While the luxury single family home markets ($1M+ homes) in both Sarasota and Manatee counties are strong buyer’s markets, they look better for sellers this year than last. The most significant movement for sellers is in Manatee County where the months of available inventory has dropped over 40%.
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.
