I know I sound like a broken record every time I blog these days, but the indicators seem to be pointing the Sarasota market in the right direction. My last 7 or 8 blogs regarding the state of the market locally have been generally favorable. That is a marked change over the past few years when looking at the overall market her.
Even nationally, news seems to be indicating a bottoming out in the housing market. Sarasota saw another rise in units sold in October. Sales of condos rose 10% in October with over 250 units changing hands in Sarasota-Bradenton. There is still some pressure (1.5% decrease in prices from September) on pricing, but it seems to be leveling off.
Most of the pressure seems to be coming from the banks who have gotten their acts together and are slowly releasing some of their inventory back onto the market. That will continue to put pressure on market prices, but could begin to ease in 2013 as they begin to get absorbed by buyers.
But with all the publicity that Sarasota has gotten over the past few months, mortgage rates still at historic lows, no major hurricanes for the last 6 years, no state income tax, and the great weather, we should see lots of folks looking for properties during the season.
Happy Holiday House Hunting!!!
