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Real Estate News in Bradenton and Bradenton Beach - April 21st, 2016
Inventory of available properties is on the rise in both counties. For single family homes in Sarasota County, inventory is up 5.6 percent from March last year, and up 5.0 percent in Manatee County. Condo inventory is likewise up in both counties, with Sarasota County up 22.1 percent, while Manatee County saw an increase of 21.5 percent year-over-year.
The months’ supply of inventory in the two-county area remains in the range from 4.7 to 5.4 months’ inventory this year, compared to 4.5 to 4.8 months last year. This statistic reflects the time it would take to sell all the active listings on the market at the current month’s rate of sales. Six months is the benchmark for a balanced market; anything higher is traditionally a buyer’s market and anything lower is a seller’s market. So while it is still a seller’s market, the return to balance is on the horizon.
“The moderate inventory increase is encouraging as it translates to more options for potential buyers...
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News for Bradenton and Bradenton Beach, FL - January 23rd, 2015 10:24am
2014 Sales Hit Record for Sarasota County; Manatee County Only 28 Sales From 2013 Record
The year 2014 closed with a flurry of sales in Sarasota County, propelling the annual total to an all-time record of 11,550 closed transactions, topping the 2004 total of 11,482. In addition, Manatee County came in at 7,976 sales, within 28 sales of the annual record of 8,004 set in 2013.
"This is truly historic news, and clearly demonstrates our region is experiencing a remarkable success story in real estate," said Association President Stafford Starcher. "Sarasota and Manatee counties have never seen this level of combined sales activity, which actually surpassed the 2004-2005 boom years of a decade ago. The credit goes to our members, who routinely provide excellent service to the buyers and sellers in our area. I couldn't be more proud of these amazing Realtors and all those in industries that support real estate."
December saw closed sales in Sarasota County hit 929, with ...
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News for Bradenton and Bradenton Beach, FL - September 10th, 2014 10:28am
Sarasota County real estate market revisits July cooling trend
Property sales in Sarasota County almost reached the 1,000 level for the fifth straight month in
July 2014, falling just short at 928 closed transactions. In the county's history, only once has
such a five-month hot streak been accomplished — from March through July 2004 — falling just
short this year and in the 2005.
The breakdown for closed sales in July this year was 643 single family homes and 285 condos
sold, according to figures released by Florida Realtors. Closings were off 11.4 percent from last
month (June), when they hit 1,048, and down about 4 percent from July 2013, when there were
969 closings.
Sales the first seven months of 2014 remain ahead of the near record sales pace of 2013, an
historic year for property sales in the county with the second highest number of sales in SAR's
91 year history. The first seven months of 2014 saw 6,875 sales, compared to 6,786 last year at
this time.

News for Bradenton and Bradenton Beach, FL - December 10th, 2013 11:34am
Median sale prices climbed dramatically in Sarasota County in October 2013 compared to last October numbers. Single family home prices were up 11.6 percent ($185,776 this year compared to only $166,500 last year), and condo prices spiked by 20.7 percent ($175,000 this year compared to only $145,000 last October).

Monthly median prices are susceptible to swings based on sales at one end of the price spectrum. But even the rolling median price for the 12 months ending in October 2013 for single family homes was $180,000, up 22.4 percent from the 12-month median ending in October 2012 ($147,000). For condominiums, the figure was $162,900 this October, compared to $148,000 a year ago — a 10.1 percent increase. This means the overall price trend continues to move upward.

Total property sales in Sarasota County, which had seen large year-over-year increases over the summer months, moderated in October 2013. Overall property sales stood at 818 in October ...
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National Market Conditions
2017 1st Quarter Market Report: Home Sales Start Strong in 2017

The 1st quarter of 2017 ended on a strong note with March existing home sales reaching its highest pace in 10 years despite low inventories of homes for sale.

The most notable change in the 1st quarter was another huge increase in markets where there were more buyers than sellers resulting in quick sales and low inventory. Our survey showed that in 73% of the markets surveyed there were more buyers than sellers, an increase of 15% over the 4rd quarter and an increase of 13% over the 1st quarter of 2016. Additionally, 80% of our markets survey showed a tight supply of homes, an increase of 10% over last quarter and 13% over last year. Home prices are also on the rise with 92% of markets showing price appreciation in the last year.

According the National association of Realtors (NAR) existing home sales in March were up 5.9% over last year; inventory of unsold homes is at a 3.8 month supply and 48% of all homes sold in under one month. That is a strong sellers market.

The data in this report is generated primarily from our survey of HouseHunt.com exclusive member real estate agents across the United States. This grass roots approach to studying the housing market gives us a thorough look at where the real estate market is through the eyes and perspective of the local real estate agents who are living and working in the trenches of each community.

Buyer and Seller Activity
The trend in both buyer and seller activity is up slightly in the 1st quarter of 2017 compared to the previous quarter. Buyer activity increased in 74% of the markets surveyed and decreased in 14% of the markets surveyed indicating a significant 8% increase since the 4th quarter o f 2016 and a 1% decline in activity from Spring 2016. Simultaneously, the trend for seller activity continued to increase in the 1st quarter with 45% of the markets indicating increased seller activity compared to 42% of the markets in the 4th quarter of 2016 and 40% of the markets this time last year. Despite increased seller activity there are still more buyers than sellers and homes are selling quickly.

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Summer 2017 Market Update
If you’re coming to the Bradenton area in several years, it may be best to buy now than to pay more later. Lets discuss the options of picking up a second home so that you will be ahead of the game before you move or retire.
Average Sold Home Price: $325,000

Average Time on Market: 60-90 days

Best Selling Price Range: $250,000 - $299,000

Existing Home Prices for the past 90 days: Increasing

Market Trend: Decreasing

Buyer's or Seller's Market: More buyers than sellers

Buyer Activity for the past 90 days: Increasing

Seller Activity for the past 90 days: Increasing

Multiple Offers? Yes

Multiple Offers Commentary: Inventory is getting extremely tight in the market place here. There are multiple offers occurring on desired homes. Buyers are learning to move quickly to obtain the home they really want as there are many others looking for the same type and condition of home. Prices are still at a point to provide good investment, but have risen slightly, and the ratio of selling to listing price is getting slimmer. For serious buyers, this necessitates finding your property quickly and place a reasonable offer so that you may buy the home and not be concerned that your dream home is snatched up by another buyer.

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? 0-5%

Is Financing Available For Qualified Buyers? Yes

Comments on Financing For Qualified Buyers: If your qualified financing is no problem......rates appear to be on the rise for now!

Housing Inventory: Limited Supply

Greatest Activity: First Time Buyers

Best reason to buy or sell: Population Growth

Nearest Metro Area: Sarasota

Housing Hot Spots: Housing hotspot within the Manatee County area would include neighborhoods in the Palma Sola area, waterfront properties in general and Lakewood Ranch, located east of I-75.

Average Sold Home Price: $325,000

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Real Estate Professional, Rick Libro Rick Libro
RE/MAX Alliance Group
Specializing in Bradenton and Bradenton Beach Real Estate
2000 Webber St
Sarasota, Florida 34239
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(Because current market conditions can change rapidly in any given marketplace,
please check with Rick Libro for current Bradenton and Bradenton Beach, FL market conditions before acting on this information.)
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