Tracking Inventories
Posted Feb 14, 2008 @ 7:56 pm, Viewed by 343 Visitors, Read 351 Times.
Take a look at these charts showing of the number of Sarasota homes and condos for sale, pending and closed. I ran them from May of 2004 to January 2008. This gives you a pretty good perspective of what is happening in the Sarasota, Florida real estate market.
In May of 2004 we had 1904 homes and condos on the market with 819 units closing that month. In stark contrast, in January 2008 we have 7,975 homes and condos for sale with 228 closing that month.
I find these charts useful when I go into a listing presentation. It helps the seller understand where our market is right now. In most instances, it makes the unrealistic sellers think twice about putting their property on the market. Fortunately, for my website I don't have to play the game of taking a lot of overpriced inventory hoping that they will eventually wise up.
If you have a way to chart your the history or inventories and sales it can help with proper pricing and price reductions.
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I am a Realtor with Michael Saunders and Company servicing buyers and sellers in Sarasota, Florida as well as Siesta Key, Lido Key, Longboat Key, Bird Key, Casey Key and Lakewood Ranch. Read More
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Great charts, Mark! Being able to see the change visually like that really makes you understand whats going on in the current market..