Real Estate Outlook – Sarasota & Manatee Counties October 2012
Trends continue to show a real estate market in recovery, as declining inventories combine with a steady increase in demand to drive up home prices. The typical slowdown before an election did not occur this year, with pending sales continuing to rise in almost every area of our market.
Pending sales were up 33.4% in Sarasota County and 6.4% in Manatee County from September to October, with year over year increases of 41.4% and 60.5% respectively. The median sold price rose 31.1% in Sarasota County and 16.8% in Manatee County compared to the same time last year. Months supply of inventory continued to decline, dropping 52.4% in Sarasota County and 55.1% in Manatee County year over year.
These figures, along with reports from our Realtors who are suddenly slammed with business, indicates that our "typical"season, driven by snowbirds and other tourists, is kicking into gear even earlier than last year.
| Residential(Single Family &Condo) | October 2012 | Changevs. Prior Month (September) | October 2011 | Change vs. 2011 |
|---|
| Available Inventory | 5,274 | +1.9% | 6,909 | -23.7% |
| Sold | 807 | +16.8% | 710 | +12.8% |
| Pending | 1,058 | +33.4% | 748 | +41.4% |
| Sold Average Days onMarket | 158 | -4.8% | 195 | -19.0% |
| Median Sold Price | $159,000 | +4.9% | $122,000 | +31.1% |
| Months Supply ofInventory | 3.7 | -28.4% | 7.7 | -52.4% |
| Residential(Single Family &Condo) | October 2012 | Changevs. Prior Month (September) | October 2011 | Change vs. 2011 |
|---|
| Available Inventory | 3,994 | -2.3% | 4,790 | -16.6% |
| Sold | 570 | +3.3% | 423 | +34.8% |
| Pending | 748 | +6.4% | 466 | +60.5% |
| Sold Average Days onMarket | 153 | -8.4% | 205 | -25.4% |
| Median Sold Price | $160,000 | +1.6% | $137,000 | +16.8% |
| Months Supply ofInventory | 4.0 | -11.2% | 8.8 | -55.1% |
| Residential(Single Family &Condo) | October 2012 | Changevs. Prior Month (September) | October 2011 | Change vs. 2011 |
|---|
| Available Inventory | 303 | -2.9% | 419 | -27.7% |
| Sold | 29 | +7.4% | 17 | +70.6% |
| Pending | 27 | -15.6% | 15 | +80.0% |
| Sold Average Days onMarket | 304 | +60.8% | 301 | +1.0% |
| Median Sold Price | $527,500 | +42.6% | $440,000 | +19.9% |
| Months Supply ofInventory | 9.6 | +17.6% | 25.5 | -62.7% |
| Residential(Single Family &Condo) | October 2012 | Changevs. Prior Month (September) | October 2011 | Change vs. 2011 |
|---|
| Available Inventory | 1,978 | -1.7% | 2,458 | -20.8% |
| Sold | 305 | +7.8% | 253 | +20.6% |
| Pending | 400 | +14.3% | 253 | +58.1% |
| Sold Average Days onMarket | 145 | -7.6% | 203 | -28.6% |
| Median Sold Price | $127,000 | +12.9% | $97,500 | +30.3% |
| Months Supply ofInventory | 3.6 | -17.1% | 8.5 | -57.3% |
| Residential(Single Family &Condo) | October 2012 | Changevs. Prior Month (September) | October 2011 | Change vs. 2011 |
|---|
| Available Inventory | 328 | +0.9% | 373 | -12.1% |
| Sold | 52 | -13.3% | 39 | +33.3% |
| Pending | 76 | -2.6% | 47 | +61.7% |
| Sold Average Days onMarket | 119 | -40.2% | 239 | -50.2% |
| Median Sold Price | $337,000 | -0.6% | $259,000 | +30.1% |
| Months Supply ofInventory | 3.1 | +6.7% | 6.5 | -52.7% |
| Residential(Single Family &Condo) | October 2012 | Changevs. Prior Month (September) | October 2011 | Change vs. 2011 |
|---|
| Available Inventory | 2,731 | -1.6% | 3,702 | -26.6% |
| Sold | 502 | -18.1% | 410 | +22.4% |
| Pending | 604 | +21.0% | 420 | +43.8% |
| Sold Average Days onMarket | 153 | -0.6% | 182 | -15.9% |
| Median Sold Price | $170,000 | +3.0% | $134,000 | +26.9% |
| Months Supply ofInventory | 3.2 | -23.6% | 7.3 | -56.5% |
Longboat Key - (Zip Code 34228. Does not include St. Armand’s Circle or Bird Key)
| Residential(Single Family &Condo) | October 2012 | Changevs. Prior Month (September) | October 2011 | Change vs. 2011 |
|---|
| Available Inventory | 484 | +4.1% | 588 | -17.7% |
| Sold | 29 | +16.0% | 25 | +16.0% |
| Pending | 36 | +44.0% | 22 | +63.6% |
| Sold Average Days onMarket | 197 | -37.9% | 259 | -23.9% |
| Median Sold Price | $430,000 | -8.5% | $428,000 | +0.5% |
| Months Supply ofInventory | 11.8 | -28.7% | 24.3 | -51.6% |
| Residential(Single Family &Condo) | October 2012 | Changevs. Prior Month (September) | October 2011 | Change vs. 2011 |
|---|
| Available Inventory | 413 | +0.5% | 551 | -25.0% |
| Sold | 50 | +42.9% | 35 | +42.9% |
| Pending | 64 | +68.4% | 36 | +77.8% |
| Sold Average Days onMarket | 219 | +4.8% | 268 | -18.3% |
| Median Sold Price | $360,000 | -6.5% | $345,000 | +4.3% |
| Months Supply ofInventory | 4.9 | -47.6% | 13.4 | -63.0% |
| Residential(Single Family &Condo) | October 2012 | Changevs. Prior Month (September) | October 2011 | Change vs. 2011 |
|---|
| Available Inventory | 1,043 | -3.5% | 1,332 | -21.7% |
| Sold | 138 | +7.8% | 106 | +30.2% |
| Pending | 192 | +33.3% | 146 | +31.5% |
| Sold Average Days onMarket | 178 | -6.8% | 183 | -2.7% |
| Median Sold Price | $161,500 | +2.9% | $126,500 | +27.7% |
| Months Supply ofInventory | 4.1 | -25.4% | 7.5 | -45.1% |
ENGLEWOOD -
| Residential(Single Family &Condo) | October 2012 | Changevs. Prior Month (September) | October 2011 | Change vs. 2011 |
|---|
| Available Inventory | 745 | +3.3% | 912 | -18.3% |
| Sold | 65 | -9.7% | 76 | -14.5% |
| Pending | 85 | +23.2% | 73 | +16.4% |
| Sold Average Days onMarket | 158 | -19.4% | 214 | -26.2% |
| Median Sold Price | $120,000 | -14.4% | $91,000 | +31.9% |
| Months Supply ofInventory | 7.5 | -16.2% | 11.0 | -32.1% |
For a printable version of this report
click hereMLS: MFRMLS Price: All Construction Type: All Bedrooms: All Baths: All Lot Size: All Sq Ft: AllProperty Types: Residential (Half Duplex, Duplex, Co-Op, Condominium, Home w/Rental Unit, Income, Manufactured/MobileHome, Modular, Planned Unit Development, Ranch, Single Family Home, Townhouse, Villa, Two-Story Residential)This report is developed monthly and is based on information fromThe 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
