The Sarasota County single-family home market looks to be a few months ahead of Manatee, assuming both counties continue on their pre-existing trends. The balance of power in Sarasota County is closer to a buyers’ market than Manatee, but it isn’t quite there yet. It is still a reasonable market to participate in whether you are buying or selling. One of the big shifts we saw in terms of year-over-year results in Sarasota County was percent of sales that were all cash. It was down materially from 2023. That may be telling us that investors are backing off the market for now. The infographic from Florida Realtors below contains more information.
Author: Bridgett Byzewski
August final statistics for Single-Family Homes in Manatee County showed a continuation of existing trends. New listings outpaced closed home sales, which continued to drive up inventory levels. The additional inventory on the market is moving the balance of power slowly towards buyers. At this point, there is still a pretty decent power balance between buyers and sellers, but if this trend continues, the market will shift squarely into a buyers’ market in Manatee. The infographic below from Florida Realtors contains more.
When you are looking to negotiate your next home purchase, it helps to show the seller that you are a serious buyer. Also, if you are selling, you want to ensure you engage with buyers that are ready to purchase. The infographic below from Florida Realtors provides insights on how you can do just that.
When you are working on your next home purchase or sale, it’s important to know that you are getting the best from your real estate professional. The infographic below from Florida Realtors (via NAR) will help you with that.
Avoiding Wire Fraud
Homebuyers are increasingly falling victim to real estate wire fraud, often due to lax cybersecurity and the complexities of the home-buying process. In 2023, real estate wire fraud totaled an estimated $3 billion.
Fraudsters typically exploit weak cybersecurity links in transactions, often targeting real estate agents, loan officers, title companies, or closing attorneys. Once they gain access, they learn who is about to purchase a home and send the buyer fraudulent communications, posing as settlement attorneys or title companies, with fake wire transfer instructions.