Real Estate Outlook – Sarasota & Manatee Counties May 2012
Declining inventories and increased pending activity continue but at a somewhat accelerated pace. Listings dropped 7.4% in Sarasota County and 5.3% in Manatee County in May, with a year over year decline of 23.2% and 19% respectively. Pending sales increased 38.8% in Sarasota County and 50.8% in Manatee County when compared to last year. This would suggest that our traditionally slower "season" will not show a significant drop-off in activity.
Most encouraging is the strong increase in the median price -- double digit in some markets on both a monthly comparison and an annual comparison. The median sold price increased 11.9% in Sarasota County and 1.4% in Manatee County in May, with a year over year increase of 16.2% and 3.6% respectively. The strongest markets year over year were Anna Maria Island (11.5% increase), Lakewood Ranch (25.5% increase) and Siesta Key (45.1% increase).
This is reflective of both the reduced listing inventory and the increased sales activity.
| Residential
(Single Family & Condo) |
May 2012 |
Change
vs. Prior Month (April) |
May 2011 |
Change vs. 2011 |
| Available Inventory |
5,972 |
-7.4% |
7,775 |
-23.2% |
| Sold |
1,046 |
-4.2% |
984 |
+6.8% |
| Pending |
1,148 |
+0.5% |
827 |
+38.8% |
| Sold Average Days on
Market |
170 |
-2.3% |
183 |
-7.1% |
| Median Sold Price |
$162,745 |
+11.9% |
$140,000 |
+16.2% |
| Months Supply of
Inventory |
3.8 |
-12.6% |
7.7 |
-51.3% |
| Residential
(Single Family & Condo) |
May 2012 |
Change
vs. Prior Month (April) |
May 2011 |
Change vs. 2011 |
| Available Inventory |
4,251 |
-5.3% |
5,249 |
-19.0% |
| Sold |
708 |
+8.1% |
647 |
+9.4% |
| Pending |
793 |
+7.7% |
526 |
+50.8% |
| Sold Average Days on
Market |
174 |
-1.1% |
208 |
-16.3% |
| Median Sold Price |
$145,000 |
+1.4% |
$140,000 |
+3.6% |
| Months Supply of
Inventory |
4.0 |
-15.3% |
8.3 |
-51.9% |
| Residential
(Single Family & Condo) |
May 2012 |
Change
vs. Prior Month (April) |
May 2011 |
Change vs. 2011 |
| Available Inventory |
365 |
-8.3% |
453 |
-19.4% |
| Sold |
48 |
+37.1% |
35 |
+37.1% |
| Pending |
42 |
-12.5% |
22 |
+90.9% |
| Sold Average Days on
Market |
293 |
+21.1% |
269 |
+8.9% |
| Median Sold Price |
$418,000 |
+11.5% |
$375,000 |
+11.5% |
| Months Supply of
Inventory |
6.9 |
-0.8% |
18.1 |
-62.0% |
| Residential
(Single Family & Condo) |
May 2012 |
Change
vs. Prior Month (April) |
May 2011 |
Change vs. 2011 |
| Available Inventory |
2,130 |
-5.9% |
2,806 |
-24.1% |
| Sold |
384 |
+11.0% |
348 |
+10.3% |
| Pending |
434 |
+10.2% |
320 |
+35.6% |
| Sold Average Days on
Market |
164 |
-8.4% |
192 |
-14.6% |
| Median Sold Price |
$110,000 |
+5.4% |
$104,375 |
+5.4% |
| Months Supply of
Inventory |
3.5 |
19.3% |
7.1 |
-50.9% |
| Residential
(Single Family & Condo) |
May 2012 |
Change
vs. Prior Month (April) |
May 2011 |
Change vs. 2011 |
| Available Inventory |
339 |
-3.7% |
397 |
-14.6% |
| Sold |
53 |
-32.1% |
60 |
-11.7% |
| Pending |
74 |
+21.3% |
47 |
+57.4% |
| Sold Average Days on
Market |
184 |
+13.6% |
222 |
