Absorption Rate (Sarasota, Bradenton, Venice: lease, assessors, evictions)

[ZaraZoteBuccaneer]

I still agree with Movin-on-Up, no matter how you explain it SoFLGal, you've got "superpowers"!

[SoFLGal]

Hi All!

I had a newpaper call me and ask if I could update some stats-so here goes. I'll try to add some more later on tonight if I have the time:

Port Charlotte:
Port Charlotte’s average listing price for the last 6 months $118,977-Average selling price for the last six months is $109,563:
Average list price June 16-July 16 was $119,209 and the average selling price was $111,331. Average size home was 1502 sq ft under air.
Average list price May 16-June 16 was $127,120 and the average selling price was $121,690. Average size home selling is 1561 sq ft under air.
Average list price Apr 16-May 16 was $110,458 and the average selling price was $103,124. Average size home selling was 1502 under air.
Average list price Mar 16-Apr 16 was $114,875 and average selling price was $103,327. Average size home selling was 1463 sq ft under air.
Average list price Feb 16-Mar 16 was $117,347 and average selling price was $105,697. Average size home selling was 1633 sq ft under air.
Average list price Jan 16-Feb 16 was $124,853 and average selling price was $112,206. Average size home selling was 1573 sq ft under air.

Punta Gorda (including Deep Creek):
Punta Gorda’s average listing price for the last 6 months $199,672-Average selling price for the last six months is $181,292:
Average list price June 16-July 16 was $205,494 and the average selling price was $186,964. Average size home was 1768 sq ft under air.
Average list price May 16-June 16 was $207,641 and the average selling price was $188,634. Average size home selling is 1757 sq ft under air.
Average list price Apr 16-May 16 was $188,990 and the average selling price was $172,271. Average size home selling was 1676 under air.
Average list price Mar 16-Apr 16 was $164,356 and average selling price was $149,375. Average size home selling was 1588 sq ft under air.
Average list price Feb 16-Mar 16 was $210,463 and average selling price was $191,601. Average size home selling was 1816 sq ft under air.
Average list price Jan 16-Feb 16 was $221,097 and average selling price was $198,907. Average size home selling was 1804 sq ft under air.
North Port:
North Port’s average listing price for the last 6 months $118,977-Average selling price for the last six months is $109,563:
Average list price June 16-July 16 was $107,168 and the average selling price was $101,888. Average size home was 1616 sq ft under air.
Average list price May 16-June 16 was $113,354 and the average selling price was $107,128. Average size home was 1651 sq ft under air.
Average list price Apr 16-May 16 was $111,080 and the average selling price was $103,651. Average size home selling was 1588 under air.
Average list price Mar 16-Apr 16 was $108,114 and average selling price was $102,362. Average size home selling was 1566 sq ft under air.
Average list price Feb 16-Mar 16 was $102,399 and average selling price was $97,125. Average size home selling was 1572 sq ft under air.
Average list price Jan 16-Feb 16 was $111,387 and average selling price was $105,740. Average size home selling was 1595 sq ft under air.
Sarasota:
Sarasota’s average listing price for the last 6 months $270,412-Average selling price for the last six months is $241,961:
Average list price June 16-July 16 was $292,372 and the average selling price was $266,111. Average size home was 1708 sq ft under air.
Average list price May 16-June 16 was $294,229 and the average selling price was $267,475. Average size home selling is 1783 sq ft under air.
Average list price Apr 16-May 16 was $271,561 and the average selling price was $239,740. Average size home selling was 1664 under air.
Average list price Mar 16-Apr 16 was $237,319 and average selling price was $212,662. Average size home selling was 1640 sq ft under air.
Average list price Feb 16-Mar 16 was $271,561 and average selling price was $239,740. Average size home selling was 1664 sq ft under air.
Average list price Jan 16-Feb 16 was $255,434 and average selling price was $226,038. Average size home selling was 1626 sq ft under air.
The stats below are on single family homes only
North Port
# of listings in North Port= 615 active listings
# of listings sold from June-16-July 16: 125
# of listings sold from May 16-June 16: 147
# of listings sold from Apr 16-May 16: 150
# of listings sold from Mar 16-Apr 16: 156
# of listings sold from Feb 16-Mar 16: 152
# of listings sold from Jan 16-Feb 16: 130
860 homes sold in the last six months in NP. Average number of homes sold per month over the last 6 months in NP: 143 homes
#sold (143 homes) X 12 (months) = 1716
divide 1716 by 52 weeks= 33 units per week
If 33 units sell each week divide that number into the number of active listings 33 divided by 663 = 19 weeks is the absorption rate or 4 ½ months of inventory in North Port.

