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Nick Herron

Sarasota Association of Realtors Pending Sales Soar in April 2009

05-26-09
Nick Herron

The Sarasota Board of Realtors just released the monthly statistics for April 2009. Pending sales soar to 981 in April 2009: sales top 500 mark for first time in 11 months. This is the highest since the boom years of local real estate in the 2003-2005 periods and topping the previous month by 21 percent. Click here to view the press release and statistical charts.

As for the Sarasota Barrier Islands here are the current statistics taken from Mid Florida Regional MLS as of today:

Bird Key: Single Family Homes: 38 Active Listings, 10 Sale Pending, and 13 Sold This Year

Lido Key: Single Family Homes: 49 Active Listings, 4 Sale Pending, and 11 Sold This Year

Lido Key: Condos: 171 Active Listings, 11 Sale Pending, and 27 Sold This Year

Longboat Key: Single Family Homes: 88 Active Listings, 12 Sale Pending, and 15 Sold This Year

Longboat Key: Condos: 421 Active Listings, 48 Sale Pending, and 59 Sold This Year

Siesta Key: Single Family Homes: 232 Active Listings, 51 Sale Pending, and 45 Sold This Year

Siesta Key: Condos: 419 Active Listings, 33 Sale Pending, and 58 Sold This Year

Casey Key: Single Family Homes: 57 Active Listings, 2 Sale Pending, and 0 Sold This Year

Casey Key: Lots: 11 Active Listings, 1 Sale Pending, and 0 Sold This Year

Manasota Key: Single Family Homes: 45 Active Listings, 1 Sale Pending, and 5 Sold This Year

Manasota Key: Lots: 9 Active Listings, 0 Sale Pending, and 0 Sales This Year

These are all positive signs that the Real Estate market in Sarasota is starting to rebound. As we have been saying: Now Is the Time to Buy! The Herron Group, Nick Herron and Kathleen Herron, with RE/MAX Alliance Group are available to show you, your next home.

Beach, Bay and Back Nine...Live the Dream

Courtyard Concerts on Sarasota Bay

05-08-09
Nick Herron

Last night we attended the last in the Courtyard Concerts series of Big Band Swing music at the John and Mable Ringling Museum in Sarasota on Sarasota Bay. This takes place in the Museum of Art Courtyard every first Thursday February through May.

With us in attendance were several of our past Real Estate clients some for the first time. Some sitting with us and others scattered around in other groups. It is nice to be present when people are discovering more of why they have come to love Sarasota and all it has to offer.

The Courtyard Concerts are fun to attend. You can reserve a chair or bring your own. Bring a picnic dinner; which can be as simple or as elegant as you choose and purchase your wine and beverages there. We had too much food as usual with table cloths and cloth napkins and fancy wine glasses. Everyone enjoyed the Big Band Swing music and several of us even danced a little.

Sarasota has so many cultural and social events which you can choose to participate in all year long.

The Ringling also has "Third Thursday Cocktails at Ca d' Zan" a popular social evening on the third Thursday monthly from 6:00 to 9:00 p.m. This will run through July. This is at the old Ringling mansion over looking Sarasota Bay. You can enjoy the live music and watch the beautiful sunset over Sarasota Bay and the Barrier Islands. There is a variety of food to purchase and a cash bar.

The Herron Group, Nick Herron and Kathleen Herron with RE/MAX Alliance Group would be glad to show you some of Sarasota's waterfront real estate properties on Sarasota Bay or one of Sarasota's Barrier Islands of Casey Key, Manasota Key, Siesta Key, Lido and Longboat Key.

March 2009 sales up 33 percent over February;single family median sale price rebounds

04-16-09
Nick Herron

The Sarasota Association Of Realtors just announced real estate sale Statistics for March 2009.

Here is a copy of their press release dated April 16,2009.

The Sarasota real estate market saw sales rise to the highest level of the year in March 2009, besting the previous month by 33 percent. In addition, the median sales price for single family homes rose after steadily declining since late last year, indicating a potential sign of the bottoming of the local market.

The overall sales level of 481 was the highest since June 2008, and nearly equaled the level of 504 sales reported in March 2008. Of those sales, 353 were single family homes while 128 were condominiums.

The good news also extended to pending sales, which once again rose in March 2009 to 817. The last time pending sales climbed over 800 was in March 2006, when pending sales also were reported at 817. The total of 817 was 21 percent higher than the 679 pending sales reported in March 2008.

According to statistics from the Mid-Florida Regional MLS for members of the Sarasota Association of Realtors®, 645 single family homes and 175 condominiums went under contract in March 2009, compared to only 471 homes and 208 condos in March 2008.

Pending sales have now exceeded the 500 level for the 15th consecutive month, and the statistic bodes well for the next two or three months, when many of these pendings will become closed sales. Pending sales reflect contracts executed by buyers and sellers during the month. The report continues to reflect a steady, strong pattern, and indicates buyers are more active in the Sarasota market even in the face of difficult economic times.

