$1MM Sales increase substantially in SW Florida

Southwest Florida's general real estate market has been showing serious signs of normalcy, and the luxury component is no exception. Facts $1 MILLION PLUS: Sales were up 170% in September, compared with a year ago. Sales in the $1 million-plus market showed a 42.1 percent increase in September from August and were up 170 percent from a year ago in Manatee, Sarasota and Charlotte counties. Pending sales -- contracts that have been signed but not consummated, and often a good indication of future activity -- were up 8 percent last month when compared with August. They were up nearly 77 percent from a year ago. The total number of homes for sale were up less than 1 percent from August, but down by 23 percent from September 2010. Not surprisingly, with its large stable of high-end properties, Sarasota County saw the biggest spike in $1 million-plus sales at 26.7 percent from August and 280 percent from a year ago. September pendings in the county were up 18.8 percent from August and 90 percent from a year ago. The median price for all luxury homes was $1.28 million last month, down from August but up 20 percent from a year ago. Manatee County saw luxury sales rise 133 percent from August and 40 percent from a year ago, while pending sales were down 50 percent in September from August but up by one third from a year ago. The median price for all luxury homes sold during September was $1.82 million last month in Manatee, up about 16 percent from August and about 40 percent from a year ago. Visit my website at http://www.JayNadelson.com