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Platinum Realty - Sarasota1312 Main St.
Sarasota, FL 34236
Phone: (941) 929-9090 ext. 133
Fax: (941) 929-9191Platinum Realty - Osprey
412 S. Tamiami Trail
Osprey, FL 34229
Phone: (941) 929-9090
Fax: (941) 929-9191Platinum Realty - Venice
307 West Venice Avenue
Venice, FL 34285
Phone: (941) 929-9090
Fax: (941) 929-9191Platinum Realty - St. Armands Circle
310 John Ringling Blvd.
Sarasota, FL 34236
Phone: (941) 929-9090
Fax: (941) 929-9191Platinum Realty - Lakewood Ranch
8215 Natures Way
Unit 109
Lakewood Ranch, FL 34202
Venice Florida Real Estate Update and Trends
Venice Single Family
Monday March 12, 2012
Currently there are 302 sales pending in the market overall, leaving 555 listings still for sale. The resulting pending ratio is 35.2% (302 divided by 857). The pending ratio indicates the supply & demand of the market. Specifically, a high ratio means that listings are in demand and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply. Based on this index, current inventory is described as mildly active. The median list price (or asking price) for all properties in this market is $255,000.
A total of 555 contracts have closed in the last 6 months with a median sold price of $150,000. Breaking it down, we notice that the $50K - $100K price range contains the highest number of sold listings.
Alternatively, a total of 292 listings have failed to sell in that same period of time. Listings may fail to sell for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time.
Looking at the chart to the right, you might be wondering why average days on market (DOM) is important.
This is a useful measurement because it can help us to determine whether we are in a buyer's market (indicated by high DOM), or a seller's market (indicated by low DOM). Active listings (properties for sale) have been on the market for a median time of 82 days.
Analysis of sold properties for the last six months reveals a median sold price of $150,000 and 54 days on market.
The recent history of sales can be seen in the two charts below. The median sold price for the last 30 days was $181,250 with a DOM of 49 days.
Since the recent DOM is less than the median DOM for the last 6 months, it is a positive indicator for demand.
It is always important to realize that real estate markets can fluctuate due to many factors, including shifting interest rates, the economy, or seasonal changes.
Analysis of the absorption rate indicates an inventory of 6.5 months based on the last 6 months of sales.
This estimate is often used to determine how long it would take to sell off the current inventory of properties if all conditions remained the same.
The median list-to-sales ratio for this area is 93.8%.
Monday March 12, 2012
Currently there are 302 sales pending in the market overall, leaving 555 listings still for sale. The resulting pending ratio is 35.2% (302 divided by 857). The pending ratio indicates the supply & demand of the market. Specifically, a high ratio means that listings are in demand and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply. Based on this index, current inventory is described as mildly active. The median list price (or asking price) for all properties in this market is $255,000.
A total of 555 contracts have closed in the last 6 months with a median sold price of $150,000. Breaking it down, we notice that the $50K - $100K price range contains the highest number of sold listings.
Alternatively, a total of 292 listings have failed to sell in that same period of time. Listings may fail to sell for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time. Looking at the chart to the right, you might be wondering why average days on market (DOM) is important.
This is a useful measurement because it can help us to determine whether we are in a buyer's market (indicated by high DOM), or a seller's market (indicated by low DOM). Active listings (properties for sale) have been on the market for a median time of 82 days.
Analysis of sold properties for the last six months reveals a median sold price of $150,000 and 54 days on market.
The recent history of sales can be seen in the two charts below. The median sold price for the last 30 days was $181,250 with a DOM of 49 days.
Since the recent DOM is less than the median DOM for the last 6 months, it is a positive indicator for demand.
It is always important to realize that real estate markets can fluctuate due to many factors, including shifting interest rates, the economy, or seasonal changes.
Analysis of the absorption rate indicates an inventory of 6.5 months based on the last 6 months of sales.
This estimate is often used to determine how long it would take to sell off the current inventory of properties if all conditions remained the same.
The median list-to-sales ratio for this area is 93.8%.Powered by RealMarketReports.com