Have home prices hit bottom?

Sarasota Real Estate News, Miscellaneous

In today's Sunday newspaper there is an article about whether the Sarasota real estate market has hit bottom. You can read the article here.

Here are some highlights from the article:

• In the Sarasota-Bradenton area, sales of existing homes the past few months have moved steadily in one direction: up.
• For the past 10 months, median home-sale prices appear to have stabilized in a band between $240,000 and $270,000.
• A new analysis by the Herald-Tribune of historical price appreciation in Sarasota and Manatee counties suggests that prices may be approaching a more normal level.
• Since March, the number of homes listed for sale in the Sarasota Multiple Listing Service has dropped by 12 percent, or nearly a thousand homes.
• Helping fuel sales is more realistic pricing on the part of sellers, who appear to be getting the message that the boom is dead and buried.

There is still no way to tell if we are at the bottom yet. The only way we will know is when we are a number of months beyond it. If you are looking to buy a place to make your home and live there for a number of years then this is an excellent time to start looking. The best properties will get snapped up first leaving everything else left.

If Shayla or I can help you find a home contact us here.

Date: Sunday, June, 29th 2008 @ 09:07:31 AM
Views: 437

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