Sarasota Real Estate Blog

But before anyone cracks open the bubbly, take note: The phenomenon — by far — remains the exception, not the rule.

Still, experts take the news as a sign that the region’s long-suffering real estate market might have found some footing, loosening the grip that buyers have enjoyed and perhaps heralding better days ahead.

Because real estate is such a big part of Southwest Florida’s economy, the return of home bidding could also be a sign that the recession — which started earlier here than nationally and reached more deeply — could be running its course.

The Herald-Tribune analyzed Multiple Listing Service data for all home and condo sales that closed in 15 Sarasota Real estate-area ZIP codes from Jan. 1 through Aug. 31.

Of more than 3,200 transactions studied, 520 — about 16 percent — had a sale price higher than, or equal to, the listing price, a possible sign of competitive bidding.

The data showed that the higher offers were much more common at the low to medium range of the price spectrum, but were not confined there.

Whether it is first-time home buyers rushing to take advantage of the federal government’s $8,000 tax credit before it expires, investors jumping back in the game, or a general sense that the housing market has bottomed, Realtors say that competitive bidding has changed the game.