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Sarasota County
Let's take a closer look at each county:
Average Sold Cost - From November 2012 to November 2013 the average sold cost of Sarasota actual estate increased by 6.61%. As you'll see, not as high as Manatee County, but still a strong improvement from last year.
Average Days on the Market - The largest changes from last year is the decrease in days a house remains on the market. In November 2012 the average days on the market was 104. By November 2013 that number dropped to 87 for a decrease of 16.35%.
Number of Active Listings - The area where buyers may even see things improving for them, at least in Sarasota County, is the number of active listings. While stock may appear low, the fact is there has actually been in an increase in the number of active listings from November 2012 to November 2013 of 7.21%.
Average SP to LP Ratio - Another area of improvement for sellers and buyers to note is that the average Sold Cost to List Cost Ratio increased to 95.7%. In other words, the days of low-ball offers is over.
Manatee County
Average Sold Cost - This is the area that Manatee County saw a large increase in from November of last year as the average sold cost increased a whopping 11.04%
Average Days on the Market - Likewise, houses are not staying on the market long at all. The average number of days on the market in Manatee County in November of 2013 was 85 for a decrease of 18.27%... however, keep in mind that the nice deals may be gone in less than a week. I can think of several occasions recently in which homes had multiple offers within the first couple of days on the market.
Average SP to LP Ratio - The average Sold Cost to List Cost Ratio for Manatee County is now up to 96.4%. In other words, buyers require to be willing to pay close to asking cost. In some cases they require to be willing to go above asking cost.
Number of Active Listings - While Sarasota County may have seen in increase in the Active Number of Listings, the opposite was true for Manatee County. Manatee County saw a slight decrease of.35% as stock remains very low.
Clearly, the numbers for both Manatee and Sarasota actual estate look impressive. With plenty of people now holding off until after the holidays it is safe to say that the actual estate market in 2014 is going to be RED HOT!
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