Condo sales are UP 10% from this time last year in Bradenton-Sarasota

Industry Observer with No longer practicing real estate as of 2008.

I was reading the newspaper online this morning, and was happy to see that condo sales have increased 10% from this time last year in the Bradenton-Sarasota market.

It is mentioned in the above article about 3/4 of the way through the article.  Condominium results in Sarasota-Bradenton for both the third quarter and for October are signs of improvement.

Last month, condo sales were up 10 percent, from 193 to 212. The median price was down slightly, from $226,000 to $224,000.

"That's very good news for us, suggestive of a bottoming out in that segment of our market."

From what I remember, we were one of the first markets to take a hit when the market turned, so it would only seem natural that our market would be one of the first to turn back around.

Builders are starting to see a change as well and seeing an increase in sales and traffic this year over last.

Neal Communities said it sold its 100th home this year, outstripping the 88 sold in 2006.

"The amazing thing is that we are seeing about a 50 percent increase in traffic, which is a great improvement from last year at this time," he said, noting attention from foreign customers. "There are a lot of buyers out there feeling out the market in Sarasota and Manatee."

They are cautious, though, and definitely looking for bargains. "But they are not fence-sitters, they are buyers."

Can't wait to see what happens during "the season" this year!  I am hopeful that the snowbirds will see how many great deals there really are out there right now and help jump start things once again!

Now is the time to buy!!

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