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Mike's Real Estate Market Update - February: A Strong Market for Longboat Key!

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...

Feb 17 4 minutes read

What is the Market Like in Longboat Key this Month?


Watch Mike's Real Estate Market Report to find out the answer to this question and learn how to use this information to formulate your competitive advantage!

SFH:  January 2019 is a Buyer's market!

•The number of “for sale” listings was up 24.5% from one year earlier and up 13.6% from the previous month.

•The number of sold listings decreased 66.7% year over year and the same month over month.

•The Months of Inventory based on Closed Sales is 39, up 273.8% from the previous year.

Condo:  January 2019 is a Buyer's market!

•The number of “for sale” listings was up 14.4% from one year earlier and up 11.8% from the previous month.

•The number of sold listings increased 52.6% year over year and increased 52.6% month over month.

•The Months of Inventory based on Closed Sales is 10.1, down 25.1% from the previous year.

SFH:  The Average Sold Price per Square Footage is Appreciating*

The January 2019 Average Sold Price per Square Footage of $574

•was up 19.6% from $480 last month and

up 47.9% from $388 in January of last year.

Condo:  The Average Sold Price per Square Footage is Neutral*

The January 2019 Average Sold Price per Square Footage of $452

•was down 6.2% from $482 last month

down 4.4% from $473 last year

SFH:  The Days on Market Shows Neutral Trend*

The DOM for January 2019 was 61,

•Up 408.3% from 12 days last month and

•down 25.6% from 82 days in January of last year.

Condo:  The Days on Market Shows Neutral Trend*

The DOM for January 2019 was 86,

•down 19.6% from 107 days last month and

•down 14.9% from 101 days in January of last year.

SFH:  Months of Inventory based on Closed Sales

The January 2019 Months of Inventory based on Closed Sales:  39

•increased by 273.8% compared to last year and

•up 13.7% compared to last month.

January 2019 is Buyer's market.

Condo:  Months of Inventory based on Closed Sales

The January 2019 Months of Inventory based on Closed Sales of 10.1 was

•decreased by 25.1% compared to last year and

•down 26.7% compared to last month.

January 2019 is Buyer's market.

Please let me know what area you would like me to personally perform a market analysis on for you?

[email protected]

941-400-8735

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To best understand the market, we need to look at the four factors (sales performance, price direction, how much competition, length of time on the market).  When we combine all of these factors for your specific area, you will be fully equipped to negotiate the best deal for you!  Isn't that what it is all about?

All reports are published February 2019, based on data available at the end of January 2019, 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:


 


 

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

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