1. For Immediate Release
Sarasota Association of Realtors®
March 14, 2012
For more information contact Kathy Roberts, 941-328-1170
Sales climb in February 2012; pending sales rise to 11-month high
Pending sales in the Sarasota real estate market hit an 11-month high in February 2012, demonstrating
once more the health of the local industry as the buying season heats up. Median sale prices were also up
substantially for single family homes and condos in February 2012 compared to this time last year –
another positive sign for a successful home buying season.
“I have heard nothing but positive reports from our members about the seasonal surge in our real estate
market,” said SAR President Laura Benson. “Sales are up, prices are stable and much higher than last
year at this time, and we are seeing multiple offers on many transactions. Pending sales are off the charts
– we hit a 11-month high of 1,130 in February. This is all very encouraging news.”
The January 2012 holiday sales lull didn’t last long. The 177 condo sales in February represented the
highest level in the last eight months. If pending sales, which represent properties going under contract,
produce the expected level of closed sales, we could see a major selling month in March 2012. That could
repeat what we saw in March 2011, when sales hit the highest total since 2005.
Overall, February 2012 saw a 15 percent increase in property sales over January 2012, and a 17 percent
increase in pending sales from the previous month, both reaffirming numerous verbal reports of a very
busy spring selling season in Sarasota. Closed sales stood at 414 for single family homes and 177 for
condos, lower than in February 2011, but higher than last month. In February 2011, 471 single family
homes and 201 condos were sold.
The single family home median price climbed to $167,500 in February 2012 from last month’s figure of
$162,000. For condos, the figure fell to $150,000 from the January level of $180,000. Last February, both
single family homes and condos were selling at the median price of $137,500, so both of the current
numbers reflect a stronger market than a year ago. Single family home prices were a whopping 21.8
percent higher than in February 2011. Condo prices were 9 percent higher than last February.
The inventory for February stood at 4,588, down almost 5 percent from January’s 4,711, and 20 percent
lower than last February’s total of 5,864. With fewer available properties, the law of supply and demand
indicates asking prices could be climbing higher in the coming months.
The inventory hit a 10-year low of 4,408 in August 2011, and has remained at or close to this low level
since then. As the inventory has slid, the months of inventory has also dropped. The figure now stands at
7.2 months for single family homes, compared to 8.3 last month and 8.0 months in February 2011. The
figure was 9.1 months for condos, compared to 11.3 months in January and 10.4 months last February. A
figure of 6 months is considered equilibrium between a buyer’s and a seller’s market.

2. Distressed property sales continued to represent a higher percentage than normal in the local market in
February 2012, with 37.4 percent of all sales from bank-owned foreclosures and short sales. But the
figure was a drop from the 40 percent total in January 2012, and far below the record high of over 50
percent in the second quarter of 2010.
Currently, only 740 properties for sale in the MLS are distressed listings (short sales and foreclosures), or
roughly 15 percent of the market. Last month at this time, the number was 812 out of 4,711 homes and
condos on the market, or about 17 percent. If this percentage continues to trend lower, we could begin to
see median sales price increases going forward.
“The lower number of distressed property sales, and the decreased number of foreclosures and short sales
available will likely mean greater competition and higher asking prices,” noted Benson. “We are all
hoping for a return to historic levels of distressed properties, which would be less than 5 percent of the
market. But until that day, our members will continue to educate themselves on the existing market and
help customers make sensible decisions.”
###

3. Sarasota MLSSM Statistics - February 2012
Single Family
Unit Sales Condo
700
600
500
400
300
200
100
0
Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12
Single Family
Median Sale Price
Condo
$250,000
$200,000
$150,000
$100,000
$50,000
$0
Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12
Single Family
Average Median Median Last Months Pending # New # Off
#Active #Sold %Sold %Pending
DOM Sale Prices 12 Months Inventory Reported Listings Market
This
Month
2,972 414 13.9 171 $167,500 $160,000 7.2 793 26.7 795 154
This
Month 3,782 471 12.5 178 $137,500 $160,000 8.0 735 19.4 647 123
Last Year
Last
Month
3,037 365 12.0 171 $162,000 $158,000 8.3 723 23.8 835 131
YTD - 796 - 168 $163,250 - - 1,516 - 1,630 -
Single Family – Sale Price Vs. List Price % Rates
Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec
2011 94.5 94.1 94.7 94.1 94.2 94.3 94.1 94.5 95.2 95.1 95.3 94.8
2012 95.4 94.2 - - - - - - - - - -
Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors® as of March 10th, 2012,
including some listings in Manatee, Englewood, Venice, and other areas. Single-family statistics are tabulated using property styles of
single-family and villa. Condo statistics include condo, co-op, and townhouse.
Source: Sarasota Association of Realtors®
16 APRIL 2012 Sarasota Realtor® Magazine www.sarasotarealtors.com

