Marc Rasmussen's Blog: Lakewood Ranch real estate

The chart above shows the number of single family homes and condos for sale, under contract and sold over the last 5 years in Sarasota, Florida. The light green lines represent the number of homes and condos for sale. The red line shows the number of properties under contract and the dark green line represents the number of sold properties.

From an owner of Sarasota real estate and a Realtor selling in Sarasota it is great to see the sharp decline in inventory, the rise in pending sales and closed sales. It looks like we still need to absorb some of the inventory in the market. Based on closed transactions we currently have jut over a 10 month supply of properties for sale. Real estate "experts" profess that a 6 to 7 month supply is normal. If we get a…