Sarasota Real Estate Market News

North Port running low on homes to list

It seems like only yesterday that North Port was suffering from a glut of distressed homes that kept coming on the market at fire-sale prices.

But today the situation looks very different.

According to an analysis provided by Michael Saunders & Co. agent Robert S. Goldman, a 4.3-month supply of homes was for sale in North Port at the end of June — a ridiculously low number, considering that a six-month supply represents a healthy market and anything below that means sellers can begin pushing prices up.

And there have been some early indicators that prices are rebounding. The median price for the 50 homes that sold during the first 20 days of July was $105,500, up 12 percent from the same 20-day period last year. In turn, the median price has battled back from a Great Recession low of $76,125 at the end of November.

Read more HERE

July 29, 2011 - Posted by | News related to Investors, News related to the Market

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