Higher end properties are also actively selling while the principals purchasing those properties recognize the great value of those properties compared to several years ago.   

New Listings for Residential Properties were 343, which increased only 2% from the previous month. New listings for Condo Properties were 175, a decrease of 25% from the previous month.

As of May 31, 2011, the available inventory of Residential Properties was 1,758 properties, a 5.9 month’s supply. For Condo Properties, the available inventory was 1,333 properties, a 7.2 month’s supply. A normal market condition is 6 months of inventory. This inventory level is a far cry from the 36 months of inventory that Sarasota was experiencing several years ago.

I know the national press reports that the Real Estate Market is soft. What we are experiencing in Sarasota, Florida is a far different story. The bargains across all price bands are being purchased, as the inventory continues to decline.

If you are considering a Real Estate purchase in the Sarasota, FL area, now is the time! Call (941) 400-9420 or email us today!

For real estate investors or second home owners, the opportunity on Anna Maria Island for a return on their investment is fantastic. For instance, a home costing $450,000 can provide $80,000 of rental income a year and a home costing $650,000 can provide $120,000 of annual rental income. Please contact us to discuss how we can help you with an investment property or second home.

Compared to total sales of 528 in February 2010 , sales were up 27 percent to 673 total sales in February 2011. In February 2011, there were 472 closings on Single Family Homes and 201 closings on Condominiums last month by members of the Sarasota Multiple Listing Service.

For a Free Search of available properties in Sarasota, FL, please visit our web site. www.SarasotaFLAreaHomes.com

Lakewood Ranch is located on 33,000 acres, approximately 48 square miles, of which 9,000 acres are developed. There are more than 150 miles of intersecting sidewalks and trails as well as its own hospital, Lakewood Ranch Medical Center, Lakewood Ranch Golf and Country Club with 54 holes of golf,   clubhouse, athletic center with fitness equipment, 18 tennis courts, Legacy Golf Club with 18 hole daily fee, 80+ activity groups for different interests, and its own Main Street for shopping, dining and a movie theatre. Lakewood Ranch is the #2 rated Community in Florida and the average age living in the Ranch is late 40′s.

In the Sarasota Market we are experiencing a rapid recovery. Only two years ago, January 2009, our overall inventory of Single Family Homes was 25 months. At the end of January 2011, the inventory of Single Family Homes was 9 months. If we look at specific price bands, one price band was 5 months. A normal Market Equilibrium between Buyers and Sellers is 6 months of inventory.

To be even more accurate, we can look at specific neighborhood trends for our principals. Some neighborhoods have seen the bottom and are starting to appreciate based upon recent sales. Also, remember that the better properties sell first! Clearly, now is the time to buy!

For a Free Search of properties in the Sarasota, Florida area, please visit our web site at www.SarasotaFLAreaHomes.com

The following is the inventory of Single Family Homes in Sarasota. A normal market inventory level is 6 months. In the price bands under $150,000 the inventory is a 4 months supply. In the price band from $150,000 to $250,000 the inventory is a 6 months supply. In the price band  from $250,000 to $350,000 the inventory is 9.5 months supply. In the price band from $350,000 to $500,000 the inventory is a 9.5 months supply. In the price band from $500,000 to $750,000 the inventory is 13 months supply. In the price band from $750,000 to $1,000,000 the inventory is 16.9 months supply. Above $1,000,000 the inventory is above  24 months.  

Increased sales and a lower inventory indicate a very positive sign, as Sarasota continues to return to a normal market.