My name is Mike Renick. I'm a senior broker, the team lead with Team Renick
Real Estate Services, part of that great Keller Williams on the Water Sarasota
family serving the west coast of Florida. Four Mondays out of the month, and
generally, that includes the whole month. Every once in a while there's a fifth, but
four Mondays out of the month, it's my goal to bring you the latest market
statistics and share with you how, whether you're a buyer or seller, how you
can leverage those for yourself. As the market changes, it's imperative that we
use the latest data and make the most of it no matter what side of
the transaction we're on. You notice there's no professional photography, no
professional videographers. It's speaking from the heart with raw
and true and unedited data because that's the way the market should be told in my
mind. I'll go through some information and then I'll bring the charts up. As we
use Facebook Live and learn more about the technology, the videos seem to go
farther with less charts being shown so we'll bring them in in just a couple of
minutes. But the first Monday of every month we're gonna talk about the sales,
what's the trend, up or down, what does that mean to you. Second Monday, as
important, we're gonna talk about prices. There's four factors over the four weeks.
The third Monday, last week we talked about inventory and we saw in some areas
there are fluctuations going on in terms of inventory right now. That impacts each
of us. What's interesting when we get into today and we talk about how long it
takes to get property sold, we see a lot less fluctuation, so we'll talk more
about that in a minute. But as we go forward, it's very simply the way this is
calculated. If you look at the properties that are sold in the month, you calculate
how long they are on the market, and you compute an average. So that's the
statistics we're going to look at going forward. And there's some interesting
things when you look at all four factors: price, sales, inventory, and then how many
days on the market, how long is it taking to get things sold. So let me try to
bring the charts up here and then all of this will go back out on Facebook and
and we'll publish this a little bit more formally. But let me
bring them in right now and let's go to this mode here and we'll go
that way. So when we look in Sarasota County, we see that the days on the
market are staying consistent. 79 for the month of July.
81 last month, 80. So, consistency in the county of Sarasota. One of the things of
note is that the selling price percent of listing price is holding firm in the
low 90 percents. We're seeing all the way back from beginning of this year at 94
all the way to 92. If we jump over to Manatee County we see a little jump that
occurred in May, it fell in June, and back up a little bit in July. Nothing
significant though. So we're holding firm in the 70s, the high 70s in terms of days
on the market. Listing price, selling price vs. listing price is about 93
percent. When we look at the cities we're seeing something different. Longboat Key,
and this is where we saw last week, in terms of the inventory fluctuations, the
days on the market are changing. So we've seen since the beginning of the year of
98 up to 116 in February. March was 114. We're at 136 right now so we're seeing,
and we're going to need to watch this closer so that we can leverage that,
because there's too much variation right now from month to month.
We see also that the selling price as a percent of the listing price is down to
86 percent. That's a little bit troubling there, as a buyer or a seller though we
can leverage this, it's having the information. We jump down or jump up to
Holmes Beach and Bradenton Beach. We see variation there also in terms of its
taking 132 days last month in July, a hundred days, approximately, a little over
in June, 136 in May ,so a lot of variation in the two cities that are located on
the islands right now. 93 percent, the actual sold price vs. asking
price. Siesta Key, a little bit more stability down on Siesta Key.
We're seeing 79 days on the market. It's consistently in the high 70s, very low 80s.
So a lot more stability there in terms of how long it takes to get something
sold. 92 percent is the sold price as a percent of listing price for last month. Jump
down to Venice, we see variability there. 79 days in July,
86 last month, but 69 and 62 in the two prior months so variability. We want
to keep an eye on this and leverage it. 93 percent for the sold price vs.
asking price. In the city of Sarasota, more stability; it's in the high 70s. 78
days of the market last month. 92 percent ratio sold price vs. asking price. And
when we look into Bradenton, we see that things that are on the market a lot less.
65 days holding steady. May was a unique month, but we're holding steady in
the mid to lower 60s. A 95 percent of sales price vs. asking price. So
let me bring this down and wrap up with a summary with my thoughts. Days on the
market are important to a seller to set expectations in terms of their
partnership with their real estate agent. If we want to beat the days on the
market we have to do it with other factors: aggressive marketing, unique
marketing, maybe niche marketing, make sure the global is covered, price has to
be something we talk about, and so on. When you're a buyer and you're deciding
whether to move fast or move slow that metric can be a big help to us. Also when
we see that the average is 80 days on the market and this particular home's been on
the market for a hundred and twenty, that's something we can leverage in
negotiations. So it's important to have this information at our fingertips. Now I
can provide this all the way down to a homeowners' association, a subdivision
level, or a condo association and we're happy to do that. We're getting many
requests from folks that are seeing these videos either live or the
recording and we're happy to pull that information
together. So reach out. My personal cell is up there it's 941-400-8735.
My email is mike@teamrenick.com and my
website is michaelrenick.com. We're happy to
provide this information. Even if you're not currently ready to buy or sell and
you're just looking to get questions answered we want to be the team that
gets those answers for you; no pressure, no push. As we move forward, Labor Day
weekend is upon us. Next Monday, I will be back. We'll be looking at sales numbers
at that time. So we will do a broadcast on Labor Day. I believe it's important to
get this information in your hands when you need it. So I want to thank everybody
who is either currently watching or will watch the recording. I hope this
information is helpful. We're seeing some instability in certain areas in terms of
how much inventory's out there, how long it's taking to get it sold, but prices
aren't changing yet that's the next thing that may happen and we want to
keep an eye on that. Again if you have any questions, reach out. I hope this is
the best Monday ever and the week in front of you is just super
outstanding. Thanks everyone! Take care.
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