Sarasota Florida Real Estate Market Girds the Real Estate Rebound

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Some major players in the real estate market in Southwest Florida are gearing themselves up for a rebound in the housing market which, statistics indicate, is approaching the conditions experienced in the industry’s boom years of 2005-2006 reports Sarasota Bay Real Estate.

Some, major players in the real estate market in Southwest Florida are gearing themselves up for a rebound in the housing market which, statistics indicate, is approaching the conditions experienced in the industry’s boom years of 2005-2006 reports Sarasota Bay Real Estate. For both buyers and sellers of homes in Sarasota, Manatee, and Venice, too, now is the best time to act. Prices of homes for sale in the three counties appear to have already bottomed out early this year, and price levels in practically all market segments are rising. Moreover, inventories of available properties have been declining steadily since the start of the year, which often leads to multiple offers on the most desirable properties and some time of waiting before prospective buyers could find the right homes for them.

In August this year, the number of homes sold in Manatee County increased by 14.6% from this July and by 31.6% from August 2011. The same uptrend was observed this August in Sarasota County where home sales rose by 8.3% from July and by 14.6% from August last year. The Sarasota Association of Realtors (SAR) noted that its members closed 819 property deals this August, up 36% from the year-ago level. The 2012 second quarter was the best in seven years statistically, and the third quarter appears headed higher as well.

Notably, properties that were put under contract rose to 953 in August 2012 from July’s 919 total and June’s 860 pending sales. Compared with pending sales in August last year, which amounted to 813, this year’s level was higher by 16%. The high number of pending sales this August indicates even better sales this September on a year-on-year basis.

Since the start of 2012, some of the major developers in Southwest Florida have been buying land to position themselves for what they see as an impending housing market rebound. One of these is Medallion Homes which is girding to add more of its homes for sale in Sarasota and Manatee counties. This company is one of the prime movers in efforts announced this year to revive the shelved Long Bar Pointe project, a 523-acre development along two and a half miles of Sarasota Bay in west Bradenton, Manatee County. Inland, Medallion Homes recently acquired ninety-four acres at the northwest corner of Fort Hamer and Golf Course roads, an area northeast of Bradenton erstwhile known as “Wildcat Preserve.”

Early this year, Medallion Homes’ Gamble Creek Estates project has taken off, bringing in 161 new homes with starting prices in the high $100s. Elsewhere in Manatee, this developer has several other communities. Among them are Country Meadows, where the homes start at the $200s, and The Inlets wherein residences re in the $400s up to the $1 million range. In Sarasota County, this developer has a gated golf community—the Bobcat Trail where homes are priced in the $200s and the $300s. With the presence of such properties in the market and prospects for an even wider choice on new home developments, exciting days indeed appear ahead for the Southwest Florida home market.

About Sarasota Bay Real Estate

Sarasota Bay Real Estate is a full service real estate brokerage in Sarasota Florida owned by Sarasota real estate broker, Christina Miller, and marketing professional, Roy Hunter. Together they, and their team of well-experienced agents, provide some of the highest quality real estate marketing services for the properties in the company’s inventory. When property marketing strategies are paramount in sellers listing requirements, Sarasota Bay Real Estate is the clear choice in the Sarasota real estate market.

Contact information for Sarasota Bay Real Estate can be found by following this link.

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