What’s going on in our Sarasota and Manatee area real estate market this September? Let’s take a look at the latest developments.
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As we approach the fall, it’s time to take a look at how our Sarasota and Manatee area real estate market has changed.
Since this time last year, new listing inventory is down 11%. As a result, pending inventory is down as well, having dropped 1.6% year over year. If you’re a seller, this means you’ve currently got a great opportunity to list your property and sell for top dollar.
There are currently about 4,600 homes for sale in Sarasota and Manatee counties, leaving us with about 3.9 months’ worth of available supply. However, this figure varies between specific locations and price points.
Homes priced at or under $300,000, for example, are spending an average of just 30 days on the market and are receiving multiple offers from their first day of being active.
Above $600,000, though, conditions are a little different. In this price point, you’ll need to make a strong offer to succeed against competing buyers.
The bottom line is this: Our market will remain strong for the next year or two, and it’s a still a great time to buy, sell, or invest.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.