Sarasota Statistics

	John Woodward.com
	John Woodward.com
	John Sells the Nicest Places in Sarasota (941) 922-8400 Toll Free (888) 682-3600
	Sarasota Real Estate Group, 2187 Siesta Drive, Suite 200, Sarasota, FL 34239

Home News Stats My Home's Value Sarasota Links
HOMES FOR SALE Payment Calculator About

John maintains statistics of the broad Sarasota Market. The following charts cover from North of University Parkway south to Osprey/Nokomis and are for single family homes only.

The news reports the market (many times) based on the last quarter or a couple of months ago. These charts are John's market area and are current NOW. The news you read in the coming months is already here BEFORE the rest of the market finds out. John's clients can have the opportunity to know exactly what is going on before it is picked up by the major media. It's like getting tomorrow's news TODAY! The charts below are updated twice monthly.

Foreclosures

Periodic Snapshot of Homes now Available for Sale

Monthly total of Homes that have closed or under contract.

Monthly Total of Price Reductions

Snapshot Pie of Actives to Contracted homes

Off Market Relational Chart

Advanced line chart of ALL flows monthly

*SAR Stats (Most Recent)

* Information not compiled by John

NOW is really a great time to buy!

Sarasota, FL

Sale numbers were up in June and July to record levels for the year! August, however is showing a drastic decline in sale numbers to almost the slowest month of the year. Price reductions were slowed as well. Much of this can be attributed to the obvious news of lenders facing hard times due to an increase in the number of foreclosures. Those losses are coming out of the lender's pocket which caused the availability of money to tighten. The FED's move to drop rates 1/2 of a percent have helped but the sting of a rising foreclosure rate is making it harder for people to get loans. Forget 100% here. The lenders know prices are going down.

New this month is a simple count of foreclosure filings at the clerk of the court for Sarasota County. A record 371 foreclosure filings were made by lien holders. Expect to see many of these homes on the market in the coming months. The great concern I have is with only 220 contracts this month, the number of foreclosures exceed the number of contracts. The area I track is a subset of the county and the foreclosure numbers are county wide so it probably isn't a great comparison. But the impact of these homes cannot be ignored in the coming months.

The percentage of active homes to under contract homes shrunk from 8-9% in July down to about 6%.

The "good" news is inventory continues to fall albeit at a slow pace. I suspect some folks are just giving up to fight another day. I expect some of these homes will be back once the market starts to stabilize.

The market continues to be tough. Competition is quite stiff. If you need to sell, it can be done. Homes need to sparkle and be at the bottom of the price list if there is any chance of selling.

LOOKING TO BUY???
Interest rates have leveled or even begun to rise slightly. Waiting for additional price reductions COULD be canceled out by rate increases.
An interest increase from 6% to 6.6% is not a half a point, it's a 10% increase in your cost! Waiting for a bottom might actually COST you money just because of a rate hike!

Call us today!

SEE PREVIOUS MARKET COMMENTS FROM JOHN