Sarasota and Port Charlotte Property Sales Rise in April
Posted by Benjamin Dona on Saturday, May 31st, 2008 at 9:59am.
Home buyers have moved back into Southwest Florida, pushing April home sales up 5% in Sarasota and 6% in Port Charlotte. Even more promising, the rising sales were accompanied by rising prices. Though prices continue to be lower than a year ago, the median Sarasota sales price ($268,200) was 12% higher in April and Port Charlotte's property sales where the third-best performance in the state for the month. Overall, median sales prices are still lower than a year ago; 11% lower in Sarasota and 27% lower in Port Charlotte, but the year-over-year comparisons mask nine months of prices stabilizing in a band of roughly $240,000 to $270,000.
Realtors from all over the area have been saying for several months that sales were perking up in Southwest Florida and April's numbers are showing their insights to be true. If there is any drawback that is still holding the market back, its inventory and unrealistic sellers who still refuse to accept the reality of the market and lower their prices. However, savvy buyers are aware of the bargains and are taking advantage of the many well priced properties that are available.
So, if you're in the market for that dream vacation home you've always wanted, now is the time again here in Southwest Florida. Just like we may never see another boom like 2005, we also may not see these types of prices again once the market turns around for good.
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