South Gate Real Estate
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Are you or someone you know looking to move into South Gate? If so, look no further. Below are homes that are currently listed for sale in South Gate. Click on "Property Search" to find new and exciting homes in the neighborhood and "Check Your Home's Value" to discover the current value of your home! Click Here to Search the Sarasota MLS! OR TO SEARCH FOR OTHER FINE HOMES IN THE AREA SIMPLY CLICK HERE! South Gate Real Estate Report - May 2010 As of June 15, 2010, there were 29 active South Gate single family homes for sale in the Sarasota MLS ranging in price from $79,900 to $349,000 with an average list price of $180,000, including 7 listed as “Short Sales“ and 1 bank foreclosure. (There are 2 homes that are not in South Gate that are shown in the MLS as being in South Gate. These 2 homes are not included in this report.) There are 3 active listings on Phillippi Creek. If you exclude the listings on Phillippi Creek, the average list price was $165,000. There was one duplex currently listed as active in the Sarasota MLS with a list price of $198,000. Also, as of June 15, 2010, there were 18 South Gate single family homes “under contract” ranging in price from $95,000 to $285,000, with an average list price of $159,000, including two on Phillippi Creek or $149,000 if you exclude the two on Phillippi Creek. That includes 12 listed as “Short Sales” and 2 bank foreclosures. There were three duplexes "under contract" in the Sarasota MLS ranging in price from $110,000 to $155,000, with an average list price of $139,000. Two of the duplexes are “Short Sales.” As reported in the May 2009 report, there were 35 homes for sale with an average list price of $206,000, and 15 “under contract” as of June 17, 2009 with an average list price of $177,000. That means that there are 6 (17%) fewer homes in the MLS for sale in South Gate this year and 3 (20%) more homes “under contract” this year than at this time last year. The average list price for active listings in May 2010 was $26,000 (13%) less than in May 2009 and $54,000 (23%) less than in May 2008. There were four single family home sales in May 2010 ranging in price from $104,000 to $225,000 with an average sale price of $163,000, none on Phillippi Creek. None were “Short Sales” and one was a bank foreclosure. The average list price at the time of contract was $169,000. No duplexes in South Gate sold in May 2010. In May 2009, there were eight single family home sales in South Gate ranging in price from $95,000 to $200,000, with an average sale price of $129,000, including one on Phillippi Creek. In May 2008, there were five sales in South Gate that sold for an average of $197,000, none on Phillippi Creek. That means that the average sale price in May 2010 increased by $34,000 (26%) compared to May 2009 and decreased by $34,000 (17%) compared to May 2008. The total number of sales in May 2010 decreased by 4 (50%) compared to this month last year and decreased by 1 (20%) compared to this month in 2008. The deadline for having a home under contract to take advantage of the $8,000 federal tax credit for qualified “First Time Buyers” and the $6,500 federal tax credit for qualified “Repeat Buyers” passed on April 30, 2010. This required that buyers close by June 30th, 2010. It is very doubtful that this tax credit will be extended by Congress, but there is a possibility that Congress may extend the time to close for those who were under contract by April 30, 2010. Many buyers who are trying to buy a “Short Sale” have found it difficult, if not impossible to close by June 30, 2010. The only exception is for a qualified veteran. They have a full year more to take advantage of the tax credit. The May 2010 South Gate Real Estate Report is based on information from the Sarasota Assn. of Realtors for the period of May 1, 2010 through May 31, 2010. The information is deemed reliable, but not guaranteed. These properties are listed by and have been sold by various MLS participating offices. ------------------------------------------------------------------------------ South Gate Real Estate Report - April 2010 As of May 21, 2010, there were 28 active South Gate single family homes for sale in the Sarasota MLS ranging in price from $79,900 to $329,000 with an average list price of $175,000, including 9 listed as “Short Sales“ and 2 bank foreclosures. (There are 2 homes that are not in South Gate that are shown in the MLS as being in South Gate. These 2 homes are not included in this report.) There are 2 active listings on Phillippi Creek. If you exclude the listings on Phillippi Creek, the average list price was $164,000. There were three duplexes currently listed as active in the Sarasota MLS ranging in price from $110,00 to $198,000, with an average list price of $154,000. Also, as of May 21, 2010, there were 17 South Gate single family homes “under contract” ranging in price from $82,000 to $275,000, with an average list price of $163,000, including two on Phillippi Creek or $153,000 if you exclude the two on Phillippi Creek. That includes 10 listed as “Short Sales” and 2 bank foreclosures. There was one duplex "under contract" in the Sarasota MLS with a list price of $155,000. It is also a “Short Sale.” As reported in the April 2009 report, there were 37 homes for sale with an average list price of $225,000, and 10 “under contract” as of May 15, 2009 with an average list price of $161,000. That means that there are 9 (24%) fewer homes in the MLS for sale in South Gate this year and 7 (70%) more homes “under contract” this year than at this time last year. The average list price for active listings in April 2010 was $50,000 (22%) less than in April 2009 and $70,000 (28%) less than in April 2008. There were seven single family home sales in April 2010 ranging in price from $89,000 to $327,000 with an average sale price of $154,000, including two on Phillippi Creek. Excluding the two sales on Phillippi Creek, the average sale price was $111,000. One was a “Short Sale” and one was a bank foreclosure. The average list price at the time of contract was $160,000, or $113,000 if you exclude the two Phillippi Creek properties. No duplexes in South Gate sold in April 2010. In April 2009, there were six single family home sales in South Gate ranging in price from $115,000 to $198,000, with an average sale price of $155,000, including one on Phillippi Creek. In April 2008, there were five sales in South Gate that sold for an average of $247,000. That means that the average sale price in April 2010 decreased by $1,000 (1%) compared to April 2009 and decreased by $93,000 (38%) compared to April 2008. The total number of sales in April 2010 increased by 1 (17%) compared to this month last year and increased by 2 (40%) compared to this month in 2008. The deadline for having a home under contract to take advantage of the $8,000 federal tax credit for qualified “First Time Buyers” and the $6,500 federal tax credit for qualified “Repeat Buyers” passed on April 30, 2010. It is very doubtful that this tax credit will be extended by Congress. It was a great help in making homes affordable for many folks who could not afford to buy without it. Fortunately the interest rate for mortgages has remained near one of the lowest points in many years, so many buyers are still finding this a good time to buy a home. The April 2010 South Gate Real Estate Report is based on information from the Sarasota Assn. of Realtors for the period of April 1, 2010 through April, 2010. The information is deemed reliable, but not guaranteed. These properties are listed by and have been sold by various MLS participating offices. South Gate Community Association 19-Year resident and board member Chris Kernan is a Broker-Associate with Coldwell Banker Residential Real Estate. |
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