Browse: Home / / Real Estate Report for 2009

Real Estate Report for 2009

By Michael Moulton on January 19, 2010

Now that 2009 is behind us and we are on to 2010 I want to summarize what transpired in the Sarasota County real estate market the past year. There were a total of 8,084 properties sold the past year with 5,640 being single family homes and 2,444 being a condominium. The following table summarizes what happened in each price segment. All statistics are as of the end of 2009.

Houses Sold Pending Listed
$250,000 & under 4181 1247 1759
$250,000 to $500,000 1002 277 1108
$500,000 to $750,000 239 58 363
$750,000 to $1,000,000 89 34 34
$1,000,000 to $2,000,000 94 32 330
$2,000,000 & above 35 10 232
Totals 5640 1658 3995
Condominiums Sold Pending Listed
$250,000 & under 1702 450 1431
$250,000 to $500,000 456 107 674
$500,000 to $750,000 142 28 306
$750,000 to $1,000,000 63 9 166
$1,000,000 to $2,000,000 62 10 162
$2,000,000 & above 19 5 80
Totals 2444 609 2819
Grand Totals 8084 2267 6814

70% of 2009’s sales were single family homes and 30% were condominiums. Of the total sales, 73% were properties that sold for $250,000 or less, 18% were sold for between $250,000 and $500,000, 6% sold for between $500,000 and $1,000,000 and 3% sold for over $1,000,000.

As the statistics relate to listed properties at year end we have 10.1 months of inventory overall. There is only 8 months of inventory for properties listed under $500,000, in the price bracket of $500,000 to $1,000,000 there is 23.4 months of inventory and over $1,000,000 there is 46 months of inventory. In general six months of inventory is considered a neutral market meaning neither a buyers or sellers market.

Obviously the first time home buyer tax incentives coupled with low interest rates has had a wonderful effect in lowering inventory for homes listed under $500,000. Here’s to hoping that buyers begin to realize home prices have bottomed out and we start to reduce the inventory of luxury homes. 2010 here we come.

Posted in

Comments are closed.

« »

#1 Residential Sales Team

Michael Saunders & Company

At Your Service

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.
Thanks for the beautiful cooler and champagne. It is greatly appreciated - but what is most appreciated is your kind, attentive and professional approach to helping us the find the perfect condo - we are so happy with our new apartment. Again, many thanks, Lois & Stewart

I want to thank you for assisting me in the sale of my apartment. You and your team did a fine job, especially with the servicing of my apartment in my absence. Your staff was very helpful whenever I needed them. Sincerely, and with great affection, Shirley B.
Our move to Sarasota has turned into a blessing in our life. We have you to thank for this occurance. The overwhelming effect on our lives from the people to whom you have introduced us continues to grow and enrich our lives. Through the new contacts we are looking forward to more opportunities to work with and help children than we ever thought possible. We look at this as a gift from our friend, not someone who just helped us buy a home. Most sincerely, John and Robin
Now that we are pretty settled in our new home in Sarasota, I wanted to formally thank you for helping us find this fabulous place. You were a pleasure to work with and gave us a great education on the real estate market in this area. Under your guidance, we found the right home, at the right price, and in the right area for our family situation. By your being patient, we were able to see and study all the alternative neighborhoods and lifestyle situations. We knew it wouldn't be easy coming from Connecticut and finding the right place here, but with your help, we absolutely did. Thanks again, and please give potential clients our name as a reference for you and your company. Most sincerely, Richard B.