Sarasota Real Estate Was a Little Quieter in July!

Sarasota Real Estate Was a Little Quieter in July! Manatee, Sarasota and Charlotte Counties, all saw New Listings and Closed Sales drop for July. Inventory continues at historical low Inventory Levels. Consequentially, Sarasota County has a 3.4 Month Inventory Level, Manatee County has a 3.3 Month Inventory Level, and Charlotte County has a 3.3 Month Inventory. All Counties are lower in July compared to June.

Don’t worry, the Sarasota Real Estate Market remains strong and the Financial Institutions are not giving any money away! We have about 1,000 people per day moving to Florida. The Florida population is about 21,000,000 and in season grows to 103,000,000. Still a great time to Sell or Buy!
Now the three County news…….

In Sarasota County, the Year to Date Median Price +6.1% from a year ago. New Listings decreased -11.4% in July and Closed Sales decreased -12.7%. Inventory Level decreased -5.9% and is now at an even lower, 3.4 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 1 day to 80 Days. The Average Sold to Original Listing Price Ratio increased slightly to 93.6%.

Manatee County, the Year to Date Median Price change is an increase of +4.9%. New Listings decreased -10.4% in July and Closed Sales decreased -8.8%. Inventory decreased -5.1% in July and is a low of 3.3 months. For Manatee County, the Average Days on Market increased 3 days to 70 Days. The Average Sold to Original Listing Price Ratio increased slightly to 94.7%.

Charlotte County saw no change in the Year to Date Median Price. New Listings increased +1.1% in July. Closed Sales decreased -14.8% and the Inventory Level decreased -3.1%. The Inventory Level in July is now a low of 3.3 months of Inventory. For Charlotte County, the Average Days on Market increased 10 days to 78 Days. The Average Sold to Original Listing Price Ratio stayed basically the same at 93.6%.

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 Streamline 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!