The Bradenton Herald reported last week that first quarter sales of existing single-family homes and condos in Manatee/Sarasota market were HIGHER than last year!
Some stats:
- Statewide, home resales rose by 24%
- Statewide, condo sales soared up 67%, while the median price dropped from $110,00 to $95,800
- Locally, Condo sales up 71% from 516 sales in 2009 first quarter to 883 in 2010. Median sales prices grew 6%, up to $142,100
- Local Median Sales Price - the point where half sold for more and half for less was $159,000 this past quarter, up 8% from $146,500 a year ago
- There were 2,464 local home resales in the January-March quarter, a 34% increase from the 1,842 recorded in the first quarter of 2009
The figures indicate a housing market that is "continuing down the long road to recovery." said Sean Snaith, director of the University of Central Florida's Institute for Economic Competitiveness.
"Median prices in most areas of the state continue to fall, however, the rate at which they are falling has diminished significantly, and this is indicative of a bottom approaching," he said in a statement. "How long prices stay at the bottom and when price appreciation will reappear will depend in a large part on the improving fundamentals in the economy and credit markets."
Now that's NEWS we like to hear! For more information on the local market trends and statistics in Lakewood Ranch, Bradenton & Sarasota, Click Here.
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