Downtown Sarasota Condo Update - May Results 2011
Biggest month for downtown Sarasota Condo sales since April 2007! During May, 42 condos sold in ZIP code 34236. The last time we had a month that big was April 2007. And in February, March, and April of 2007, three large buildings were closing their new construction contracts. The last time we had a month as big as May 2011 without several years of new construction contracts crammed into the month was December 2004. Scroll down to see the sales chart by month and year.
More amazing is that nearly a fourth (10) of the sales were over $1,000,000. Of these, 7 were on Lido with the rest being on the east side of the Ringling Bridge. The last time we had more than 10 million-dollar-plus sales in a month in ZIP 34236 was June 2008 when 14 were sold. This is even more impressive given that during April 2011, 7 sales in 34236 occurred at over $1 million. That was a 13 month record.
As an added bonus, inventory declined again to 270 residences (Lowest level since December 2002 and down 17% now from the end of 2010).
The charts below show sales and inventory for the ZIP code and inventory levels for a sampling of downtown buildings.
Source is Trendgraphix and MyFloridaMLS for Condominiums in 34236 for the months indicated. 
Source is Trendgraphix and MyFloridaMLS for Condominiums in 34236 for the months indicated. 
Source is Trendgraphix and MyFloridaMLS for selected condominium buildings in 34236 for the months indicated.