Today the Sarasota Association of Realtors (SAR) released statistics for June 2010 sales.
SAR reported; "Property sales in June 2010 in the Sarasota market once again topped the 700 mark, with 776 total sales - once again the highest of the year and the highest total since December 2005 when 784 properties were sold. The figure of 776 sales topped the May 2010 total of 766, the previous high, and was 27.2 percent higher than June 2009, when only 610 homes and condos sold."
Since I knew these numbers to be significantly different from the MLS data I report every month I decide to place a call to SAR and ask them exactly how they defined "Sarasota market". Was this all sales in Sarasota County, in the city of Sarasota, or everything with a "Sarasota" mailing address? Is a "sale" a closing or contract written?
I was told SAR does not report on sales in any certain geographic area. SAR reports sales made by members of SAR, regardless of the property's location. While I am sure that SAR data is accurate, I have compared non-foreclosure sales to foreclosure sales, for all of Sarasota County, Manatee & Charlotte county sales - both contracts and actual closings).
MLS data shows that non-foreclosure closings increased by 11 properties or 2% from June 2009 compared to June 2010. However, foreclosure closings increased 69% from 246 in 06/09 to 414 properties in June 2010. Full data for closings and contracts in June 2009 and June 2010 is online at http://www.sarasota-foreclosures.com/blog/sar-announces-27-increase-in-sales-is-it-true/share.html