{"id":364,"date":"2018-06-03T07:00:44","date_gmt":"2018-06-03T11:00:44","guid":{"rendered":"http:\/\/www.bridgettbyzewski.com\/real-estate-blog\/?p=364"},"modified":"2018-06-02T16:41:36","modified_gmt":"2018-06-02T20:41:36","slug":"the-luxury-condo-market-is-heating-up-in-manatee","status":"publish","type":"post","link":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/2018\/06\/03\/the-luxury-condo-market-is-heating-up-in-manatee\/","title":{"rendered":"The Luxury Condo Market is Heating Up in Manatee"},"content":{"rendered":"

The Sarasota and Manatee county markets for condos & townhomes remain disconnected for properties between $600k and $1M. In Manatee, it is better to be a buyer; however, in Sarasota the market is balanced. While the $1M+ condo market in Sarasota has favored sellers all year, this is the first month that we also see it happening in Manatee. <\/p>\n

\"luxury
The luxury market for condos is way hotter than for single family homes.<\/figcaption><\/figure>\n

The table below groups all condos & townhomes over $600k into one bucket due to limited transactions above $1M in Manatee. It shows a snapshot for market conditions in both counties.<\/p>\n

\"\"<\/p>\n

Markets are generally considered in \u201cbalance\u201d when there is about six months of inventory for sale at the current pace of sales. When the inventory gets greater than that, buyers tend to have more leverage than sellers in negotiations. When the table shows a \u201cbuyer\u2019s market,\u201d it means there is more than seven months of inventory in the market. In that situation, buyers should have at least some level of negotiating power in condo and townhome purchases.<\/p>\n

As previously noted, I grouped data for condos and townhomes over $1M with the properties over $600k as there aren\u2019t that many condos over $1M available, especially in Manatee. However, if I were to include a separate grouping for $1M+ condos in both counties, you would see that there four months of inventory available in Sarasota and five months in Manatee (at the current pace of sales). Those are both in seller\u2019s market territory. This is the first time we can say that in Manatee this year, but the Sarasota luxury market has been scorching for quite some time.<\/p>\n

If you want more specific details for your condo or townhome, or if you are looking for information on potential places to move, just let me know.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Sarasota and Manatee county markets for condos & townhomes remain disconnected for properties between $600k and $1M. In Manatee, it is better to be a buyer; however, in Sarasota the market is balanced. While the $1M+ condo market in Sarasota has favored sellers all year, this is the first month that we also see […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,26,21,1],"tags":[7,12,13,9,24,25,16,15,20,19,6,17],"class_list":["post-364","post","type-post","status-publish","format-standard","hentry","category-home-buying","category-home-selling","category-luxury-homes","category-real-estate","tag-bradenton","tag-home-buying","tag-home-selling","tag-lakewood-ranch","tag-luxury-condos","tag-luxury-real-estate","tag-manatee-county","tag-real-estate","tag-real-estate-agent","tag-realtor","tag-sarasota","tag-sarasota-county"],"_links":{"self":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/364","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/comments?post=364"}],"version-history":[{"count":2,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/364\/revisions"}],"predecessor-version":[{"id":368,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/364\/revisions\/368"}],"wp:attachment":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/media?parent=364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/categories?post=364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/tags?post=364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}