In Sarasota Area Pending Sales Are up in January 2012 with moderate price gains
The Sarasota Association of Realtors® has reported a 38% jump in pending sales for January 2012 as compared to December 2011. My partner and I are showing property to a much larger number of buyers than last year at this time and most of them are ready to do something now or very soon. Last year was what I termed “the year of the looker” but now they are back and anxious to find a property. We have had multiple offers on our last two sold listings and have had several of our buyers have to offer their highest and best when submitting offers.
"The median sales price rise from last year is very striking, and probably has a lot to do with the lower inventory of available properties and the improved national economic picture," explained Board President, Benson. "Our primary feeder markets in the northeast are starting to see improved buyer incomes and purchasing power. This also drives local sales, and competition can trigger price appreciation."
Our Inventory has dropped from 6,047 last year at this time to our current 4,711 and this drop of 22% means fewer choices for home buyers. This bodes well for our market and its slow but steady recovery.