july2010 stats
DESCRIPTION
Sarasota real estate market returns to pre-tax credit numbers As expected, property sales in the Sarasota real estate market in July 2010 slowed to pre-tax credit numbers following the expiration of the federal $8,000 homebuyer incentive. Property sales in July 2010 stood at 525 total sales, declining 47.8 percent from the June 2010 figure of 776 sales. The sales figure was much closer to the 506 sales in January 2010 and the 528 sales in February 2010, when the homebuyer credit wasn’t a factor in the market. In July, 374 single family homes were sold, compared to 576 single family homes sold in June 2010. The median price also trended lower at $155,000, compared to June’s figure of $175,000. The figure was more in line with the 12-month rolling median sale price of $162,000. Condo sales in July stood at 151, a drop from last month’s figure of 200. The median price of condos also fell in July to $127,000, which again primarily reflected distressed property sales. Non-distressed condo sales saw a median price of $227,500, while for distressed properties, the median sale price was $73,000 for bank-owned condos and $121,700 for condos involved in short sales. For the last 12 months combined, the median sale price for single family homes was $162,000.TRANSCRIPT
Sarasota MLSSM Statistics July 2010 Sarasota MLSSM Statistics July 2010
Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of Aug. 10th, 2010,including some listings in Manatee, Englewood, Venice, and other areas. Single-family statistics are tabulated using property styles of single-family and villa. Condo statistics include condo, co-op, and townhouse.
Source: Sarasota Association of Realtors®
0
100
200
300
400
500
600
700
Jul‐09 Aug‐09 Sep‐09 Oct‐09 Nov‐09 Dec‐09 Jan‐10 Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10 Jul‐10
Unit Sales Single FamilyCondo
Source: Sarasota Association of Realtors®
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
Jul‐09 Aug‐09 Sep‐09 Oct.09 Nov. 09 Dec‐09 Jan‐10 Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10 Jul‐10
Single FamilyCondoMedian Sale Price
Single Family
#Active #Sold %Sold Average DOM
Median Sale Prices
Median Last 12 Months
Months Inventory
Pending Reported
%Pending # New Listings
# Off Market
This Month 3,877 374 9.7 176 $155,000 $162,000 10.4 487 12.5 730 223
This Month Last Year
4,067 450 11.1 208 $185,000 $172,000 9.04 617 15.2 505 164
Last Month 3,819 576 15.9 173 $175,000 $165,000 6.6 575 15.9 790 264
YTD ‐ 3,544 ‐ 176 $162,500 ‐ ‐ 4,547 ‐ 6,082 ‐
Single Family – Sale Price Vs. List Price % Rates Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec
2009 93.0 93.1 92.5 92.4 93.2 93.8 93.2 93.6 94.2 94.4 94.1 94.2 2010 94.4 92.8 95.2 94.8 95.2 95.3 94.7 ‐ ‐ ‐ ‐ ‐
16 SEPTEMBER 2010 Sarasota Realtor® Magazine www.sarasotarealtors.com
Sarasota MLSSM Statistics July 2010 Sarasota MLSSM Statistics July 2010
Median sales price is the middle value, where half of the homes sold for more, and half sold for less. Listings sold were closed transac-tions during the month. Pending sales are sales where an offer has been accepted during the month, but the sale has not yet closed. Even though some pending sales never close, pending sales are an indicator of current buyer activity. DOM indicates the average number of days that sold properties were on the market before a contract was executed.
Sarasota Association of Realtors® MLS
0
1,000
2,000
3,000
4,000
5,000
Jul‐09 Aug‐09 Sep‐09 Oct‐09 Nov‐09 Dec‐09 Jan‐10 Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10 Jul‐10
InventorySingle FamilyCondo
Sarasota Association of Realtors® MLS
0
100
200
300
400
500
600
700
800
900
Jul‐09 Aug‐09 Sep‐09 Oct‐09 Nov‐09 Dec‐09 Jan‐10 Feb‐10 Mar‐10 Apr‐10 May‐10 Jun‐10 Jul‐10
Pending SalesSingle FamilyCondo
Condo
#Active #Sold %Sold Average DOM
Median Sale Prices
Median Last 12 Months
Months ofInventory
Pending Reported
%Pending # New Listings
# Off Market
This Month 2,177 151 6.9 203 $127,000 $175,000 14.4 166 7.6 261 189
This Month Last Year
2,447 145 5.9 225 $212,000 $212,010 16.9 185 7.6 245 233
Last Month 2,174 200 9.2 203 $145,000 $185,000 10.9 192 8.9 260 219
YTD ‐ 1,185 ‐ 204 $185,000 ‐ ‐ 1,763 ‐ 2,262 ‐
Condo – Sale Price Vs. List Price % Rates Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec
2009 91.0 90.2 90.4 92.2 90.1 91.4 92.1 92.4 91.5 92.4 92.3 93.1 2010 92.5 92.4 92.5 93.2 94.2 93.7 94.2 ‐ ‐ ‐ ‐ ‐
www.sarasotarealtors.com Sarasota Realtor® Magazine SEPTEMBER 2010 17