"We believe the current climate of historically low interest rates, major incentives for first-time homebuyers, and the many other government programs designed to stabilize the economy and the housing industry is all having a very positive impact," said 2009 SAR President Bill Geller. "Every downturn is followed by an upturn - we know this to be true historically. We've been through a difficult time in the real estate industry, and hopefully we are seeing the beginnings of a new, dynamic era."

The recently enacted first-time homebuyers' tax credit of $8,000 will likely continue to boost sales this year, Geller said. Those who meet eligibility requirements and purchase a home this year prior to Dec. 1 are eligible for a tax credit of up to $8,000, and unlike the 2008 tax credit, this one does not have to be repaid.

The median sale price for single family homes rose to $152,125 in March 2009 from $142,000 in February 2009 - a 7 percent increase. The median sales price for condominiums fell to $166,750 in March 2009 from $198,000 in February 2009, for a 15 percent drop.

The median price of all single family homes sold in the last 12 months was $217,000, compared to a median of $299,900 for the 12 months ending in March 2008. For condominiums sold in the last 12 months, the median sales price was $256,000, compared to last year's figure of $295,000.

Another important market tracker - the absorption rate of properties on the market - continues to track lower than last year at this time for both single family homes and condominiums, as inventories have declined. Absorption rate is the number of months it would take to sell the entire remaining listed inventory in a particular category, based upon the sales for that particular month.

For March 2009, the absorption rate for single family homes stood at 17.1 months, compared to 24.1 months the previous month and 25.1 months in March 2008. For condominiums, the absorption rate was at 21.2 months, lower than the 28.5 months in the previous month, and much lower than the 34.1 months reported in March 2008.

*A 12-month rolling median price is not as susceptible to the volatility that can occur within any particular month, which sometimes results in drastic statistical swings up or down from one month to the next.

Click HERE for a PDF of the press release and two pages of statistical charts.


Sarasota Association of REALTORS®

Sarasota Real Estate the Time to Buy

03-28-09
Nick Herron

Sarasota, FL Real Estate stats for February 2009

Mid-FL Regional Board released good news for the real estate market in Sarasota, FL. pending sales highest in three years. Under contract according to the Sarasota MLS 171 condos and 611 single family homes. Almost 100 more pending sales than in January 2009.

2009 Sarasota Association of Realtors president, Bill Geller said "Buyers are becoming even more aware of the many opportunities in the Sarasota market and are making offers and executing contracts. Local Realtors are continuing to educate the public on our market and this excellent chance to purchase a great home at a very attractive price, with interest rates at historic lows."

Plus the new tax credit for first time home buyers.

Has there been a better time to buy?????

With affordable prices, could the time to purchase in the Sarasota real estate market be right now!!

YES!!!

The Herron Group, Nick Herron, RE/MAX Alliance Group, 941-350-5035

Beach, Bay or Back Nine...Live the Dream

Sarasota’s Chillounge Night—what a gorgeous night!

03-23-09
Nick Herron

The Chillounge Night party planners couldn't have been more pleased with Saturday night's balmy, breezy weather-what an incredible night to be enjoying the music and the magic of Sarasota's Palm Avenue. We arrived at this 2nd annual outdoor party before sunset-and a marvelous Sarasota sunset it was-and can't rave enough about total transformation we found on the street. (Brilliant idea-turning the street into an outdoor lounge complete with classy couches and comfortable seating areas.... "Magic" seems to be the only good word to describe it.)

At the VIP lounge, we enjoyed chatting with old friends and catching up. Everyone seemed to be enjoying themselves; it was a wonderful way to forget about the challenges of the times and just have a good time. We ran into several clients and colleagues, compared notes and shared memories. After 20 years of buying and selling Casey Key real estate, we've quite a few memories to share! (And not just Casey Key, memories either...we've enjoyed showing all of the Sarasota barrier islands to visitors and friends alike.)

The street was so full of energy...and the food and drinks were unsurpassed. Café L ‘Europe is always delicious, and sipping cocktails to the beat of the samba parade-it felt like we'd left the country for some exotic South American locale. Good people, good times, and a good cause; remember, this was all to benefit the United Cerebral Palsy of Sarasota-Manatee.

Where else in the country can you spend the first weekend in spring at an outdoor street party, dancing under the palm trees? Sarasota, Florida, where the blend of people, music, and arts is like none other.

With 20 years in the Sarasota real estate business, The Herron Group, RE/MAX Alliance Group is perfectly suited to guide you to just the right address among Sarasota's prestigious waterfront homes and luxury golf course communities. Call 800-789-6580 or email Nick Herron with The Herron Group, RE/MAX Alliance Group.

We also ran into several people who have relocated to Downtown Sarasota and now live close to the action of downtown. There has been a big re-birth of Downtown Sarasota with all the new condos close to the center of the action (restaurants, bars, stores & shops).

Beach, Bay or Back Nine...Live the Dream or one of the Downtown Condos at the Ritz-Carlton or Ritz-Carlton Tower, 1350 Main, 100 Central, or Orange Blossom Tower to mention a few.