Sarasota market continues to grow, showing nearly 36% higher sales than last month. This in part is due to the stimulus of $8,000 tax credit to new homeowners. Short sales and bank owned accounted for half of the single family homes sold in October and a third of the condo sales.
Statistics are pointing to the market, in initial stages of recovery. Inventory is declining and at the lowest point since the boom ended. The current time to sell a single family home in Sarasota, is approximately 9.3 months and condo 15 months.