Bradenton Florida Real Estate Market Summary Report Released January 2008

Here is this month's summary of the real estate market in Bradenton, Florida. Again, I am happy to report some good news. It seems that the Bradenton - Sarasota market it doing better than other markets across the state.

Manatee County Florida
Market Conditions Report Summary
December 2007

Bradenton Florida Real Estate

Statistics for Single Family Homes

Total Listings: 4131 - Up 0.81% over last year. DOWN 5.12% from last month

Total Solds: 163 - Down 7.39% year to year, and Up 1.24% from last month .

Median Sales Price: $ 244,306. Down from $263,000 in Dec. Down 11.16% from last year and Down 30.18% from 2005 high

Absorption Rate: 25.3 months; down from 33.2 last month. This is how long it would take to sell all of today's listings at the rate homes are selling and if no other homes were listed. Last year: 23.3 months.

Average Days on Market: 115. Up from 106 in Dec. - Up 35.29% over last year

Statistics for Condos

Down: Total Condo Listings: 1927 - DOWN 0.87% over last year. DOWN 3.75% from last month

Total Solds: 58 - Up 13.73% year to year and Up 1.75% over last month.

Median Sales Price: $200,000 Up from $180,000 in Dec.- DOWN 16.67% from a year ago. Down 15.79% from high of 2005

Absorption Rate: 33.2 months. Last year: 38.1 months.

Average Days on Market: 109 Down from 140 in Dec. - Up 17.2% over last year

Yep, We May Be in Recovery (Ever so slightly)

Again, I am happy to report that the dark clouds may be parting in our Bradenton real estate market. There seems to be a trend of more good news than bad news. Could 2008 begin the recovery in our market? It appears hopeful.

• Inventory is going down. That is significant.
• Sales are going up. Another signficant number.
• Days on Market. It's still taking longer to sell.
• Prices seem to be stabilizing.

(Copyright 2008 by Dan Forbes, All Rights Reserved)