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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 20, 2018


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Mike's Real Estate Market Update: August 20, 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 16 6 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

*********************

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:  How much inventory is out there today and what role will that play in your home buying or selling process?


Months of Inventory Report

There are 2 kinds of Months of Inventory as follows:

  1. Months of Inventory based on Closed Sales (MOI based on Closed Sales)
    MOI based on Closed Sales = the number of properties for sale divided by the number of properties sold.
  2. Months of Inventory based on Pended Sales (MOI based on Pended Sales)
    MOI based on Closed Sales = the number of properties for sale divided by the number of properties pended.

Sarasota County

July 2018 is a Neutral market*


Months of Inventory based on Closed Sales in July 2018: 3.9

Up 8.4% compared to last month

Down 4.8% compared to last year


*Buyer's market: more than 6 months of inventory based on closed sales
Seller's market: less than 3 months of inventory based on closed sales
Neutral market: 3 - 6 months of inventory based on closed sales

Manatee County

July 2018 is a Neutral market*


Months of Inventory based on Closed Sales in July 2018: 3.4

Up 6.2% compared to last month

Down 15.1% compared to last year

 

*Buyer's market: more than 6 months of inventory based on closed sales

Seller's market: less than 3 months of inventory based on closed sales

Neutral market: 3 - 6 months of inventory based on closed sales

Longboat Key

July 2018 is a Buyer's market*


Months of Inventory based on Closed Sales in July 2018: 8

Up 31% compared to last month

Down 20.1% compared to last year

 

*Buyer's market: more than 6 months of inventory based on closed sales

Seller's market: less than 3 months of inventory based on closed sales

Neutral market: 3 - 6 months of inventory based on closed sales

Holmes Beach/Bradenton Beach

July 2018 is a Buyer's market*


Months of Inventory based on Closed Sales in July 2018: 6.7

Down 22.2% compared to last month

Down 4.3% compared to last year


*Buyer's market: more than 6 months of inventory based on closed sales
Seller's market: less than 3 months of inventory based on closed sales
Neutral market: 3 - 6 months of inventory based on closed sales

Siesta Key

July 2018 is a Neutral market*


Months of Inventory based on Closed Sales in July 2018: 3.9

Up 8.4% compared to last month

Down 4.8% compared to last year


*Buyer's market: more than 6 months of inventory based on closed sales
Seller's market: less than 3 months of inventory based on closed sales
Neutral market: 3 - 6 months of inventory based on closed sales

Venice

July 2018 is a Neutral market*


Months of Inventory based on Closed Sales in July 2018: 3.4

Up 17.4% compared to last month

Down 5.5% compared to last year


*Buyer's market: more than 6 months of inventory based on closed sales
Seller's market: less than 3 months of inventory based on closed sales
Neutral market: 3 - 6 months of inventory based on closed sales

City of Sarasota

July 2018 is a Neutral market*


Months of Inventory based on Closed Sales in July 2018: 4

Up 8.1% compared to last month

Down 11.1% compared to last year


*Buyer's market: more than 6 months of inventory based on closed sales
Seller's market: less than 3 months of inventory based on closed sales
Neutral market: 3 - 6 months of inventory based on closed sales

Bradenton

July 2018 is a Neutral market*


Months of Inventory based on Closed Sales in July 2018: 3.1

Up 7% compared to last month

Down 14.1% compared to last year


*Buyer's market: more than 6 months of inventory based on closed sales
Seller's market: less than 3 months of inventory based on closed sales
Neutral market: 3 - 6 months of inventory based on closed sales

All reports are published August 2018, based on data available at the end of July 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 anyway 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:


 


 

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