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.
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.
When you list your home for sale, it will directly compete against other listed properties in our area. Pricing your home competitively is important, but so are factors like appeal and property condition. You know your property better than anyone else, so you understandably may be aware of some repair issues that you have been delaying. Are you trying to decide which of these repairs require your attention before listing your home for sale? Here are some important factors to consider.
Closed sales were down 50% year on year in Sarasota County for single family homes in November. That is a massive drop; however, the market still doesn’t favor buyers at many price points. Inventory levels are at 4 months of sales (on average), so we are still a little short of the 6 months usually referenced as a balanced market. The signals are generally favorable for buyers though as cash sales are no longer the majority of sales in the county. That said, buyers shouldn’t be expecting to cash in on low offer to list price transactions at this time. The infographic below from Florida Realtors has more information.
Florida Realtors has put together this infographic on one way to predict the future of real estate. While this is oversimplified, it does capture the basics of supply and demand. If you have more questions about today’s market, reach out any time.