4. Sarasota MLSSM Statistics - February 2012
Single Family
Inventory Condo
4,000
3,000
2,000
1,000
0
Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12
Single Family
Pending Sales Condo
1000
900
800
700
600
500
400
300
200
100
0
Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12
Condo
Average Median Sale Median Last Months of Pending # New # Off
#Active #Sold %Sold %Pending
DOM Prices 12 Months Inventory Reported Listings Market
This
Month
1,616 177 10.9 212 $150,000 $160,000 9.1 337 20.8 323 166
This
Month 2,082 201 9.7 223 $137,500 $160,000 10.4 288 13.8 312 110
Last Year
Last
Month
1,674 148 8.8 212 $180,000 $159,000 11.3 240 14.3 364 156
YTD - 330 - 212 $154,250 - - 577 - 687 -
Condo – Sale Price Vs. List Price % Rates
Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec
2011 93.4 91.2 92.2 93.4 94.5 94.2 92.5 93.1 92.8 93.2 93.6 92.7
2012 93.1 93.5 - - - - - - - - - -
Median sales price is the middle value, where half of the homes sold for more, and half sold for less. Listings sold were closed
transactions during the month. Pending sales are sales where an offer has been accepted during the month, but the sale has not yet
closed. Even though some pending sales never close, pending sales are an indicator of current buyer activity. DOM indicates the average
number of days that sold properties were on the market before a contract was executed.
Sarasota Association of Realtors® MLS
www.sarasotarealtors.com Sarasota Realtor® Magazine APRIL 2012 17

5. Single Family
Months of Inventory
The Xtra Pages - Digital Version Only
Condo
12.0
10.0
8.0
6.0
4.0
2.0
0.0
Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12
Single Family
Days on Market
Condo
300
250
200
150
100
50
0
Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12
Single Family
Sales Volume Condo
$180,000,000
$160,000,000
$140,000,000
$120,000,000
$100,000,000
$80,000,000
$60,000,000
$40,000,000
$20,000,000
$0
Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12
New Listings Single Family
Condo
900
800
700
600
500
400
300 Sarasota Association of Realtors® MLS
200
100
0
Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12

6. Fourth Quarter 2011 Report
Single Family Sales ‐ By Quarter REO Short Market
1200
1000
800
600
400
200
0
2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2* 2010‐Q3 2010‐Q4 2011‐Q1 2011‐Q2 2011‐Q3 2011‐Q4
* Homebuyer Tax
Credit In Effect
Condo Sales ‐ By Quarter REO Short Market
600
500
400
300
200
100
0
2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2* 2010‐Q3 2010‐Q4 2011‐Q1 2011‐Q2 2011‐Q3 2011‐Q4
* Homebuyer Tax
Credit In Effect
Single Family Median Sale Price REO Short Market
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
2009‐2ndQ 2009‐3rdQ 2009‐4thQ 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4 2011‐Q1 2011‐Q2 2011‐Q3 2011‐Q4
Condo Median Sale Price REO Short Market
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000 Source: Sarasota Association of Realtors®
$50,000
$0
2009‐2ndQ 2009‐3rdQ 2009‐4thQ 2010‐Q1 2010‐Q2 2010‐Q3 2010‐Q4 2011‐Q1 2011‐Q2 2011‐Q3 2011‐Q4

7. Single Family
REO Sales ‐ By Quarter Condo
600
500
400
300
200
100
0
2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2* 2010‐Q3 2010‐Q4 2011‐Q1 2011‐Q2 2011‐Q3 2011‐Q4
* Homebuyer Tax
Credit In Effect
Single Family
Short Sales ‐ By Quarter Condo
400
350
300
250
200
150
100
50
0
2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2* 2010‐Q3 2010‐Q4 2011‐Q1 2011‐Q2 2011‐Q3 2011‐Q4
* Homebuyer Tax
Credit In Effect
Single Family
Market Sales ‐ By Quarter Condo
1200
1000
800
600
400
200
0
2009‐Q2 2009‐Q3 2009‐Q4 2010‐Q1 2010‐Q2* 2010‐Q3 2010‐Q4 2011‐Q1 2011‐Q2 2011‐Q3 2011‐Q4
* Homebuyer Tax
Credit In Effect
Source: Sarasota Association of Realtors®

8. Annual Sales ‐ 2000 to 2011
Single Family
Single Family Condo Total
11267
10562
9697
8167 8224
7,596 7603
7036 6,841
6533 6739
6,504
6 504 6358
6042 5820 5,938
5,603 5,466
5,183
4,940
4,626
4,349 4,353
3,721
3 721 3,922
,
3 671
3,671
3,193
2,564
2,184 2,096 2,120 2,137 2,286
2,005
1,556
1,194
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Annual Median Sale Price ‐ 2000 to 2011
Single Family Condo $351,000
$342,000 $336,250
$320,000
$272,500
$301,225
$305,000
$226,000
$225,000 $303,000
$191,000 $210,000
$172,500
$191,000 $230,000 $163,000
$142,000 $156,800
$173,000
$145,000 $160,000
$132,300 $163,000 $155,925
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011