Homes are selling in Sarasota and the inventory is declining. Recent statistics released from the Sarasota Association of Realtors for August 2009 show that markets do what markets are good at. They adjust, and the Sarasota market has adjusted and is on the mend. Let me share with you the information from the Sarasota Association of Realtors that was just recently released. Total sales for the month of August 2008 was 415, Sales for the month of August 2009 was 496. Total Inventories for single family homes and condos for the month of August 2008 was 6,461, August 2009 was 3,949 This is a drastic reduction in inventory available.

The number of months of inventory which is the theoretical time that it would take to sell all of the current inventory at the current rate of sale is now 10.34 months as compared to a year ago when it was 19.64 months.

So what has happened to turn this around in Sarasota? Realtors at Michael Saunders & Company have educated their sellers about the realities of the market place. And the sellers have responded. No need for a government bail out here. When a market slows – prices adjust – when prices adjust buyers buy. Have prices adjusted in our market? Yep! And that is why homes are selling. According to the most recent statistics the median home price for the past 12 months is $165,000 as compared to $235,000 for the previous 12 months ending in September 2008. I recently wrote about this spacious Villa at 8057 Via Fiore in Prestancia that was for sale. The villa started out on the market at $439,000 was reduced to $375,000 and sold in September for $360,000. A great price for a great home in paradise! These are the numbers for the general Sarasota Area. In areas such as Palmer Ranch the months of inventory is better at just 6.6 months. As always I encourage you, that if you have been thinking of buying a home in paradise now may be a great time to visit that decision. If you would like to view properties for sale in the Palmer Ranch area like this villa that was recently sold go to Palmer Ranch Homes For Sale and enjoy looking at your next home. If you would prefer something on the beach or one of our Keys please click onto the Waterfront Homes area.

Either way I can promise you that Sarasota has a home for you. But just don’t wait. If you would like more information on these or any other homes that are available please contact me at 941-586-4790 or email me at saraleicht@michaelsaunders.com.

Come join us in paradise, where the sun spends the winter, on the beaches and golf courses of Sarasota.

Posted by:Sara Leicht