Wednesday, January 27, 2010
Sales of Condos are up while prices are down
There's a good article in the Sarasota Herald today about the local condo market:
Condo sales end 2009 up strongly
Staff Report
Published: Wednesday, January 27, 2010 at 1:00 a.m.
In the Sarasota-Bradenton market, December sales rose 144 percent compared with a year ago, with 310 condos sold compared with 127 in December 2008. For all of 2009, 2,618 units changed hands, up 14 percent from 2,291 in 2008.
In Charlotte County-North Port, December sales rose 68 percent, with 47 units changing hands compared with 28 a year ago. For the year, 404 condo units changed hands, up 41 percent, according to data from the Florida Association of Realtors.
Sales of homes in the Sarasota-Bradenton and Charlotte County-North Port market rose 43 percent and 42 percent, respectively, during December.
The jump in condo sales for the year came at the expense of prices in a region that continues to be dominated by distressed sales -- foreclosures and short sales.
For the year, the median sales price in the Sarasota-Bradenton market were down 31 percent, from $213,600 to $147,800. In Charlotte County-North Port, the yearly median was $95,200, down 25 percent from $126,500 in 2008.
But prices showed life last month, giving more evidence of what has been a stabilizing trend for several months.
The December median sales price in Sarasota-Bradenton dropped 22 percent to $148,600 from $191,700 a year ago. But last month's median was up 5.3 percent when compared with $141,000 in November. In Charlotte County-North Port, prices dropped 31 percent to $82,500 from $120,000 a year ago. But the median was up 3.1 percent from $80,000 in November.
Statewide, 5,968 condo units changed hands during December, a 91 percent increase from a year ago. The median was $107,000, down 18 percent from $130,300.
The biggest price drops were in Ocala at 58 percent, Tallahassee at 55 percent and Charlotte County-North Port's 31 percent decline.
For the year, 55,985 condominiums changed hands, a 47 percent increase from 2008, while the median was $108,000, down from $164,200 in 2008.
This story appeared in print on page D3
Copyright © 2010 HeraldTribune.com
There's a good article in the Sarasota Herald today about the local condo market:
Condo sales end 2009 up strongly
Staff Report
Published: Wednesday, January 27, 2010 at 1:00 a.m.
In the Sarasota-Bradenton market, December sales rose 144 percent compared with a year ago, with 310 condos sold compared with 127 in December 2008. For all of 2009, 2,618 units changed hands, up 14 percent from 2,291 in 2008.
In Charlotte County-North Port, December sales rose 68 percent, with 47 units changing hands compared with 28 a year ago. For the year, 404 condo units changed hands, up 41 percent, according to data from the Florida Association of Realtors.
Sales of homes in the Sarasota-Bradenton and Charlotte County-North Port market rose 43 percent and 42 percent, respectively, during December.
The jump in condo sales for the year came at the expense of prices in a region that continues to be dominated by distressed sales -- foreclosures and short sales.
For the year, the median sales price in the Sarasota-Bradenton market were down 31 percent, from $213,600 to $147,800. In Charlotte County-North Port, the yearly median was $95,200, down 25 percent from $126,500 in 2008.
But prices showed life last month, giving more evidence of what has been a stabilizing trend for several months.
The December median sales price in Sarasota-Bradenton dropped 22 percent to $148,600 from $191,700 a year ago. But last month's median was up 5.3 percent when compared with $141,000 in November. In Charlotte County-North Port, prices dropped 31 percent to $82,500 from $120,000 a year ago. But the median was up 3.1 percent from $80,000 in November.
Statewide, 5,968 condo units changed hands during December, a 91 percent increase from a year ago. The median was $107,000, down 18 percent from $130,300.
The biggest price drops were in Ocala at 58 percent, Tallahassee at 55 percent and Charlotte County-North Port's 31 percent decline.
For the year, 55,985 condominiums changed hands, a 47 percent increase from 2008, while the median was $108,000, down from $164,200 in 2008.
This story appeared in print on page D3
Copyright © 2010 HeraldTribune.com
Labels: Sarasota Condos sales are up
