✨ Sarasota’s Expiration Miracle: Week Ending September 13
✨ Sarasota’s Expiration Miracle
From 41.7% Failure to ZERO Expired in One Week
Week of September 7-13, 2024 | 601 Properties | 0 Expired vs 98 Last Week
🎯 Historic Market Correction
ZERO listings expired this week – down from 98 expired (41.7% failure rate) last week.
This is the most dramatic single-week correction in MLS history. Only 16 withdrawn (2.7%),
suggesting sellers are strategically retreating rather than failing. Success rate surged to 89.5%.
🏊 Pool Premium DOUBLES to $620,282!
💰 Pool Premium: $620,282 (Up from $316K last week – 96% increase!)
⏱️ Speed Crisis Persists Despite Miracle
⚠️ Despite zero expirations, 36.2% still take 120+ days – speed problem worsening
Sale Price vs List Price – Still 100% Under
0% (0 of 137)
0% (0 of 137)
100% (ALL 137)
🌆 City Performance: Venice Alone Thrives
| City | Total | Avg Price | PND/ACT | Avg DTC | Status |
|---|---|---|---|---|---|
| Sarasota | 255 | $871,185 | 0.85 | 107 days | Balanced |
| Venice | 149 | $469,582 | 1.09 🔥 | 100 days | HOT! |
| North Port | 113 | $329,228 | 1.12 | 109 days | Active |
| Nokomis | 36 | $642,807 | 0.31 ❄️ | 82 days | FROZEN |
| Osprey | 11 | $944,118 | 0.80 | 54 days ⚡ | FASTEST! |
| Longboat Key | 11 | $1,842,182 | 0.29 ❄️ | 163 days | COLLAPSE |
💵 Price Tier Dynamics: Entry-Level Frenzy
Under $300k (23.6%) 🔥
$300k-$500k (38.9%)
$500k-$750k (19.5%)
$750k-$1M (5.8%)
Over $1M (12.1%) ❄️
💳 Financing Shockers: Assumed Loan Miracle
💡 Assumable mortgages close 40x faster than FHA – the golden ticket for speed
🏠 Property Type Revelations
| Property Type | Count | Avg Price | $/SqFt | Value Rating |
|---|---|---|---|---|
| Condominium | 116 | $759,129 | $449/sqft ⚠️ | EXPENSIVE |
| Single Family | 422 | $699,917 | $309/sqft | Standard |
| Villa | 50 | $336,321 | $236/sqft ✓ | BEST VALUE |
| Townhouse | 13 | $442,000 | $237/sqft | Good Value |
💡 Villas at $236/sqft offer 47% discount to condos – hidden gem of the market
📋 Your Post-Miracle Playbook
🏠 For Buyers
- Target Venice – Only hot market at 1.09 ratio
- Hunt assumable loans – 2-day close vs 180 for FHA
- Villas at $236/sqft – 47% cheaper than condos
- Under $300K feeding frenzy – 1.32 P/A ratio
- Avoid Nokomis/Longboat – Frozen at 0.31/0.29 ratios
💰 For Sellers
- Zero expirations = pricing works – Follow the leaders
- Reject FHA offers – 180-day average kills deals
- 36.2% take 120+ days – Plan for long haul
- Pool premium doubled – Market pools at $620K value
- Osprey sells in 54 days – Study their strategy
📊 Market Transformation Scorecard
Navigate the Post-Miracle Market
Zero expirations prove the market is correcting. 36.2% still taking 120+ days proves speed matters.
Michael Renick | Your Local Knowledge Broker
📱 Cell: 941-400-8735
Data Source: MLS Analysis of 601 Sarasota County properties | Week of September 7-13, 2024
237 Active | 211 Pending | 137 Sold | 0 EXPIRED (Miracle!) | 16 Withdrawn
From 41.7% Failure to 0% – Historic Market Correction
