Saturday, December 10, 2011

SARASOTA REAL ESTATE MARKET CONTINUES TO IMPROVE

The Sarasota real estate market has been steadily improving since the beginning of this year.  Our St. Armands Circle office is proud to have reached our goals consistently month after month, putting us in the "black" as an office for the first time in several years and moving us to the top in rankings of Coldwell Banker Offices.  As we close out 2011 and look ahead to 2012, we are once again optimistic about our market and look forward to a prosperous new year.

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The following are exerpts from the latest "Monthly Report" by the Sarasota Association of Realtors.  CLICK HERE  for the entire article including graphs and charts.

The months of inventory rose slightly to 7.1 months from 6.7 months for single family homes,
and dropped considerably for condos, to 9.7 months from September’s 11.1 months. Both figures
are close to a market in equilibrium between buyers and sellers, and again remained far below
the highs of 25.3 months for single family (in early 2009) and 41.7 months for condos (in late
2008). This statistic represents the time it would take to sell the existing inventory at the current
month’s rate of sales.

“There is no doubt that agents are reporting a very active marketplace, with many showings,
good foot traffic and high interest in Sarasota properties,” said SAR President Michael Bruno.
“The start of the season has been busy and productive, and we hope this trend continues in the
coming months.”

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