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Spring 2012 Market Update
If you have cash or you can qualify for financing, now is an exceptional time to buy a home on Siesta Key. Low rates with low home prices make buying a home in this area the right time! Call now for more information: Dan 941-284-9893 & Marnie 941-809-8099
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| Average Home Price | $375,000 - View Graph Trend |
| Average Price Compared to Last Year | Down 0-5% |
| Average Time on Market | 90-120 days |
| Best Selling Price Range | $350,000 - $399,000 |
| Worst Selling Price Range | $150,000 - $199,000 |
| Prices As % of Asking Price | 90-95% |
| Existing Home Prices for the past 90 days are? | Increasing |
| Market Trend | Decreasing |
| Buyers’ or Sellers’ Market | More sellers than buyers |
| Buyer Activity for the past 90 days in Siesta Key is | No Change |
| Seller Activity for the past 90 days in Siesta Key is? | Increasing |
| Multiple Offers? | No |
| Multiple Offers Commentary | Only 5% of total active listings on Siesta Key are distressed sales (Down from last quarter). Some bank owned properties and well priced resales are receiving multiple offers. All price ranges are selling on par with one another on Siesta Key at this time. The number of Active units for sale on Siesta Key is at it’s lowest level since 2006 -- Down 15% compared to this time last year. |
| 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 | Financing is available, however, the purchase of certain condominium products may require upto a 25% down payment. |
| Housing Inventory | Limited Supply |
| Inventory Comments | Condominiums represent sixty percent of the active listings located on Siesta Key. |
| Greatest Activity | Investors |
| Reason to Buy/Sell | Siesta Key was named the best beach in the USA by Dr. Beach (2011). Siesta Key was ranked #2 beach in the United States for both 2009 and 2010! This has increased the number of travelers to the island, thus increasing the gross rent obtained by investors. Sarasota was also featured on the Today Show in mid 2009 as the #1 place to purchase property in the country. Sarasota was also named the #1 market in the western hemisphere to buy property by Portfolio.com this past year. Lower prices, good selection and historically low interest rates combine to create a perfect time to buy in Siesta Key and Sarasota! |
| Nearest Metro Area | Sarasota |
| Housing Hot Spots | Sarasota Beach for Single Family Homes. For condominiums, Crescent Royale and Our House at the Beach are seeing an increase in buyer activity. |
| Average Sold Price | $375,000 - View Graph Trend |
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Dan Jasmer & Marnie Matarese
J Wood Realty
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