Pending sales in the Sarasota real estate market once again rose in February 2009, hitting 782 – the highest level since April 2006, a three year period. According to statistics from the Mid-Florida Regional MLS for members of the Sarasota Association of Realtors®, 611 single family homes and 171 condominiums were reported under contract in February, almost 100 more than the 683 pending sales reported in January 2009, and 19 percent higher than the 654 pendings reported in February 2008.
Reported by Sarasota Association of Realtors® March 23, 2009
Overall, there were 354 sales closed in February, compared to 319 in January, for a 10 percent increase. The figure was lower than February 2008, when 418 properties changed hands. The breakdown was 260 single family homes sold, and 94 condominiums sold.
The recently enacted first-time homebuyers’ tax credit of $8,000 should help spur sales to higher levels, Geller noted. Those who meet eligibility requirements and purchase a home this year prior to Dec. 1 are eligible for a tax credit of up to $8,000, and unlike the 2008 tax credit, this one does not have to be repaid. This credit, combined with historically low interest rates should help encourage more homes sales.
