Real Estate Outlook Sarasota & Manatee Counties December 2011
Declining Inventories May Push Home Prices Up Temporarily Until Shadow Inventory is Released into the Market
While foreclosure activity has increased in the region, we are not seeing the homes released into the market. The robo-signing issues of the past appear to be still bogging down the process. Until those foreclosed roperties make it to the market, expect to see continued declining inventories and a possible increase in prices.
Available inventory is down in all local areas covered by this report, from a decline of 17.3% on Longboat Key to a decline of 30.8% in Bradenton from December 2010 to December 2011. Anna Maria continues on a healthy pace as the island is increasingly “discovered” by both tourists and investors. Siesta Key also is benefiting from the increased exposure as the nation’s #1 beach with strong real estate activity.
Sales were up in all but one area in December compared to November, as buyers pushed to close for tax and other reasons. Although pending sales decreased from November to December in most areas, overall the year ended with a substantial increase in pending sales in 2011, heralding a strong season ahead.
SARASOTA COUNTY
| Residential
(Single Family & Condo) |
December 2011 | Change
vs. Prior Month (November) |
December 2010 | Change vs. 2010 |
|---|---|---|---|---|
| Available Inventory | 6,565 | -2.9% | 8,867 | -26.0% |
| Sold | 788 | -11.6% | 814 | -3.2% |
| Pending | 853 | -2.1% | 700 | +21.9% |
| Sold Average Days on
Market |
187 | +2.2% | 179 | +4.5% |
| Median Sold Price | $137,750 | +2.0% | $135,000 | +2.0% |
| Months Supply of
Inventory |
6.2 | -6.2% | 10.7 | -42.5% |
MANATEE COUNTY
| Residential
(Single Family & Condo) |
December 2011 | Change
vs. Prior Month (November) |
December 2010 | Change vs. 2010 |
|---|---|---|---|---|
| Available Inventory | 4,524 | -4.1% | 6,225 | -27.3% |
| Sold | 509 | +11.1% | 546 | -6.8% |
| Pending | 549 | -7.6% | 468 | +17.3% |
| Sold Average Days on
Market |
200 | +22.7% | 179 | +11.7% |
| Median Sold Price | $152,900 | +9.3% | $155,250 | -1.5% |
| Months Supply of
Inventory |
6.6 | +2.4% | 11.3 | -41.2% |
ANNA-MARIA ISLAND
| Residential
(Single Family & Condo) |
December 2011 | Change
vs. Prior Month (November) |
December 2010 | Change vs. 2010 |
|---|---|---|---|---|
| Available Inventory | 413 | -2.8% | 513 | -19.5% |
| Sold | 26 | +73.3% | 35 | -25.7% |
| Pending | 22 | +22.2% | 19 | +15.8% |
| Sold Average Days on
Market |
216 | -13.9% | 225 | -4.0% |
| Median Sold Price | $378,750 | -31.8% | $400,000 | -5.3% |
| Months Supply of
Inventory |
16.1 | -24.8% | 24.1 |
-33.1% |
BRADENTON
| Residential
(Single Family & Condo) |
December 2011 | Change
vs. Prior Month (November) |
December 2010 | Change vs. 2010 |
|---|---|---|---|---|
| Available Inventory | 2,311 | -6.7% | 3,342 | -30.8% |
| Sold | 284 | +50.3% | 302 | -6.0% |
| Pending | 302 | -9.9% | 260 | +16.2% |
| Sold Average Days on
Market |
195 | +26.6% | 170 | -14.7% |
| Median Sold Price | $112,500 | +2.3% | $124,750 | -9.8% |
| Months Supply of
Inventory |
6.1 | +3.5% | 10.8 | -43.5% |
LAKEWOOD RANCH
| Residential
(Single Family & Condo) |
December 2011 | Change
vs. Prior Month (November) |
December 2010 | Change vs. 2010 |
|---|---|---|---|---|
| Available Inventory | 356 | -2.7% | 482 | -26.1% |
| Sold | 59 | -4.8% | 65 | -9.2 |
