The first six months of 2011 proved to be a great reminder that, just as the tide of the Gulf of Mexico ebbs and flows, all real estate markets are cyclical. Two years ago, the global financial crisis stalled the Florida real estate market as inventories climbed and prices fell, a condition that affected every market in the country. Last summer, the scare of the Oil Spill in the Gulf of Mexico again caused buyers to press the pause button on their real estate decision, despite the fact that our beaches and water always remained clear.

Today, we are fortunate to live in a much more stable real estate climate. The inventory levels of available homes has fallen dramatically. A plethora of short sale and bank owned properties that were pulling prices down have sold. Smart sellers adjusted their prices to today's market conditions and successfully sold their properties.

And while market conditions varied, one thing remained constant: the Sarasota region continues to receive widespread international acclaim as one of the world's great places to live. Dr. Stephen Leatherman, or "Dr. Beach," recently promoted Siesta Beach from its long-time #2 ranking to the accolade of being America's Best Beach. Surveys from CNBC, Portfolio.com and the American City Business Journal ranked Sarasota as one of the country's best places to retire.

We are excited to share with you our annual market report that provides a comprehensive analysis of real estate market activity in Sarasota and Manatee, as well as in-depth community profiles for both counties. Our hope is that this report will help educate you, but it should not be relied upon to determine a fair market value for any single property. If we can ever be of further assistance, please let us know.

Click here to view my market report.

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Gigi Silverberg
Plaza at Five Points
941.993.3695