-17.1% |
| Median Sold Price |
$320,000 |
+1.4% |
$255,000 |
+25.5% |
| Months Supply of
Inventory |
3.2 |
-26.5% |
6.8 |
-52.4% |
| Residential
(Single Family & Condo) |
May 2012 |
Change
vs. Prior Month (April) |
May 2011 |
Change vs. 2011 |
| Available Inventory |
4,189 |
-7.3% |
3,245 |
-23.2% |
| Sold |
532 |
-6.7% |
565 |
+11.3% |
| Pending |
672 |
+4.7% |
443 |
+32.6% |
| Sold Average Days on
Market |
170 |
+0.6% |
190 |
-5.1% |
| Median Sold Price |
$140,500 |
+6.3% |
$157,500 |
-1.0% |
| Months Supply of
Inventory |
3.4 |
-16.8% |
7.7 |
-55.8% |
Longboat Key - (Zip Code 34228. Does not include St. Armand’s Circle or Bird Key)
| Residential
(Single Family & Condo) |
May 2012 |
Change
vs. Prior Month (April) |
May 2011 |
Change vs. 2011 |
| Available Inventory |
575 |
-4.0% |
682 |
-15.7% |
| Sold |
67 |
+4.7% |
60 |
+11.7% |
| Pending |
49 |
-9.3% |
42 |
+16.7% |
| Sold Average Days on
Market |
188 |
-17.9% |
306 |
-38.6% |
| Median Sold Price |
$470,000 |
-13.0% |
$500,000 |
-6.0% |
| Months Supply of
Inventory |
9.9 |
+3.4% |
14.0 |
-29.5% |
| Residential
(Single Family & Condo) |
May 2012 |
Change
vs. Prior Month (April) |
May 2011 |
Change vs. 2011 |
| Available Inventory |
482 |
-8.2% |
671 |
-28.2% |
| Sold |
61 |
-3.2% |
43 |
+41.9% |
| Pending |
51 |
-25.0% |
38 |
+34.2% |
| Sold Average Days on
Market |
297 |
+53.9% |
259 |
+14.7% |
| Median Sold Price |
$515,000 |
+10.8% |
$355,000 |
+45.1% |
| Months Supply of
Inventory |
7.7 |
22.2% |
15.6 |
-50.2% |
| Residential
(Single Family & Condo) |
May 2012 |
Change
vs. Prior Month (April) |
May 2011 |
Change vs. 2011 |
| Available Inventory |
1,128 |
-9.7% |
1,475 |
-23.3% |
| Sold |
240 |
-1.6% |
186 |
+29.0% |
| Pending |
207 |
-10.4% |
172 |
+20.3% |
| Sold Average Days on
Market |
151 |
-12.2% |
180 |
-16.1% |
| Median Sold Price |
$170,000 |
+13.3% |
$154,950 |
+9.7% |
| Months Supply of
Inventory |
4.1 |
+0.1% |
6.9 |
-41.2% |
ENGLEWOOD -
| Residential
(Single Family & Condo) |
May 2012 |
Change
vs. Prior Month (April) |
May 2011 |
Change vs. 2011 |
| Available Inventory |
814 |
-4.1% |
1,041 |
-21.8% |
| Sold |
112 |
-5.1% |
81 |
+38.3% |
| Pending |
108 |
-12.5% |
69 |
+56.5% |
| Sold Average Days on
Market |
220 |
-19.6% |
243 |
-9.5% |
| Median Sold Price |
$140,000 |
+25.2% |
$132,000 |
+6.1% |
| Months Supply of
Inventory |
5.9 |
-19.5% |
13.0 |
-54.7% |
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MLS: MFRMLS Price: All Construction Type: All Bedrooms: All Baths: All Lot Size: All Sq Ft: All
Property Types: Residential (Half Duplex, Duplex, Co-Op, Condominium, Home w/Rental Unit, Income, Manufactured/Mobile
Home, Modular, Planned Unit Development, Ranch, Single Family Home, Townhouse, Villa, Two-Story Residential)
This report is developed monthly and is based on information from
The MFRMLS Multiple Listing Service for the period stated above.
For more information about any of the figures seen in this report or to inquire about additional statistics,
please contact Peter Crowley, 941-316-6569 or email pcrowley@alliancegroupfl.com