Although the luxury single family home market ($1M+ homes) is better balanced this year than last in Sarasota County, it is still a strong buyer’s market. In Manatee County, it is even a stronger buyer’s market this year than last. Markets are generally considered in “balance” when there is about six months of inventory for sale at the current pace of home sales. When the inventory gets greater than that, buyers tend to have more leverage than sellers in negotiations.
Tag: home selling
The Sarasota and Manatee county markets for condos & townhomes are currently moving in lockstep. Both markets are Seller’s markets for condos & townhomes priced below $400,000, Balanced markets for condos & townhomes priced between $400,000 and $600,000, and Buyer’s markets above $600,000.
Whether you are looking to buy, sell or invest in real estate, it is important to understand market conditions. Real estate is hyper-local, with market dynamics changing from subdivision to subdivision. However, county trends will give you a good idea of what to expect.
Although the luxury single family home market ($1M+ homes) is much better balanced this year than last, it is still a strong buyer’s market in both Manatee and Sarasota counties. Markets are generally considered in “balance” when there is about six months of inventory for sale at the current pace of home sales. When the inventory gets greater than that, buyers tend to have more leverage than sellers in negotiations.
Whether you are looking for a family home or to invest in a rental property, you don’t want to miss this one. This newly renovated, Morrison-built home is centrally located in the distinguished neighborhood of Summerwood. Listed at only $425,000, this property is sure to move quickly.