The luxury market continues to be as hot as I have seen it since I started serving real estate clients in Florida. Usually, the higher end of the market tends to favor buyers, with over seven months of available inventory for sale at any point in time. However, there are now less than four months of available inventory in both Sarasota and Manatee counties, making them seller’s markets.
We saw mortgage interest rates drop again in the last 30 days. The recent change will save new borrowers another $3 per month for every $100,000 borrowed. Average U.S. rates for 30-year fixed rate mortgages were at 2.65% as of this week. Last month at this time, they were sitting at 2.71%. Of course, both are historically low.
Congratulations to our sellers in Clubside at Country Club East! Their lovely home is in contract after just coming to market.
When you list your home for sale, it will directly compete against other listed properties in the local area. Pricing your home competitively is important, but so are factors like appeal and property condition. You know your property better than anyone else, so you understandably may be aware of some repair issues that you have been putting off. Are you trying to decide which of these repairs require your attention before listing your Florida house for sale? Here are some important factors to consider.
The local market for condos and townhomes has not changed materially from last month. However, when compared to last year at this time, the market favors sellers across all price points in both Sarasota and Manatee counties.