Sarasota, Florida (WiredPRNews.com) The Sarasota Real Estate market is surely picking up with the latest figures showing that this could probably be the best time to buy property with people flocking to Sarasota having realized this thick and fast. This could probably be the busiest season since the real estate bubble in 2005-2006 which was heralded as the peak. Latest trends in the Sarasota Real Estate market have shown an increase in the number of houses sold at substantially lower prices than 2005-2006.
With the traditional season for the real estate coming to an end in May and not picking before the following January, the trends for the fourth quarter of 2009 has put all in a tizzy. The figures show that the overall sales have doubled in the period as compared to the same period a year earlier and the trend doesn’t seem to be settling down. In fact these point out to a recovery period that the local market seems to be going through. The median sale price of condominiums and single family homes that had dropped extensively in 2008 has now stabilized and in fact has jumped by nearly 6% from October’s level. Although the median prices for condominiums continue to go up and down, yet it is still near the median sale price of the past 11 months of 2009.
The biggest factor in the lower sale prices, overall, still can be attributed to the sale of bank owned property sales and the short sales of the single family homes which account to almost one half of the sales in November. This is exclusive of the one third of the condo sales for the same period. Thus the statistical trends are an indicator that despite the economic downturn and slow national economic activity, the Sarasota Real Estate market is showing signs of recovery.
“The Sarasota Real Estate market presents a real opportunity for those seeking bargains. Many of the properties are drastically reduced from their highs in 2005. In fact, you can now get properties that are up to 75% off their highs from just a couple of years ago. We sold a condo in October 2009 for $246,000 and that same condo sold in 2007 for $882,000. These are the kind of deals that can be found out there right now with the help of a knowledgeable real estate agent.” said Jose Lopez a Broker’s Associate for Remax Alliance and owner of SellSarasota.
The latest figures for December 2009 for Sarasota show the improving trend of the real estate market as the sales in this period have been reported to be the highest in nearly three years. Compared to November 2008 the sale of single family homes and condos has increased by nearly 12% and compared to December 2008 the figures show an upward increase by nearly 52%. As for the total figure for sales, it stands at 6,699 for the year 2009 which is 23% higher than 2008 when the sales were touching the 5,459 mark. Thus with a big finish in December 2009, the Sarasota real estate market is bucking the trend and the Sarasota homeowners can look forward to bright sunny days ahead.
SellSarasota – lets you search all properties for sale in the Sarasota & Bradenton Florida area, including foreclosures, short sales, condos and luxury waterfront property.
Broker’s Associate Remax Alliance
2000 Webber St
Sarasota, FL 34239
Voice: (941) 350-4433