Just Sold in The Oaks by sarasota




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There was an interesting article in the Sarasota Herald Tribune today about whether the Sarasota real estate market has hit bottom or not. Take a look a the chart below. This was in the newspaper recently. It shows the fluctuation in the median home price of homes in Sarasota and Bradenton. Notice how it is trading in that band? It has been trading in that band for the last 10 months. It appears that the market is stabilizing. Depending on the price range you look at inventory levels are 12%-15% of the highs. In the luxury segment of the market inventories are 15% off the highs. There is no way to know today if we are at the bottom. We will only know after it is in our rear view mirror.

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Realtors' group says the number of existing homes sold in May gained 2% to an annual rate of nearly 5 million. NEW YORK (CNNMoney.com) -- Sales of existing homes rose slightly more than expected in May as home buyers responded to plummeting home prices, according to an industry trade group. The National Association of Realtors (NAR) said Thursday that the number of existing homes sold during May rose 2% to a seasonally adjusted annual rate of 4.99 million units in May from a level of 4.89 million in April. But sales remain 16% below the 5.93 million-unit pace in May 2007, the report showed. And Thursday's report marks only the second time in 10 months that sales have increased. For the rest of the article go here. There is even...
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Here is an article in the Sarasota Herald Tribune about Shayla Twit joining SKY Sotheby's International Realty.

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