Port Charlotte
# of listings in Port Charlotte= 1087 active listings
# of listings sold from June-16-July 16: 109
# of listings sold from May 16-June 16: 163
# of listings sold from Apr 16-May 16: 204
# of listings sold from Mar 16-Apr 16: 168
# of listings sold from Feb 16-Mar 16: 142
# of listings sold from Jan 16-Feb 16: 120
906 homes sold in the last six months in PC. Average number of homes sold per month over the last 6 months in PC: 151 homes
#sold (151 homes) X 12 (months) = 1812
divide 1812 by 52 weeks= 35 units per week
If 35 units sell each week divide that number into the number of active listings 35 divided by 1087 = 31 weeks is the absorption rate or about 8 months worth of inventory in Port Charlotte.

Punta Gorda (not including Deep Creek)
# of listings in Punta Gorda= 366 active listings
# of listings sold from June-16-July 16: 70
# of listings sold from May 16-June 16: 68
# of listings sold from Apr 16-May 16: 61
# of listings sold from Mar 16-Apr 16: 60
# of listings sold from Feb 16-Mar 16: 70
# of listings sold from Jan 16-Feb 16: 37
366 homes sold in the last six months in PG. Average number of homes sold per month over the last 6 months in PG: 61 homes
#sold (61 homes) X 12 (months) = 732
divide 732 by 52 weeks= 14 units per week
If 14 units sell each week divide that number into the number of active listings 14 divided by 732 = 52 weeks of inventory or a years worth of inventory in Punta Gorda.

Venice
# of listings in Venice= 691 active listings
# of listings sold from June-16-July 16: 89
# of listings sold from May 16-June 16: 93
# of listings sold from Apr 16-May 16: 92
# of listings sold from Mar 16-Apr 16: 87
# of listings sold from Feb 16-Mar 16: 60
# of listings sold from Jan 16-Feb 16: 61
482 homes sold in the last six months in Venice. Average number of homes sold per month over the last 6 months in Venice: 80 homes
#sold (80 homes) X 12 (months) = 960
divide 960 by 52 weeks= 19 units per week
If 19 units sell each week divide that number into the number of active listings 19 divided by 960 = 51 weeks of inventory or a little less than a years worth of inventory in Venice.

Sarasota
# of listings in Sarasota= 2154 active listings
# of listings sold from June-16-July 16: 221
# of listings sold from May 16-June 16: 274
# of listings sold from Apr 16-May 16: 267
# of listings sold from Mar 16-Apr 16: 253
# of listings sold from Feb 16-Mar 16: 199
# of listings sold from Jan 16-Feb 16: 186
1400 homes sold in the last six months in Sarasota. Average number of homes sold per month over the last 6 months in Sarasota: 233 homes
#sold (233 homes) X 12 (months) = 2796
divide 2796 by 52 weeks= 54 units per week
If 54 units sell each week divide that number into the number of active listings 54 divided by 2796 = 54 weeks of inventory or a little more than a years worth of inventory in Sarasota.

Osprey
# of listings in Osprey= 170 active listings
# of listings sold from June-16-July 16: 16
# of listings sold from May 16-June 16: 10
# of listings sold from Apr 16-May 16: 13
# of listings sold from Mar 16-Apr 16: 7
# of listings sold from Feb 16-Mar 16: 12
# of listings sold from Jan 16-Feb 16: 11
69 homes sold in the last six months in Osprey. Average number of homes sold per month over the last 6 months in Osprey: 12 homes
#sold (12 homes) X 12 (months) = 144
divide 144 by 52 weeks= 2.8 units per week
If 2.8 units sell each week divide that number into the number of active listings 2.8 divided by 144 = 52 weeks of inventory or a years worth of inventory in Osprey.

Englewood
# of listings in Englewood= 266 active listings
# of listings sold from June-16-July 16: 36
# of listings sold from May 16-June 16: 58
# of listings sold from Apr 16-May 16: 44
# of listings sold from Mar 16-Apr 16: 50
# of listings sold from Feb 16-Mar 16: 48
# of listings sold from Jan 16-Feb 16: 30
266 homes sold in the last six months in Englewood. Average number of homes sold per month over the last 6 months in Englewood: 44 homes
#sold (44 homes) X 12 (months) = 528
divide 528 by 52 weeks= 10 units per week
If 10 units sell each week divide that number into the number of active listings 10 divided by 528 = 53 weeks of inventory or a little more than a years worth of inventory in Englewood.
[SIZE=3] [/SIZE]

[Big House]

Originally Posted by SoFLGal

Hi All!

