You would not know it by driving through much of Lakewood Ranch, but the weakest link in the housing market is new construction according to the National Association of Realtors (NAR). Due to the Pandemic, there are still many homebuilders that are being conservative by staying on the sidelines.
While the luxury single family home markets ($1M+ homes) in both Sarasota and Manatee counties are strong buyer’s markets, they are moving in different directions. In Sarasota, the market has improved for sellers over last year. However, in Manatee, it looks even better for buyers.
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 generally give you a good idea of what to expect.
With the pandemic throwing the real estate market a curveball, it is easy to think about now being a good time to buy. However, as the inventory of homes for sale has shrunk faster than actual sales have slowed, it is just as easy to make a case for now being a good time to sell.
“A hero is someone who has given his or her life to something bigger than oneself.”
– Joseph Campbell