Today, we are going to get laser focused on zip code 34202, which I am using to represent Lakewood Ranch. The graphic below shows September activity for this zip code. This shows that our strong seller’s market is still holding despite year-on-year sales being down.
The reality is that there just aren’t enough listings out there for sales to run at their 2020 pace. New listings in September were down 43% year-on-year. That is making existing inventory fly off the market (80% faster YoY) at huge average price increases (36% for average sales prices).
As this is the time of year, we expect the market to heat up (for both buyers and sellers), it will be interesting to see if the market moves closer to normal. With the number of potential buyers that I know that are just waiting for the right opportunity, I am hoping for more balance. As always, feel free to contact me with any questions.