| Pending | 59 | +28.3% | 41 | +43.9% |
| Sold Average Days on
Market |
150 | -0.7% | 222 | -32.4% |
| Median Sold Price | $320,000 | +14.1% | $291,000 | +10.0% |
| Months Supply of
Inventory |
4.5 | -2.6% | 9.9 | -54.1% |
SARASOTA
| Residential
(Single Family & Condo) |
December 2011 | Change
vs. Prior Month (November) |
December 2010 | Change vs. 2010 |
|---|---|---|---|---|
| Available Inventory | 3,507 | -1.4% | 4,851 | -27.7% |
| Sold | 405 | -0.7% | 345 | -17.4% |
| Pending | 504 | +3.9% | 397 | +27.0% |
| Sold Average Days on
Market |
179 | -2.2% | 186 | -3.8% |
| Median Sold Price | $140,000 | +4.5% | $149,900 | -6.6% |
| Months Supply of
Inventory |
5.6 | -5.2% | 10.5 | -47.0% |
Longboat Key – (Zip Code 34228. Does not include St. Armand’s Circle or Bird Key)
| Residential
(Single Family & Condo) |
December 2011 | Change
vs. Prior Month (November) |
December 2010 | Change vs. 2010 |
|---|---|---|---|---|
| Available Inventory | 604 | -0.8% | 730 | -17.3% |
| Sold | 40 | +37.9% | 33 | +21.2% |
| Pending | 29 | -31.0% | 42 | -31.0% |
| Sold Average Days on
Market |
254 | -3.4% | 258 | -1.6% |
| Median Sold Price | $435,000 | -3.3% | $462,500 | -5.9% |
| Months Supply of
Inventory |
18.9 | +45.1% | 15.4 | +22.5% |
Siesta Key -
| Residential
(Single Family & Condo) |
December 2011 | Change
vs. Prior Month (November) |
December 2010 | Change vs. 2010 |
|---|---|---|---|---|
| Available Inventory | 560 | +2.6% | 695 | -19.4% |
| Sold | 46 | +39.4% | 50 | -8.0% |
| Pending | 45 | +21.6% | 40 | +12.5% |
| Sold Average Days on
Market |
292 | +18.2% | 245 | +19.2% |
| Median Sold Price | $377,500 | +3.4% | $438,750 | -14.0% |
| Months Supply of
Inventory |
10.7 | -19.3% | 15.3 | -30.4% |
Venice -
| Residential
(Single Family & Condo) |
December 2011 | Change
vs. Prior Month (November) |
December 2010 | Change vs. 2010 |
|---|---|---|---|---|
| Available Inventory | 1,266 | -4.0% | 1,593 | -20.5% |
| Sold | 155 | +16.5% | 163 | -4.9% |
| Pending | 147 | -13.5% | 131 | +12.2% |
| Sold Average Days on
Market |
174 | -0.6% | 154 | +13.0% |
| Median Sold Price | $130,000 | -18.8% | $140,250 | -7.3% |
| Months Supply of
Inventory |
7.0 | +12.0% | 10.1 | -30.8% |
ENGLEWOOD -
| Residential
(Single Family & Condo) |
December 2011 | Change
vs. Prior Month (November) |
December 2010 | Change vs. 2010 |
|---|---|---|---|---|
| Available Inventory | 913 | -0.4% | 1,144 | -20.2% |
| Sold | 77 | +20.3% | 82 | -6.1% |
| Pending | 77 | -13.5% | 66 | +16.7% |
| Sold Average Days on
Market |
177 | -7.8% | 175 | +1.1% |
| Median Sold Price | $122,000 | +26.0% | $112,000 | +8.9% |
| Months Supply of
Inventory |
10.1 | +13.5% | 15.1 | -32.6% |
For a printable version of this report click here
MLS: MFRMLS Price: All Construction Type: All Bedrooms: All Baths: All Lot Size: All Sq Ft: All
Property Types: Residential (Half Duplex, Duplex, Co-Op, Condominium, Home w/Rental Unit, Income, Manufactured/Mobile
Home, Modular, Planned Unit Development, Ranch, Single Family Home, Townhouse, Villa, Two-Story Residential)
This report is developed monthly and is based on information from
The MFRMLS Multiple Listing Service for the period stated above.
For more information about any of the figures seen in this report or to inquire about additional statistics,
please contact Peter Crowley, 941-316-6569 or email pcrowley@alliancegroupfl.com
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