Below are the stats for properties that SOLD and closed in May for Manatee County:

May 2006
# of single family homes SOLD = 277
# of condos SOLD = 100
Avg SOLD price for SFR = $376,053
Avg SOLD price for condos = $276,537

May 2007
# of single family homes SOLD = 225
# of condos SOLD = 78
Avg SOLD price for SFR = $368,689
Avg SOLD price for condos = $244,976

Less transactions have occurred this year, but not much difference in prices from this year and last year. 

Less than a 2% price drop in single family homes this year from last year, and roughly 11% price drop in condos this year from last year.

My guess is the number of sales that dropped has an awful lot to do with the Sub-prime Market loss.

Inventory is still slowly decreasing.

On May 29th there were 4,501 single family homes Active for sale and 2,124 condos Active for sale.

Today there are 4,385 single family homes Active for sale and 2,104 condos Active for sale.

That's 116 less single family homes on the market and 20 less condos on the market just in the last 2 weeks.  136 less properties you have to choose from! 

Prices aren't changing very much, inventory is decreasing and interest rates are rising.  What does that mean to you?  It means you need to get out there and start looking and find your home and get your rate locked in before they climb any more.  The longer you continue to wait, the less you will have to choose from and the higher the interest rate you are going to end up paying!

Visit my website to start your search today!

*The above information is Copyright © 2007 Becky Troutt and may not be copied, reproduced, distributed, transmitted, displayed or published.  All rights reserved.  Plagiarism will be detected and is punishable by law.