Is the Sarasota Real Estate Market Recovering?

Oct. 16, 2007 - John Tuccillo

On Oct. 16, during a panel discussion concerning the local market, sponsored by SAR and the Time2Buy Sarasota campaign, noted national economist John Tuccillo said all signs are pointing to the first phase of a market recovery now in progress in Sarasota.

The cyclical real estate industry often sees the start of a new phase reflected in:
   1) lower numbers of listings -- which is evident in the Sarasota market. Tuccillo noted this is normally followed by the second phase
   2) a reduction in the number of days on market, and then the third phase,
   3) a rise in the ratio of sale price to list price.

Sarasota Association of REALTORS®