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.
The luxury single family home market ($1M+ homes) is more of a buyer’s market in both Sarasota County and Manatee County 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.
Please join us at 1731 Old Summerwood Blvd in Sarasota. The seller is motivated to move this recently reduced lake view home in Central Sarasota. Now Listed at $415,000., just $150. per sq ft.
This newly renovated, Morrison-built home features new flooring throughout and fresh paint in a crisp modern color. The kitchen has been completely redone and features beautiful white cabinetry with pull out shelving, granite countertops, stainless steel appliances, oversized farmers sink and abundant counter space. The generous Master suite has also undergone many improvements, including beautiful marble tiled tub surround, shower, and floors in the en-suite bath. The oversized great room makes it the perfect home for entertaining with friends and family. In addition to the spacious first floor, there is a second-floor bonus room that could be used as a fifth bedroom, game room or could serve many other uses. Close to University Town Center, I-75 and Florida’s Best Beaches.
The local market for condos and townhomes above $400,000 currently favors buyers. When compared to last year at this time, there has been a significant shift towards a buyer’s market for luxury condos in Sarasota county. While Manatee county hasn’t shifted towards a buyer’s market for luxury condos, the only reason why is that it was already a buyer’s market at this time last year.
Arrive by boat or by car! Homes with front and back bay views on Siesta are rarely available. Listed at $5,925,000, this five-bedroom, six-bathroom home boasts 7,443 square feet and six garages.
