November 2010 saw resurgence in the Sarasota real estate market , with more sales and higher median sale prices indicating a healthy seasonal boost. There were 534 total sales reported last month, compared to 487 in October 2010 and 553 in November 2009. The median sale price for single family homes rose to $160,100, from last month's figure of $147,500, and for condos the price stood at $159,000 - slightly higher than the October 2010 figure of $158,525. The stability in the median sale prices shows signs of improvement.Overall sales rose by 9.7 percent in November 2010 compared to last month, but about 7 percent lower than last November, when the $8,000 homebuyer tax credit buoyed sales as the initial period was due to expire. Looking at the most recent five months, there has been a fairly steady trend in sales and prices, a sign of recovery.Pending sales were also strong in November 2010, and at 764 were very near the total in November 2009 (793), when the market was strength

WASHINGTON – Dec. 2, 2010 – Pending home sales jumped 10.4 percent in October, showing another positive uptrend since bottoming in June, according to the National Association of Realtors® . The Pending Home Sales Index (PHSI), a forward-looking indicator, rose to 89.3 based on contracts signed in October from 80.9 in September. The index remains 20.5 percent below a surge to a cyclical peak of 112.4 in October 2009, which was the highest level since May 2006 when it hit 112.6. The latest surge also reflects market strength, since buyers had an additional push to close quickly in October 2009 to qualify for one version of the first-time homebuyer tax credit that expired in November. The data reflects contracts and not closings, which normally occur with a lag time of one or two months. The data also surprised economists who had expected a decline in pending home sales given current troubles within the housing market . However, Lawrence Yun, NAR chief economist, says excell