Sarasota-Bradenton Named in Forbes Top Ten Recession Resistent Cities

The feelings of activity and optimisim currently experienced by those in the Real Estate Industry here in Sarasota have recently been validated by both nationwide idices and industry leaders.

 Based on newly released statistics,  the Standard & Poor’s/Case-Shiller Home Price Indices reported home sale prices increasing for the third straight month reflecting price increases in 19 of the 20 Cities tracked for the month of June.  Although the Sarasota-Bradenton Market is not reported in this study,  they too have been showing signs of stability.

 According to data from the Sarasota Association of Realtors, the median price of a single family home in July was $169,900, just slightly lower than the June figure of $175,000. However, the July 2010 figure stood at $155,000, so the median price was up almost 10 percent from last year at this time.

 In addition, the total inventory of available properties dropped again to the lowest level in more than a decade. There were 2,829 single family homes and 1,656 condos on the market, for a total of 4,485 available properties. This is more than a 7 percent drop from the June 2011 total of 4,830, and a 25 percent drop from the July 2010 figure of 6,054.

In the recent Forbes-Zillow Study listing “America’s Recession-Resistant Cities”, the Sarasota –Bradenton area was ranked 7th out of more than 154 communities studied.  Florida fared well overall with three other cities ranking in the top 10, Fort Myers, Port St. Lucie and Destin.

To read the entire article as published in the Sarasota Herald Tribune this week; please click on the link below.  The photo selected by the Herald Tribune to go with this article was actually a Gulf to Bay Estate Home on Casey Key which the Schemmel Property Group successfully marketed.

Forbes-Zillow Study

Posted 9.2.2011

Contact
Joel Schemmel
50 Central Avenue, Suite 110
Sarasota, FL 34236
Phone: (941) 308-6497