April 2010 Sarasota Foreclosure Report
Posted by Sarasota Foreclosures.com on Wednesday, May 12th, 2010 at 10:57am.  |
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New Sarasota Foreclosures remain under 500
Sarasota's property market appears to be stabilizing after 4 years of decline. Home prices for Sarasota-Bradenton and Charlotte County-North Port are up 8% compared to last year's first quarter. Although prices continue to drop, the rate of property deflation has decreased, which should be a good sign for things to come.
Home sales in the state of Florida are also up from last year. Statewide, 38,846 homes were sold, which is an increase of 24% over last year's first quarter sales. The National Association of Realtors' reports a national price increase in 40% of cities from the fourth quarter. Although Sarasota's prices are actually slightly lower in this quarter than last year's fourth, this paints an overall picture that many investors have been waiting to see. The sale of foreclosures and distressed properties made up 36% of national sales in the fourth quarter. Sarasota's foreclosure sales numbers do not vary much, making up 33% of total sales for April 2010.
One of the biggest indicators of Sarasota's market having reached the bottom is the fact that the number of foreclosures in Sarasota County was 442. This makes April the second month in a row that foreclosures have been below 500, a number that had not occurred for over 18 months prior. This information all seems indicative of a local and national stabilization of the real estate market. Of course, true growth will depend upon the stabilization of the economy and credit markets.
150 Short Sales closing in April 2010 a 231% increase from 65 in April 2009
318 Certificate of Title in April 2010 a 321% increase from 99 COT in April 2009
442 LP in April 2010 a 51% decrease from 862 LP in April 2009
917 Sales in April 2010 a 7% increase from 856 sales in April 2009
Some numbers for April 2010:
May 3 2010 | Bank Owned | Short Sales | All Foreclosures | All Listings |
| |
Active | 335 (3.5%) | 1090 (11.8%) | 1,425 (16%) | 9,225 |
| |
Pending | 309 (10.7%) | 1,476 (52%) | 1,785 (62%) | 2,883 |
| |
Sold | Bank Owned | Short Sales | All Foreclosures | All Sales | Certificate | Lis Pendis |
April 2010 | 152(16.6%) | 150(16.3%) | 302(33%) | 917 | 318 | 442 |
March 2010 | 170(17%) | 181(18%) | 351(36%) | 983 | 366 | 456 |
| Feb. 2010 | 150(22%) | 142(21%) | 292 (44%) | 669 | 257 | 788 |
| Jan. 2010 | 110(15.7%) | 121(17.3%) | 231(33%) | 699 | 197 | 599 |
Dec. 2009 | 123 (15.9%) | 158 (20.5%) | 281 (36.5%) | 770 | 535 | 725 |
Nov. 2009 | 96 (14.1%) | 149 (21.9%) | 245 (36%) | 679 | 169 | 722 |
Oct. 2009 | 122 (18.2%) | 136 (20.2%) | 258 (38.5%) | 670 | 150 | 714 |
Sept. 2009 | 128 (19%) | 150 (22.2%) | 278 (41.2%) | 674 | 194 | 693 |
August 2009 | 75 (13%) | 117 (20.3%) | 192 (33.4%) | 574 | 139 | 694 |
July 2009 | 111 (14.1%) | 118 (15%) | 229 (29.1%) | 786 | 101 | 933 |
June 2009 | 147 (18%) | 98 (12%) | 215 (26.3%) | 816 | 134 | 670 |
May 2009 | 201(25.3%) | 85 (10.7%) | 286 (36%) | 796 | 68 | 766 |
April 2009 | 242 (28.3%) | 65 (7.6%) | 307 (35.9%) | 856 | 99 | 862 |
March 2009 | 221 (29%) | 53 (7%) | 274 (36%) | 762 | 99 | 875 |
Feb. 2009 | 196 (32.2%) | 36 (5.9%) | 232 (38.1%) | 609 | 180 | 760 |
Jan. 2009 | 187 (36.2%) | 30 (5.8%) | 217 (42%) | 517 | 219 | 772 |
Dec. 2008 | 198 (28.5%) | 30 (4.3%) | 228 (32.8%) | 695 | 250 | 638 |
Nov. 2008 | 160 (32.8%) | 20 (4.1%) | 180 (36.9%) | 488 | 194 | 673 |
Oct. 2008 | 173 (29.6%) | 17 (2.9%) | 190 (32.5%) | 585 | 276 | 925 |
Adam Robinson, Broker
SarasotaForeclosures.com Inc.
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