Good Morning America announced last week that, according to the National Association of Realtors, fully 50% of all residential sales in 2009 were priced $100,000 or less and that half of those were short sales or foreclosed properties. This made me take a look at Manatee County figures to see where we stand vis a vis that report.
Guess what? We’re way ahead of it! Of the 2,062 residential properties sold since January 1st, 550, or 27% of all sales, were priced at or below $100,000, with 140, or 25% of that total touted as bank owned/foreclosures. The majority of Manatee County’s sales occurred in the $101,000 to $200,000 level, which accounted for 35% of the total units sold. In that category, only 14% were bank owned or foreclosures, again way below the national average.
All of my readers know by now that I don’t like to look at County statistics without a quick overview of the Island. Of the 86 residences sold between January 1 and June 21, only 5–or 6% of the total–were bank owned properties or foreclosures. In addition, not a single sale was registered under $100,000. Four residences sold at or below $200,000. The most popular price point was the under $300,000 property with 18 sales. In groupings of $100,000 increments, the $401,000 to $500,000 category came in a close second with 15 sales in total for this year. Not only is the County ahead of the national average, but better still, these statistics help me tell my customers that Island investors are way ahead of the pack.