I had a newpaper call me and ask if I could update some stats-so here goes. I'll try to add some more later on tonight if I have the time:


[SIZE=3] [/SIZE]

I deleted all your stats, so I could reply under your post. You have a wealth of information here, it is easy for one to go back and do some comparisons and you can see that houses are really still moving. No wonder the newspapers call you, you are "THE REAL ESTATE SALES LADY!"

Great Job! You get Three ATTA-GIRLS!!! for all you hard work! Please Note I gave you a couple extra exclamation points too!

[SoFLGal]

Here's the article that was written. They used some of my stats on this thread and also mentioned City-Data!

Residential real estate climate brightens | charlotte.floridaweekly.com | Punta Gorda / Port Charlotte Florida Weekly

[222muchcoffee]

Where did you find the sucker from Texas flying in to look at one property? I would love to play poker with a dummy like that. Nice article!

[SoFLGal]

Originally Posted by 222muchcoffee

Where did you find the sucker from Texas flying in to look at one property? I would love to play poker with a dummy like that. Nice article!

Thanks, I'm sure you would have a good chance at winning.

[SoFLGal]

Here's some updated stats

North Port
# of listings in North Port= 610 active listings
# of listings sold from July 13-August 13: 125
# of listings sold from June 13-July 13: 133
# of listings sold from May 13-June 13: 156
# of listings sold from Apr 13-May 13: 172
# of listings sold from Mar 13-Apr 13: 167
# of listings sold from Feb 13-Mar 13: 182
935 homes sold in the last six months in NP. Average number of homes sold per month over the last 6 months in NP: 156 homes
#sold (156 homes) X 12 (months) = 1872
divide 1872 by 52 weeks= 36 units per week
If 36 units sell each week divide that number into the number of active listings 36 divided by 610 = 17 weeks is the absorption rate or a little over 4 months of inventory in North Port.

Port Charlotte
# of listings in Port Charlotte= 1033 active listings
# of listings sold from July 13-Aug 13: 140
# of listings sold from June 13-July 13: 109
# of listings sold from May 13-June 13: 200
# of listings sold from Apr 13-May 13: 183
# of listings sold from Mar 13-Apr 13: 163
# of listings sold from Feb 13-Mar 13: 148
943 homes sold in the last six months in PC. Average number of homes sold per month over the last 6 months in PC: 157 homes
#sold (157 homes) X 12 (months) = 1884
divide 1884 by 52 weeks= 36 units per week
If 36 units sell each week divide that number into the number of active listings 36 divided by 1884 = 52 weeks is the absorption rate or about 1 years worth of inventory in Port Charlotte.

Sarasota
# of listings in Sarasota= 2072 active listings
# of listings sold from July 13-Aug 13: 238
# of listings sold from June-13-July 13: 236
# of listings sold from May 13-June 13: 288
# of listings sold from Apr 13-May 13: 261
# of listings sold from Mar 13-Apr 13: 228
# of listings sold from Feb 13-Mar 13: 206
1457 homes sold in the last six months in Sarasota. Average number of homes sold per month over the last 6 months in Sarasota: 243 homes
#sold (243 homes) X 12 (months) = 2916
divide 2916 by 52 weeks= 56 units per week
If 56 units sell each week divide that number into the number of active listings 56 divided by 2916 = 52 weeks of inventory or a years worth of inventory in Sarasota.

[ZaraZoteBuccaneer]

Getting better, at least a little bit for the market, wow - what happened to Port Charlotte? 20 more weeks of "inventory" in just over 3 weeks? Is that true? It must have really slowed down in that particular area.

[222muchcoffee]

Thanks for the numbers!

FYI--For a big picture view: I was watching CNBC today, and they (quoting Realtytrac report) said the nation reported a 36 % jump in foreclosures year over year for July. This was a record amount and higher than expected report.

Yesterday, the nation had upbeat housing reports (especially the favorable comments from Toll Brothers). In my opinion, the national market looks like we've hit the bottom and edging upwards, but we won't see a drastic spike in sales or appreciation anytime soon. Of course, so much depends on the specific market you are in.

[SoFLGal]

Originally Posted by ZaraZoteBuccaneer

Getting better, at least a little bit for the market, wow - what happened to Port Charlotte? 20 more weeks of "inventory" in just over 3 weeks? Is that true? It must have really slowed down in that particular area.

Yeah, someone needs to check my math there. I re did the numbers like five times cause I kept thinking I did something wrong. The actives and sold aren't that much different than a few weeks ago so I can't figure out the drastic change.