Friday, October 13, 2006

Sales Drop - Prices Increase

Today's paper reported on the current home/condo sales market.

Right now if you are a seller here are some tips too ... have the home inspected now and make all necessary repairs. You have a lot of competition out there.

As always get rid of the clutter. Paint. Clean the windows and carpet, tile and grout. Make your garage sparkle. Have your driveway pressure washed and even painted.

Back to the article...

While single-family home and condo sales continued their slump in September compared to a year ago, prices are on pace to show a 12 percent to 14 percent gain.

"Unless there is a downturn in the last three months, the annual appreciation for 2006 will be between 12 percent and 14 percent, comparable to levels in 2003," Dale Friedley of the Manatee County Property Appraiser's Office said in a press release that accompanied sales figures for September and the third quarter.

The market is likely returning to where it was in 2002-03, and "one can regard the market of 2004 and 2005 as an aberration," Friedley said, adding that the fourth-quarter numbers will be key to determining price trends. Locally, home sales in September slid 37.2 percent from last year. Condo sales tumbled by 73.6 percent.

The median cost of homes and condos climbed slightly but not by the leaps and bounds seen in 2004 and 2005. The median price of condos climbed to $209,900 and single family homes escalated to $309,000.

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