Sarasota Real Estate - Home Price Cuts Are Helping Revive A Sleepy Market
|
The figures mentioned on January 2008 home sales statistics for the whole of Southwest Florida, are giving more credence to property observers and brokers who are contending that the housing market is ahead of the rest of the state, or ahead of their nation as a whole, in recovering from the doldrums created by the US housing crisis.
Based on January statistics, the 4 percent growth in sales for the Sarasota-Bradenton region, and the 13 percent rise for its Charlotte County-North Port areas, has marked two of 3 sales gains for the state's 20 most rewarding and biggest markets.
However, the sales gains came at a massive price, with median home sales prices dropped by 13 percent in the Sarasota-Bradenton region and 21 percent in the Charlotte County-North Port area, as housing sellers continued to adjust to the realities of their present housing market.
Area homes for sale in ocala fl 34471
At a comparison of sales in the Southwest Florida region for January, Sarasota-Bradenton real estate agents sold 490 homes in January, compared to 472 in precisely the same period last year.
In Charlotte County-North, brokers were reported to have sold 175 homes last month, as compared with 155 for the same period last year. The drop in home sales in other areas of the state ranged from 6 per cent in Fort Walton Beach to 51% in Ocala. During January, pricing in Sarasota-Bradenton climbed by 13 per cent to $246,300, and in Charlotte County-North Port it went down by 21 per cent to $156,800, basically almost on pricing throughout the last several months.
According to the Florida Association of Realtors, just 6,737 homes changed hands in Florida last month, and this represents a 28 percent decrease from precisely the same month last year.
The sales price was pegged. Home sale prices basically declined in every market in the state, except in Panama City, which saw a 13% rise, and Pensacola, which noted a rise of 3 percent. The biggest seen so much was in the Fort Pierce-Port St. Lucie market, which saw a 27 percent decrease.
Are Foreclosure Rates Still High?
The reports of the gains in home sales however came with a more sobering note on Monday,, together with the Southwest Florida region noting around 1,924 foreclosure activities in January, which was just a little fewer than the ones in December.
At this time last year, the Manatee, Sarasota and Charlotte counties had reported just 198 foreclosures. On a per-capita basis, Charlotte County's January foreclosures placed it at No. 7 in the state and No. 42 nationwide, closely followed by Sarasota County at No. 8 and No. 45, respectively. On a national level, the 233,001 foreclosure actions filed in January rose 8 percent from December and nearly 57 percent from one year ago.
Based on RealtyTrac, a property firm that records foreclosures nationwide, January's foreclosure numbers demonstrate that foreclosure action is continuing on its upward tendency, though much slower compared to 19 percent spike at this time last year. RealtyTrac adds that lots of important states actually experienced reduced foreclosure action from the previous month. The state of Florida was third in foreclosure action behind Nevada and California, two other nations which experienced speculative buying throughout the 2004-05 home season.
Housing Market Observers Are Painting A Positive Outlook
The home sector as a whole is still in a optimistic and optimistic mood, despite the gloomy foreclosure figures, because sector observers were encouraged by the January figures.
Based on Sarasota-Bradenton brokers, they are convinced that the market has hit its nadir, a belief shared by a few Florida economists, who also noted that the market has hit bottom in Sarasota, and a few are starting to pick up the bits, by buying homes at this time, and temporarily holding them as rental properties.
Some have found that single-family homes in Sarasota that sell for $150,000 or not, and can fund them as rental property for $1,200 to $1,300 a month to pay their expenses. As of now, local home analysts are saying that leases are more beneficial in Sarasota than in Charlotte or North Port, because they had such a massive building boom .
Based on January statistics, the 4 percent growth in sales for the Sarasota-Bradenton region, and the 13 percent rise for its Charlotte County-North Port areas, has marked two of 3 sales gains for the state's 20 most rewarding and biggest markets.
However, the sales gains came at a massive price, with median home sales prices dropped by 13 percent in the Sarasota-Bradenton region and 21 percent in the Charlotte County-North Port area, as housing sellers continued to adjust to the realities of their present housing market.
Area homes for sale in ocala fl 34471
At a comparison of sales in the Southwest Florida region for January, Sarasota-Bradenton real estate agents sold 490 homes in January, compared to 472 in precisely the same period last year.
In Charlotte County-North, brokers were reported to have sold 175 homes last month, as compared with 155 for the same period last year. The drop in home sales in other areas of the state ranged from 6 per cent in Fort Walton Beach to 51% in Ocala. During January, pricing in Sarasota-Bradenton climbed by 13 per cent to $246,300, and in Charlotte County-North Port it went down by 21 per cent to $156,800, basically almost on pricing throughout the last several months.
According to the Florida Association of Realtors, just 6,737 homes changed hands in Florida last month, and this represents a 28 percent decrease from precisely the same month last year.
The sales price was pegged. Home sale prices basically declined in every market in the state, except in Panama City, which saw a 13% rise, and Pensacola, which noted a rise of 3 percent. The biggest seen so much was in the Fort Pierce-Port St. Lucie market, which saw a 27 percent decrease.
Are Foreclosure Rates Still High?
The reports of the gains in home sales however came with a more sobering note on Monday,, together with the Southwest Florida region noting around 1,924 foreclosure activities in January, which was just a little fewer than the ones in December.
At this time last year, the Manatee, Sarasota and Charlotte counties had reported just 198 foreclosures. On a per-capita basis, Charlotte County's January foreclosures placed it at No. 7 in the state and No. 42 nationwide, closely followed by Sarasota County at No. 8 and No. 45, respectively. On a national level, the 233,001 foreclosure actions filed in January rose 8 percent from December and nearly 57 percent from one year ago.
Based on RealtyTrac, a property firm that records foreclosures nationwide, January's foreclosure numbers demonstrate that foreclosure action is continuing on its upward tendency, though much slower compared to 19 percent spike at this time last year. RealtyTrac adds that lots of important states actually experienced reduced foreclosure action from the previous month. The state of Florida was third in foreclosure action behind Nevada and California, two other nations which experienced speculative buying throughout the 2004-05 home season.
Housing Market Observers Are Painting A Positive Outlook
The home sector as a whole is still in a optimistic and optimistic mood, despite the gloomy foreclosure figures, because sector observers were encouraged by the January figures.
Based on Sarasota-Bradenton brokers, they are convinced that the market has hit its nadir, a belief shared by a few Florida economists, who also noted that the market has hit bottom in Sarasota, and a few are starting to pick up the bits, by buying homes at this time, and temporarily holding them as rental properties.
Some have found that single-family homes in Sarasota that sell for $150,000 or not, and can fund them as rental property for $1,200 to $1,300 a month to pay their expenses. As of now, local home analysts are saying that leases are more beneficial in Sarasota than in Charlotte or North Port, because they had such a massive building boom .