Good News For the Bradenton Real Estate Market

Anyone who knows the real estate market knows that Bradenton, Florida was one of the hardest hit areas when the housing bubble burst. Houses that were selling for $500,000 in 2006 are lucky to get $300,000 in 2009.

Fortunately, there has been some recent good news for the Bradenton real estate market.

According to the Manatee Association of Realtors and the Mid-Florida MLS, there have been several indicators that the Bradenton real estate market is starting to improve. Here are several statistics that point to an upswing in the market:

1. The number of single-family homes sold rose from 213 last September to 297 this September. That’s a 37% increase in one year.

2. The number of single-family homes also rose from month to month by 6% (from 276 to 297).

3. The median sale price of homes in Manatee County rose from $175,000 to $180,000. An increase of 2.8%.

4. Condominium sales increased from 42 units sold in September 2008 to 89 units sold in September 2009. More details please

5. Month to month condominium sales went up as well, from 54 units sold in August of this year to 89 sold in September.

6. Inventory of single-family homes dropped from last September to this September by 39.7%, from 5,827 listings to 3,510 listings.

While most of these statistics do not mark dramatic changes, and while we would need to see this trend continue for several months before making any concrete conclusions, it is certainly good news. Those interested in buying Bradenton real estate that have been waiting for the market to reach rock bottom should act quickly as it appears that the bottom has already been hit and is on it’s way back up.

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