Sarasota Home Inventories

The chart above are Sarasota home inventory figures for the last three years. These are only single family homes and in Sarasota county. As you can see inventory levels have declined over the last few months. The number of homes peaked out in February of 2007 and have held pretty steady until March of this year.

Banks are taking back many homes through foreclosure. They cannot just sit on them so they are getting more aggressive in their pricing. They must do this to get the buyers off the fence. This in conjunction with other home sellers either getting more realistic in their pricing or simply just taking their properties off the market have led to the decline in inventories. It seems like we are on our way to normalcy. The question is how long will it take to get there.