Real Estate Sales in Sarasota Reach Higest Level for 2010

Sarasota Florida’s real estate sales for 2010 just keep getting better even with negative press about the oil crisis to our north, the end of the taxpayer credit and looming worries of a bad economy.

The Sarasota Board of Realtors released stats today for June 2010 and “once again property sales topped the 700 mark” hitting the highest level for this year.  Sales were higher than any date since December 2005.  The previous high for Sarasota real estate sales was in May of this year when sales topped 766.  June property sales totaled 776.  Sales were 27.2 percent higher than last year in June.

“In June, 576 single family homes were sold, 28.3 percent higher than June 2009, when only 449 single family homes sold.”  Homes values are trending higher also.

Condo sales totaled 200 in June showing a 24.2 percent increase over June 2009.  Median price of condos fell, primarily due to distressed property sales.

Once again, pending sales were strong although not as high as the period where homebuyers were eligible for tax credits.  Eric Shumway, 2010 SAR President pointed that Sarasota “anticipated a potential drop off in sales with the expiration of the $8,000 tax credit.”  Strong June figures show continued strength in the Sarasota real estate market.

Distressed property sales for foreclosures and short sales rose in June and property inventory dropped.  Inventory is at the lowest level since the late summer of 2005.

The return of a seller’s market is in sight for properties under $250,000.  To read the full Sarasota real estate report, click here.

Contact the John Allen Team for more information on Sarasota homes for sale at 941-544-6467.  Visit our newest comprehensive downtown Sarasota real estate site if you are searching for an urban lifestyle.

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