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Mike's Weekly Real Estate Market Update 



In this broadcast, Mike shares the latest market data and explains what this means to you as a buyer or seller:  August 13, 2018


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Mike's Real Estate Market Update: August 13, 2018

Michael Renick

The Key to our success is You!  We understand that.  The strongest aspect of communications is listening...

The Key to our success is You!  We understand that.  The strongest aspect of communications is listening...

Aug 11 5 minutes read

Watch and Listen to Mike's Real Estate Market Report

Please let me know what area you would like me to personally prepare for you?

[email protected]

941-400-8735

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My Current Coverage Plan:

First Monday - What trends do we see in area sales?

Second Monday - Are local prices rising or falling?

Third Monday - How much inventory is out there today?

Fourth Monday - How long is it taking to get properties sold?  

Fifth Monday - No Report

Today's Coverage:  Are Local Prices Rising or Falling and, most importantly, what does that mean to you as a buyer or seller?


Average Price per Square Footage

How do you calculate the Average Price per Sqft?

  • Average Price per Sqft is the average of sold price divided by square footage of sold listings.

What Does Average Price per Sqft. Report Do?

  • It helps establish the market price for an average home.
  • It helps determine if there is any change in property value for a specific area in a specific price range.

How to Use Average Price per Sqft. Report?

  • Use the highest and lowest monthly average price per square foot on the chart to establish the most marketable price range in a specific area.
  • If the home has a larger than normal lot, a special amenity, or is located in an area of social demand, the home price must be adjusted upward.
  • Refer to For Sale vs. Sold Report for the number of properties sold per month. If there are less than five properties sold per month for a specific price range, the average price per square foot might be skewed and is not as useful. In this case, an average of the fifteen month's or more figures should be used in setting the price.

Sarasota County

June 2018 Average Sold Price per Square Footage is Neutral*


Average Sold Price per Square Footage in June 2018: $214

Up 4.4% compared to last month

Up 6.5% compared to last year

 

*Based on 6 month trend - Appreciating/Depreciating/Neutral


Manatee County

June 2018 Average Sold Price per Square Footage is Neutral*


Average Sold Price per Square Footage in June 2018: $172

Down 7% compared to last month

Up 1.2% compared to last year

Longboat Key

June 2018 Average Sold Price per Square Footage is Neutral*

Average Sold Price per Square Footage in June 2018: $182

Down 8.5% compared to last month

Down 0.5% compared to last year

Holmes Beach/Bradenton Beach

June 2018 Average Sold Price per Square Footage is Neutral*

Average Sold Price per Square Footage in June 2018: $172

Down 7% compared to last month

Up 1.2% compared to last year


Siesta Key

June 2018 Average Sold Price per Square Footage is Neutral*

Average Sold Price per Square Footage in June 2018: $214

Up 4.4% compared to last month

Up 6.5% compared to last year





Venice

June 2018 Average Sold Price per Square Footage is Appreciating*

Average Sold Price per Square Footage in June 2018: $182

Up 7.1% compared to last month

Up 8.3% compared to last year


City of Sarasota

June 2018 Average Sold Price per Square Footage is Neutral*

Average Sold Price per Square Footage in June 2018: $227

Up 2.7% compared to last month

Up 5.6% compared to last year





Bradenton

June 2018 Average Sold Price per Square Footage is Neutral*

Average Sold Price per Square Footage in June 2018: $159

Down 0.6% compared to last month

Up 6.7% compared to last year


All reports are published July 2018, based on data available at the end of June 2018, except for the today stats. All reports presented are based on data supplied by the Mid-Florida MLS. The Mid-Florida MLS does not guarantee or is not in any way responsible for its accuracy. Data maintained by the Mid-Florida MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Mike Provides even more Crucial Information for his Buyers and Sellers:


 


 

Published: July 2018*
Property Types: All Res. Proptype - All Properties - All Properties -
All Property Statuses


All reports are published July 2018, based on data available at the end of June 2018, except for the today stats. All reports presented are based on data supplied by the Mid-Florida MLS. The Mid-Florida MLS does not guarantee or is not in any way responsible for its accuracy. Data maintained by the Mid-Florida MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

I would enjoy the opportunity to prepare your personal update:  No Obligation!

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