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It's Too Darn Hot! Sarasota Real Estate Update For September 2012

It's Too Darn Hot!  Sarasota Real Estate Update For September 2012.  The Sarasota real estate market made a strong showing in September, yet sales did decline 21% from August.  However,  they were 14% ahead of last September's indicating a continued solid and healthy market.
There were a total of 648 properties sold in September in the Sarasota real estate market.  Of those sales there were 430 single family homes and 148 condos sold.  After a very strong summer selling season the slowdown in September was expected and is typical for the time of year.  However, it is much better than anyone would have thought just a few short months ago.
"Our inventory is now down to 3,460 - the lowest level since 1998," reported SAR President Laura Benson.  "The downward trend in inventory started four years ago, when we had over 9,500 properties for sale.  We have a great demand for homes and potential sellers should know it's a great time to list their properties."
Pending sales decreased to 844 in September, but are 16% higher than last September's.  Pending sales represent properties under contract that are expected to close in the coming months and are a good indicator of upcoming activity ... more

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