Today, we filmed the video below at the site of one of my listings. Next week the scene there will be very different, as a crew from Courtney Cox’s ABC television show, Cougar Town, will be there on location filming!
Fall in Sarasota, Rise in the Property Market
It’s October in Sarasota and that means cooler breezes and open windows. It also means it’s time to look back and see what’s happened during the third quarter 2011. There are two very apparent trends: first, properties are coming on the market, and going to contract, very very quickly.
This is because there are a lot of buyers in the market, and they’ve been here for a while. They’re doing a lot of research and due diligence, and when a good match comes to market they’re moving forward fast. A few weeks ago I represented a buyer in a transaction, and within 48 hours, there were multiple offers on the property. All of them were over the listing price.
Sarasota Real Estate Market: Good News All Round
The second noticeable trend is that properties which have been marinating on the market for quite some time are also going to contract even closing. For most, the selling price is actually very close to the asking price, which would be a contraindication for the time it spent on the market
The three big statistics I have for this quarter are:
• Sales are up 13% compared to the same period in 2010.
• Distressed sales have actually gone down 4 quarters in a row, they now make up 37% of the market.
• Inventory of luxury homes edged up slightly to 21 months, this is down significantly on the past several years, but actually up slightly on the previous quarter.
Overall, as I’ve said previously, there are a lot of buyers on the market. They’re active, they’re searching out areas, so when they right match comes on the market they’re moving forward very, very, quickly. I for one am delighted to see so many people getting the result they want.
Related posts:
- Bullish or Bearish? Q1 2011 and Where to find the Hot Niche in the Sarasota Real Estate Market The books are in on Q1 2011, and what a...
- 2011 in Review, Five Star Real Estate Agent Award, and What the Market’s got in Store for 2012 “Learn from yesterday, live for today, hope for tomorrow.” –...
- Q2 2011 – A Market On the Move, What Does That Mean for You? This month I want to review the changes in the...
- How the Sarasota Real Estate Market Can be a Fishy Business… Six years ago, Sarasota had the distinction of being called...
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