Category Archives: Lakewood Ranch Real Estate Statistics

Sarasota Real Estate – New Contracts for Week 8 2018

Another bang up week compared to last year. The quarterly results remain high because of new construction closings on a couple of large buildings in Downtown Sarasota during in the final weeks of December.

New real estate contracts for Sarasota and surrounding areas as of February 17, 2018

New real estate contracts for Sarasota and surrounding areas as of February 17, 2018

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Sarasota Real Estate – New Sale Contracts Week 6 2018

Week 6 was a comparatively slow week everywhere except Lakewood Ranch and Bradenton (single family).

New real estate contracts for Sarasota and surrounding areas as of February 10, 2018

New real estate contracts for Sarasota and surrounding areas as of February 10, 2018

click here to download pdf

 

Sarasota Real Estate – New Sales Contracts Week 2 2018

Manatee County exploded last week with Lakewood Ranch up 71%, West Bradenton Condos up 92% and West Bradenton Single Family homes up 113%.

 

New Purchase and sale agreements signed by week, month, and quarter for 2018

New Purchase and sale agreements signed by week, month, and quarter for 2018

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New Sarasota Real Estate Contracts Week 49

This post summarizes new real estate contracts for certain areas within Sarasota and Manatee Counties for the week indicated. New Contracts (or Pending Sales) are the best measure of current demand.

Nothing ever exciting happens this close to year end. It is always a slow, below average week for activity. This week was really the same as last year if you deduct the 10 closings in the Vue that were booked this week (See the Nov. 4 Pending Report post on why the contracts were really deals from prior months).

Sarasota Real Estate Contracts -Week 49 2017

Sarasota Real Estate Contracts -Week 49 2017

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Pending Report for Week Ended 11/25/2017

Another huge week for contracts around the area.

Activity in the past 4 weeks accounts for all of the increase in contracts this quarter over last year – more than making up for any lost deals during the first 2 weeks of the period that occurred due to hurricane Irma.  Every area except west Bradenton condos (down 4%) is up double digits over last year for the most recent 13 week period.

 

Contracts signed by zip code for Sarasota/Bradenton during week ended 11/25/2017

Pending Report 11/25/2017

Click here to download report as a pdf

Pending Report for 11/11/2017

Generally a slow week compared to last year. The contracts reported in Downtown Sarasota last week probably overstate demand by 50% as 9 of the 18 new contracts were recorded in the Vue. Most likely these contracts were actually executed much earlier. See my notes from the 11/4/2017 report for an explanation. The same issue is affecting both the 4 week and 13 week figures.

Click to download as a pdf

Pending Report as of August 12, 2017

Pending sale volume was mostly up last week compared to the same week last year with every area showing increased activity except condos on Longboat and single family homes in west Bradenton.

The past 4 weeks were mostly flat with last year with single family home sales in west Bradenton being the only significant exception. The problem here is lack of inventory. The level of unsold single family homes in west Bradenton dropped below 200 for only the 3rd time 3 years.

For the past 13 weeks every area showed increased activity other than the aforementioned west Bradenton market. Even areas with large amounts of new construction are having strong existing home sales growth. In downtown Sarasota, existing home sales were up 19% over last year while Lakewood Ranch was up 16%

Pending sales report for Sarasota, Bradenton, Lonboat Key

Pending sales as of 08/12/2017
Click image to enlarge. Click Here to download as pdf

 

Downtown Sarasota Pending Sales Up 40% Last 13 Weeks

Downtown Sarasota pending condominium sales are up 40% over last year for the past 13 week period. Existing home sales accounted for most of the increase, up some 36% over last year. New constructions sales for the past 13 week period were less than 10% of total sales

Longboat Key pending condo sales were up 13% over the past 4 weeks and 26% over the past 13 weels. Pending sales were down most of the season and worked their way back to even with last year by the end of April. Most of the increase came during June.

In the Lakewood Ranch area (not all homes in the 2 zip code area are in Lakewood Ranch) pending home sales were up 14% over last year for the past 13 week period. New home sales were flat  during this period so the entire increase came from resales. New construction pending sales are a much larger component of total sales than in Downtown Sarasota. For both 2017 and 2016, the last 13 weeks had 62 pending new construction sales or about a quarter of all home sales in the area.

 

Pending Report as of June 24, 2017

A strong May and June is making for a huge second quarter.

The West Bradenton condo market was down for the week and only up 1% for the past 13 weeks largely due to the lack of inventory. May ended with just 257 condominiums on the market, not world record but low none the less. Worse, however was the lack of new listings during May. Only 51 condos were listed during May in West Bradenton, the least amount in any month over the past 10 years.

The big quarter in Downtown Sarasota is being powered by resales. While new construction pendings were up big (10 this year vs only 1 LY), existing home sales were up 35% with huge increases in the over $1M price points.

Click here to download pdf of report.

PENDING REPORT JUNE 10, 2017

Pending sales (new contracts executed) are the best indication of current demand. The pending report provides a current week, 4-week, and 13-week view of this important statistic across 6 markets by price point range. The biggest difference between pendings and actual sales is timing. The contract or pending date is the date the contract was executed. The contract is not considered a “Sale” until it closes, on average, about 30 days after the contract date. Another difference is that not all pending sales close.

 

Pendings for the week ended June 10, 2017

Pendings (New Contracts) for Lonboat Key, Downtown Sarasota, Lakewood Ranch, and West Bradenton ~ June 10, 2017

Pendings (New Contracts) for Lonboat Key, Downtown Sarasota, Lakewood Ranch, and West Bradenton ~ June 10, 2017

This was another solid week, compared to last year, in nearly every area followed. Bad weather must have sent people shopping, rather than beaching.

The “over a million” price point in downtown continues to grow. For the past 13 weeks, pendings with prices over a million dollars amounted to 20% of the total. Last year, they accounted for only 16% of all pendings. For the past 4 weeks, the top of the market listings has accounted for 27% of all pendings Downtown, compared with only 8% last year.

Next Quarter

If you have your home on the market or are thinking about putting it on the market, it’s always interesting to look ahead at what the next few weeks may bring.  The consensus is that the third quarter is slow, but that’s not the case everywhere.

 

The chart shows last year’s percentage of pending sales by quarter.  There is surprisingly little seasonality in any of the markets, other than Longboat Key.  Even the Longboat Key condo market is not horrible. Last year, 66 condos went to contract in the 3rd quarter, compared to 91 in the 2nd quarter. That works out to about 22 per month in the third quarter, compared to 30 per month in the second quarter.  Next quarter should provide plenty of opportunity for a well- priced listing to find a buyer.