Pending Sarasota Real Estate Sales Rise 10 Percent October 2010

Although overall Sarasota real estate sales dropped by 11 percent in October, compared to September 2010 and also 15 percent from last year in October, pending sales rose 10 percent over this time last year.  The drop in Sarasota real estate is anticipated to be from "a slowdown in foreclosures prompted by lender concerns over faulty paperwork."  A rise n the pending sales figure "signaling more closing in future months as the winter season begins in coast Florida.


The Sarasota real estate market over the last four month seems to be trending to stabilization of the market.
Eric Shumway, 2010 SAR President pointed out that "as we enter the traditionally busier season, the local real estate market appears to be on solid ground." "Now that the mid-term election is behind us, and the foreclosure freeze seems to have thawed, there is certainly reason for optimism. Sales and showing activity have been consistent, and even with 50 percent of the market dominated by distressed sales, the median prices are also relatively steady."

Contact the John Allen Team at 941-544-6467 if you are interested in purchasing Sarasota, Casey Key, Siesta Key, Bird Key, Lido Key or Longboat Key real estate.  We have agents who specialize in luxury waterfront homes as well as golf course properties in Sarasota's coastal paradise.