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.
Tag: Manatee County
Home ownership and home maintenance are joined at the hip, so I am sure you are aware that there’s plenty of work you should be doing. Sorry to lengthen your list, but there are a few more things to add that aren’t likely yet on it. Here are some important, but lesser known maintenance activities.
There will likely be a new house fire every minute and a half this year in the United States. That means we can expect over 350,000 house fires every year in our country. Are you and your family ready for a fire in your home? While there are a myriad of fire safety and prevention tips, three really stand out for me.
The latest mortgage delinquency statistics show that Hurricane Irma is continuing to disrupt local mortgage repayments this month. Both short-term delinquency rates (30 days late) and more serious delinquencies (90 days plus late) are up year on year. Also, after a long run of reduced foreclosure rates, they also started trending up over the last few months.
While I focus most of my time on what’s happening in Manatee and Sarasota counties, it’s also important to follow the broader real estate trends. Overall, the real estate market in the United States is seeing significant price increases. Over the past 12 months, average sale prices for homes have risen by 6.9%.