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Home Buying Home Selling Real Estate

Sarasota County SFH Market Update

Unlike in Manatee, we actually saw median sales prices decrease for the first time in what seems like forever in Sarasota County (see graphic below). That said, the change was slight, and could easily reverse itself in the coming months as we move into peak transaction season. I think the headline in Sarasota County is one of balance. The market is at a point where buyers and sellers both have the opportunity for excellent outcomes. It is the type of market where both parties tend to give a little to make transactions work. Having been a real estate agent in markets where one party (either a seller or a buyer) hold virtually all of the cards, I find the current market much more conducive to positive outcomes.

Categories
Home Buying Home Prices Home Selling Real Estate

Sarasota County Market Update

While Sarasota’s results aren’t too different from Manatee County, there continues to be some variance. Prices are continuing to rise faster, and cash sales are a bigger piece of the pie. Overall, the season is shaping up to only slightly favor sellers over buyers as many sellers continue to be sitting on the sidelines this year. The infographic from Florida Realtors below has more detail on the latest month of results.

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Home Buying Real Estate

Buying Your Next Home

While the seller’s market is nowhere near as strong today as it was in the first half of 2022, you still want to put your best foot forward when making an offer on a home in today’s market. The infographic from Florida Realtors below provides some helpful insights on how to do just that.

Categories
Home Buying Home Prices Home Selling Real Estate

Mortage Rate Update

Mortgage interest rates were largely flat over the last 30 days. The minor recent change will only cost new borrowers about $1 per month for every $100,000 borrowed. Average U.S. interest rates for 30-year fixed rate mortgages were at 6.33% as of this week. Last month at this time, they were sitting at 6.31%.

Categories
Home Buying Home Selling Real Estate

Real Estate Agents

The National Association of Realtors put together this infographic that I found as a helpful overview of the role of a real estate agent.