Sarasota August 2007 Home Sales

September 28, 2007

Even in a month where unusually weak home sales were common across Florida and beyond, the Sarasota region stood out: August sales dropped to the lowest level for any month in eight and a half years and were the lowest for an August in at least a decade. The median sale price fell on a year-over-year basis for the ninth consecutive month, a real estate information service reported.

A total of 1,243 new and resale homes closed escrow in August in the Sarasota-Bradenton-Venice metro area. That was down 7.7 percent from July and down 30.3 percent from 1,784 in August 2006, according to DataQuick Information Systems of La Jolla, Calif. The firm tracks real estate trends nationally via public property records.

Sarasota region sales have fallen on a year-over-year basis for 23 consecutive months.

Last month's sales were the lowest DataQuick has on record for an August and the lowest for any month since January 1999, when 1,222 homes sold. The firm�s complete home sales statistics for the Sarasota region begin in 1997.

The median price paid for all homes combined - new and resale - in the metro area encompassing Sarasota and Manatee counties was $257,050 in August. That was up 2.1 percent from $251,650 in July but down 1.8 percent from $261,800 in August 2006. The median stood 8.4 percent below the record $280,700 median in June 2006. The year-over-year change in the median sale price slipped into single-digits in August last year and went negative in December.

August's $257,050 median for resale condos fell the most among home-type categories, declining 13 percent from August 2006. That put the resale condo median nearly 25 percent below its $265,000 peak, reached in both April last year and January this year. The $250,000 resale house median in August was 3.8 percent lower than a year ago but 16 percent lower than its $297,500 peak in August 2005.

The median price paid per square foot for resale houses, another price gauge analysts track closely, fell to $150 in August, down 15.2 percent from a year ago. It was 22.8 percent below its $195 peak in November 2005. The median price paid per square foot has fallen on a year-over-year basis for 14 consecutive months.

The trend was similar for the median price paid per square foot for resale condos: August's median dropped to $151 a square foot, down 15.6 percent from a year ago and 26.9 percent lower than the peak $207 median per square foot paid in February 2006. This median has fallen on a year-over-year basis for 14 consecutive months.


Sarasota-Bradenton-Venice, FL MSA

 

# Sales

Median price

 

Aug-06

Aug-07

%Chg

Aug-06

Aug-07

%Chg

Resale houses

879

644

-26.7%

$260,000

$250,000

-3.8%

Resale condos

226

217

-4.0%

$230,000

$200,000

-13.0%

New homes

679

382

-43.7%

$279,450

$290,000

3.8%

All homes

1,784

1,243

-30.3%

$261,800

$257,050

-1.8%

Media calls: Andrew LePage (916)456-7157 or John Karevoll (909) 867-9534

Copyright 2005 DataQuick Information Systems. All rights reserved.

Denver Region July Home Sales

September 1, 2010

Portland Region July Home Sales

September 1, 2010

Seattle Region July Home Sales

August 31, 2010

Phoenix Metro Area July Home Sales

August 26, 2010

July Las Vegas Metro Area Home Sales

August 24, 2010

California July Home Sales

August 19, 2010

Bay Area July Home Sales Down Sharply; Median Price Slips From June

August 19, 2010

Southern California Home Sales and Median Price Dip in July

August 17, 2010

Denver Region June Home Sales

August 12, 2010

Portland Region June Home Sales

August 11, 2010

Seattle Region June Home Sales

August 11, 2010

Miami Region June Home Sales

July 31, 2010

Phoenix Metro Area June Home Sales

July 27, 2010

June Las Vegas Metro Area Home Sales

July 26, 2010

California Mortgage Defaults Hit Three-Year Low; Foreclosures Rise

July 21, 2010

California June Home Sales

July 15, 2010

Bay Area June Home Sales Send Mixed Signals

July 15, 2010

Southland home sales edge up, prices level off

July 13, 2010

May Las Vegas Metro Area Home Sales

June 29, 2010

California May Home Sales

June 18, 2010

Bay Area $500K-Plus Home Sales Jump; Median Price Tops $400K

June 17, 2010

Southland median sale price back over $300K; sales at 4-year high

June 15, 2010

Miami Region April Home Sales

June 3, 2010

Phoenix Metro Area April Home Sales

May 27, 2010

April Las Vegas Metro Area Home Sales

May 26, 2010

California Statewide April Home Sales

May 20, 2010

Mixed results for Bay Area April home sales

May 20, 2010

Southern California home sales dip, median price rises from ’09

May 18, 2010

Seattle Region March Home Sales

May 5, 2010

Miami Metro Area March Home Sales

April 30, 2010

Phoenix Region March Home Sales

April 28, 2010

Las Vegas Region March 2010 Home Sales Report

April 26, 2010

California Foreclosure Activity Declines Again

April 20, 2010

California Statewide March Home Sales

April 15, 2010

Bay Area March home sales and median price rise above prior month and ‘09

April 15, 2010

More Incremental Gains for Southland Real Estate Market

April 13, 2010

Phoenix Region February Home Sales

March 26, 2010

Las Vegas Region February 2010 Home Sales Report

March 23, 2010

California Statewide February Home Sales

March 18, 2010

Bay Area home sales down slightly from last year, median sale price rises

March 18, 2010

Southern California median price and sales volume up

March 16, 2010

Seattle Region January Home Sales

March 5, 2010

Miami Metro Area January Home Sales

March 3, 2010

Phoenix Region January Home Sales

February 26, 2010

Las Vegas Region January 2010 Home Sales Report

February 24, 2010

California January Home Sales

February 18, 2010

Bay Area home sales fall; median price up from last year, down from December

February 18, 2010

Southland home sales, median price edge above year-ago level

February 16, 2010

Miami Metro Area December Home Sales

February 5, 2010

Golden State Million-Dollar Home Sales Drop Again

February 4, 2010

Phoenix Region December Home Sales

February 03, 2010

Las Vegas Region December 2009 Home Sales Report

February 2, 2010

Another Drop in California Mortgage Defaults

January 27, 2010

California December Home Sales

January 21, 2010

Bay Area December home sales strongest in three years

January 21, 2010

Southland home sales, median price up over last year

January 19, 2010

Miami Metro Area November Home Sales

January 12, 2010

Seattle Region November Home Sales

January 8, 2010

Phoenix Region November Home Sales

January 06, 2010