Sarasota County Real Estate Stats (sales, real estate market, 2015)

[SoFLGal]

Historic sales by year in Sarasota County.


Historic count of active listings in Sarasota county



Sales price/list price ratios in Sarasota county


Historic sales price in Sarasota county.

[loves2read]

I am just glad we bought when we did...

[macrodome2]

I was trying to find a similar chart for the stock market. I wanted to see if the big highs and dips corresponded to how the market was doing. Like the big dip between Jun & Jul in 2010.

[Michael Koester]

Awesome information SoFLGal.

[Cardiff by the Sea]

Originally Posted by macrodome2

I was trying to find a similar chart for the stock market. I wanted to see if the big highs and dips corresponded to how the market was doing. Like the big dip between Jun & Jul in 2010.

You have to pick an index. Here is one for the s&p 500. Using the buttons at the top you can pick the time frame you want.

^GSPC Interactive Stock Chart | Yahoo! Inc. Stock - Yahoo! Finance

[macrodome2]

Thanks Cardiff that's really cool. Some of the dates track, but it is probably more coincidence. There was a dip in all 3 indexes in May-Jul in 2010. There was also a downturn in both the market and housing at the end of 2011. I was just wondering if the market was down, the RE followed.

[kiggy]

I think the real estate market tends to track a little later than the stock market, from what I've learned.

[Sunshine Rules]

The fact that the Federal Reserve is signaling there will be interest rate increases soon may have an impact on the real estate markets in the not too far off future -- as when lending rates go up, the $ amount of home the buyer can purchase trends downward to compensate for the higher monthly interest charges. Consumers will also see higher interest rates on credit cards, car loans, etc.

As an example, a buyer pre-qualifies for a $200,000 mortgage when rates are 3.5%, which gives the buyer a monthly payment (without taxes and insurance) of $900. But rates go up to 5% by the time the buyer actually finds a home he/she likes. To keep the monthly payment at $900, the mortgage amount would have to drop to $170,000. So that buyer would have to either come up with an additional $30k to put down up front or find a home that costs $30k less to keep the monthly payment at $900.

It may force some entry level buyers to the sidelines as well. Without the entry level buyers, those home owners that want to sell and move up will have more difficulty doing so, plus they too will face rising interest rates on that replacement home. I read somewhere that the deal breaker interest rate is considered 7%. Nothing I've read so far indicates that experts expect rates to rise to that level any time in the near future.

Still, the potential for higher mortgage rates is worth noting.

Federal Reserve expected to signal the end of zero interest rates | Business | The Guardian

[Cardiff by the Sea]

What I have seen in the past is a mad scramble to buy just before the rates go up when everyone can see it coming.

The rates are likely to go up in 1/4 of 1% increments spaced out over time. Federal Reserve would not want to shock the system.

[craigiri]

I have a theory that certain Florida real estate buying comes in waves related to generations. We are baby boomers - although on the younger end of that generation (61). Our peers and friends are just at the point where they want to be done with the long winters and some are ready to leave their jobs or work less...

I think this is going to drive sales in Western Florida...along with foreigners (UK, Europe, Elsewhere).

Other markets are different. East coast Florida is heavily driven by overseas money...Russian, S. American, etc. All these people park their money (and their butts) there.

I don't see this area exploding in price, but likely in population. Prices, as with anything else, will go up partially based on supply and demand. Inland Empires are almost endless (land available), so it's hard to imagine too much inflation there - but anywhere that is closer in may head up quicker.

IMHO, of course.

Having bought plenty of houses at 11% or the low low rate of 9%, I don't think the difference between 5 and 5.5% is going to make too much difference. Many of the retirees and snowbirds are buying all or mostly cash.