An Excellent 2017 for Sarasota Real Estate! As we start another New Year, Helen & I wish all of you a Heartfelt, Healthy and Prosperous 2018! Thank you to all whom we have helped over the past years! We would be honored to help you, or someone that you know, find or sell a property in Florida. Please give Kym a call at (941) 400-9420 or Helen at (941) 400-9489.
Now for the Real Estate News. Annual property appreciation is running in Manatee, Sarasota and Charlotte Counties between 8.2% and 10.6% depending upon the county and location. Inventory levels crept up a little to between 4.2 and 4.7 months depending upon the county, but still historically low.
Now the three County news…….
In Sarasota County, the Year to Date Median Price change is an increase of +8.2%. New Listings decreased -12.7% in December and Closed Sales increased +10.4%. Inventory Level increased only +2.1% and is now at 4.7 months of Inventory. Remember, a Balanced Real Estate Market or a Normal Market has an Inventory of 6 months. For Sarasota County, the Average Days on Market increased to 74 Days. The Average Sold to Original Listing Price Ratio increased to 94.2%.
Manatee County experienced an increase of +9.2% Year to Date Median Price. New Listings decreased -22.5% in December and Closed Sales increased +12%, putting more pressure on the sales price. Inventory was basically no change from November with a so slight drop of -.05%, and the Inventory Level in December for Manatee County is 4.2 months. For Manatee County, the Average Days on Market increased to 72 Days. The Average Sold to Original Listing Price Ratio dropped slightly to 94.3%.
Charlotte County saw an increase of +10.6% in the Year to Date Median Price. New Listings decreased -11% in December. Closed Sales increased +25.1% and the Inventory Level increased +4% in December. The Inventory Level in December is now 4.3 months of Inventory. For Charlotte County, the Average Days on Market decreased to 71 Days. The Average Sold to Original Listing Price Ratio increased to 94.8%.
Look at the graphics with the Real Estate Activity by County in Manatee, Sarasota and Charlotte Counties to see specific changes to New Listings, Sold, Inventory Levels as well as the Year to Date Median Price Change.
Still very attractive Single-Family Home & Condominium Pricing and Great Interest Rates!
Interest Rates for a 30-year mortgage with 20% down (Single Family Home):
$100,000 for 30 years at 4.375% costs $499.00 per month.
$200,000 for 30 years at 4.375% costs $999.00 per month.
$300,000 for 30 years at 4.250% costs $1,475.00 per month.
Different types of Loan Products are available including:
• FHA 100%
• Bank Statement Program for Self Employed
• FHA 96.5% – Down to 580 Credit Score
• USDA 100% Loans – 620 Credit Score
• VA – 100% Financing
• FHA Steamline Refinance
• W-2 Only Program
• Condo Financing
• International Buyer Financing
Each person qualifies for a loan differently and your interest rate could be different. APR is not quoted, but available. Different programs are available with low down payments. Call me to see what your rate is.
Still Low Housing Prices & Great Interest Rates! What are you waiting for?
We can help you with an REO/Bank Owned, Short Sale, Normal Sale or New Home Sale. Don’t miss your opportunity!
Call Kym at (941) 400-9420 or Helen at (941) 400-9489 to help you find Your Florida Lifestyle!
Published on 2018-01-23 17:35:13