Sarasota, Florida Inventory Levels

Like other assets, the price of real estate is determined by supply and demand. One way to determine the health of a real estate market is to track inventory levels of properties for sale. If the number of properties for sale is high and demand is low there will be downward pressure on prices. On the flipside, if there are few properties for sale and strong demand prices will rise. It is the basic law of supply and demand. Home sellers are quick to adjust to a rising market by establishing a higher sales price but very reluctant to admit to a declining market and lower their prices.

Here are inventory levels for the Sarasota, Florida real estate market. I track homes and condos for sale in Sarasota, Longboat Key, Lido Key, Casey Key, Bird Key, Siesta Key, Osprey, Nokomis and Lakewood Ranch.

June 7, 2007
5,023 single family homes
3,694 condominiums

February 15, 2007
5,088 single family homes
3,771 condominiums

January 24, 2007
4,919 single family homes
3,659 condominiums

January 1, 2007
4,433 single family homes
3,305 condominiums

December 1, 2006
4,781 single family homes
3,455 condominiums

October 11, 2006
4,445 single family homes
3,147 condominiums

I looks like inventories have leveled off. Hopefully, we will see a decline to move us into a flatter market. Sarasota, Florida real estate prices on an average have declined about 20% since the summer of 2005. To keep up to date with our inventory levels take a look at my Sarasota real estate blog.