While the luxury single family home market ($1M+ homes) is more of a buyer’s market in Sarasota County this year than last, it is in roughly the same place in Manatee County. 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.
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 condos across all price points in Sarasota county. While Manatee county hasn’t shifted towards a buyer’s market across all price points, it has at the luxury end of the market.
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.