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Venice FL - Homes for sale real estate market report

Venice/Englewood Area Real Estate Market Review 2010

The real estate market is cyclical and will once again thrive - but when? In 2010, more than supply and demand influenced the market. Each time the market received a bit of good news, something happened. Tax credits ended, banks pulled back on lending and foreclosures stopped closing. Signs continue to point to a stabilizing and slowly improving economy. The market remains solid if not stellar and most economists predict a positive trend in 2011.*  Billionaire Warren Buffett wrote March 2010 in his annual letter to the shareholders of his Berkshire Hathaway predicted increased demand for real estate in 2011. "Prices will remain far below ‘bubble' levels, of course, but for every seller or lender hurt by this there will be a buyer who benefits. Indeed, many families that couldn't afford to buy an appropriate home a few years ago now find it well within their means."

There has never been a better market for first-time buyers and move up buyers than right now.  We have low home prices and low interest rates at the same time.  Do you think that this will ever happen again in our lifetime?  As a result, you can buy a home and purchase it (on average) at a third of the price and a third off on interest rates.  The "move up" buyer might be taking a 30 percent reduction on the price of their home but can also get a 30 percent reduction in the price on a new, larger home.  So no matter what, they should be coming out ahead.  The message all buyers are receiving today...DO NOT WAIT TO BUY!

For our local real estate market, we saw a nominal increase, +6.35%, in the amount of homes sold in 2010 as compared to 2009 and a slight decrease, -1.56% in the average price a home sold for in 2010 as compared to 2009: 2691 homes sold in 2010 as compared to 2520 homes in 2009 and the average price of a home in 2010 was $205,946 as compared to $209,217 in 2009. Staging and pricing your home correctly will be the name of the game for 2011. Competition for buyers is strong.  Over 52% of the homes that were listed for sale in our local market in 2010 home listing expired and failed to sell.  Currently over 55.6% of the homes listed for sale have been on the market for over 120+ days.  Now more than ever it is critical that you price your home correctly and make sure your home stands out from the crowd.

       2692 properties sold in Venice/Englewood area in 2010

  • 826 properties sold listed below $99,999
  • 1050 properties sold listed between $100,000 - $199,999
  • 469 properties sold lilsted between $200,000 - $299,999
  • 187 properties sold listed between $300,000 - $399,999
  • 69 properties sold listed between $400,000 - $499,999
  • 29 properties sold listed between $500,000 - $599,999
  • 17 properties sold listed between $600,000 - $699,999
  • 5 properties sold listed between $700,000 - $799,999
  • 12 properties sold listed between $800,000 - $899,999
  • 5 properties sold listed between $900,000 - $999,999
  • 20 properties sold listed over $1,000,000

Venice FL - Homes for sale updateMarket statistics from 1/1/2011 - 3/1/2011

2953 properties currently available for sale, 1512

properties have been on the market over 120+ days

  • Highest listed property, $19,000,000
  • Average listed property $398,070
  • Median listed property $223,900
  • Lowest listed property $23,000
  • Short Sales listed 654
  • Foreclosures listed 336  

744 properties are under currently contract in the Venice/Englewood area 

556 properties sold in Venice/Englewood area since 1/1/2011

  • 189 properties sold listed below $99,999
  • 220 properties sold listed between $100,000 - $199,999
  • 76 properties sold listed between $200,000 - $299,999
  • 36 properties sold listed between $300,000 - $399,999
  • 18 properties sold listed between $400,000 - $499,999
  • 5 properties sold listed between $500,000 - $599,999
  • 1 properties sold listed between $600,000 - $699,999
  • 2 properties sold listed between $700,000 - $799,999
  • 3 properties sold listed between $800,000 - $899,999
  • 1 properties sold listed between $900,000 - $999,999
  • 10 properties sold listed over $1,000,000

All reports are based on data supplied by the MyFloridaRegionalMLS and FloridaRealtors.org a/o 1/2/2011. Report statistics encompass communities of Island of Venice, Venice, South Venice, Nokomis, Casey Key, Englewood, Rotonda West and Manasota Key FL. Copyright© 2011 by Kari A. Battaglia, PA. *Source:  FloridaRealtors.org (07/30/2010).

Copywrite Kari A. Battaglia PA 2011 - Venice FL - Homes for sale real estate market report

Venice FL Realtor Kari Battaglia Selling Homes in Venice

Helping buyers and sellers since 2004.  A Venice/Englewood Florida resident for almost 40 years, put my local real estate knowledge to work for you today.  My coverage areas include Southwest Florida include Venice, South Venice, North Venice, Nokomis, Osprey, Casey Key, Manasota Key, Englewood, Rotonda West, South Gulf Cove, Grove City, Placida, Cape Haze, Port Charlotte & North Port which are located in Sarasota and Charlotte Counties

 

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KARI BATTAGLIA, PA
REALTOR Broker Associate ABR AHWD CRS GRI SFR SRES
President Venice Area Board of REALTORS 2017
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Comment balloon 1 commentKari Battaglia, PA • March 04 2011 01:30PM
Venice FL - Homes for sale real estate market report
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Venice/Englewood Area Real Estate Market Review 2010 The real estate market is cyclical and will once again thrive - but when? In 2010, more than supply and demand influenced the market. Each time the market received a bit of good news,… more