SALES UP IN SARASOTA COUNTY

By
Real Estate Agent with Exit Realty Gulf Coast

IT'S ANOTHER BEAUTIFUL DAY HERE IN SUNNY FLORIDA

HIGH TEMPERATURE OF 78 DEGREES

TIME TO LEAVE THE COLD

More good news for Venice, Florida. The Sarasota Association of Realtors just released their marketing report for November. It shows signs that the market is beginning to stabilize and become a more normal market. This is encouraging news for both buyers and sellers.

From last November the number of homes on the market is significantly less. Last November there were 6,747 homes on the market for sale. This November it is reported that there were 3,906 homes available on the market.  While this is good news the better news is the absorption rate. This November there were 417 sales verses a year ago when only 244 homes sold in November.

Over all the absorption rate here in Sarasota County was 10.7%. November saw an absorption rate of 3.6%. This is down a considerable amount. Currently the market has 9.4 months of inventory. This a huge improvement verses the 27.6 month supply of inventory in November of 2008. This is showing that we are pushing through the inventory.

All of this is good news however, home prices still continue to fall as banks unload foreclosures and short sales. The median home price was $162,500 in November. This was down from November of 2008 when the median home price was $170,000.

With all this good news it is a great time to inform buyers that now is a great time to buy.

Three major factors are helping home buyers:

1. Interst rates are lower than they have been in a long time some below 5%.

2. Home prices are where they were almost 10 years ago.

3. The government is giving them money to go purchase a home.

Never is history has the government given buyers money to purchase a home. This opportunity will only last for 4 more months. Lets spread the word to buyers and let them know that all these factors are working towards them.

Let's make 2010 a GREAT year for real estate!

STEVE FORBES

EXIT REALTY GULF COAST

1000 TAMIAMI TRAIL

VENICE, FL

34285

1-800487-2414

steveforbes456@aol.com

www.steveforbessellsflorida.com

 

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