March 31st, there were an astounding 1,060 pending sales, the highest total in the past 4 years. And, perhaps the most positive metric for the month was that the median sale price for both single family homes and condos rose again in March from the previous month and were also much higher than in March 2009.
Perhaps the best Sarasota real estate news is that the level of distressed property sales dropped in March 2010 to 41% of overall sales, compared to 47% in February 2010-- another very encouraging sign.
Homes in price ranges that are most attractive to first-time buyers have actually entered a "seller's market", probably reflectiing the effect of the $8,000 first-time home buyer tax credit.
In summary, March, 2010 was a spectacularly good month for Sarasota Florida area home sales and most likely a clear indication that the worst is over both in terms of price depreciation and the length of time required to sell a home.
For prospective sellers, the Sarasota real estate news could hardly be better. For prospective buyers, however, this is a clear signal that if they want a home or condominium on the Sarasota - Bradenton SunCoast, time is working against them. They need to contact a Realtor, find the home of their dreams, and get a deal done before prices start climbing beyond their reach again.
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1 comments:
March was indeed a banner month for us. And, as your Sarasota real estate consultant, I'll work hard to find you the perfect home or condo in the neighborhood and the price range you are comfortable with.
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