Pending Sarasota Real Estate sales surge in January 2011
The Sarasota real estate market continues to recover as pending sales "experienced a major climb in January 2011, from 789 in December 2010 to 1,013 last month for a 28 percent increase. This statistic is a strong indicator for the next two or three months of sales, as pending sales reflect current buyer activity. It was the first time pendings have exceeded the 1,000 mark since April of 2010, when the looming homebuyer tax credit expiration date was fueling sales activity."
January's overall sales totaled 537, opposed to last year's figure of 506 sales although somewhat "disappointing compared to the 681 sales in December. January is traditionally a slower sales month due to the holidays, and sales have dropped from December to January over the past several years. Last year, sales dipped in January but surged strongly in February, March and April. The dramatic rise in the pending sales last month, coupled with positive word of mouth reports from SAR members, predicts a potential repeat of last year, even without a homebuyer tax credit."
SAR President Michael Bruno said "the market is very lively right now."
