Against all of the negative national home sales hoopla, Sarasota saw 648 total property salesclosed in December of 2009. This number represents the most closed transaction in Sarasota County since March 2007! For those buyers who are still pondering whether Sarasota's market has come back, you need only to look at the increased sales and diminishing inventory. Overall for all of 2009, sales were up 22.7% from 2008. Of all of those sales over 40% were distressed property sales, up from 21.2% in 2008.
This is a great sign for our local real estate market! Sarasota is one of the most sought after places to live in Florida and the numbers reflect that desire. Here are some more statistics that buyers and sellers should be acutely aware of: The month's supply inventory was down to 8.1 months in December for single family homes and 12.3 months for condos. Once these number reach 6 months, the market has equalized between buyers and sellers. Compare this to last December and you would find single family home inventory at 19.1% and condos at 31.8%. This is a dramatic drop in inventory, so for those who are out there sitting on the fence, truly...the time to buy is now.