Category: Home Buying

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Home Buying Home Selling Real Estate

Manatee County Single-Family Home Market Update

The market in Manatee County appears to have settled in at a relatively balanced place for now. Although there is still less than 4 months of inventory available, it is more than double what we had a year ago. Buyers and sellers are both in a position to negotiate to get balanced deals in today’s market. I tend to like these markets as real estate professionals can truly make a difference for their clients for both home buyers and home sellers. The infographic from Florida Realtors below has more detail on the market through June.

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Home Buying Real Estate

Buying Right

The infographic below from Florida Realtors provides tips on ensuring your next home purchase is successful.

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Home Buying Real Estate

Housing Inflation

Housing inflation has remained relatively high even as overall U.S. inflation has significantly cooled from pandemic-era peaks. Economists point to this slow decline in housing costs as the main factor preventing the consumer price index (CPI) from reaching policymakers’ targets. Housing accounts for 36% of the CPI, the largest share compared to other categories like food and energy, as it is the biggest expense for the average household. Consequently, movements in shelter prices have a significant impact on inflation readings.

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Home Buying Home Prices Real Estate

Sarasota County Single-Family Home Market Update

While there is a little more market movement in Sarasota County than Manatee County, the overall story is pretty consistent between both counties. Inventories are up, but not enough to swing us to a buyer’s market. Instead, balance rules the day. That said, at the current rate of change, we may be calling another buyers’ market before the next peak season in Sarasota. Now is a good time to be on either side of a transaction as there is some leverage to be had by both sides.

Categories
Home Buying Home Selling Real Estate

Manatee County Single-Family Home Market Update

Given how much inventory has risen year over year (almost 70%), it is surprising how much everything else in the market has stayed virtually constant. Sales volume, pricing, and cash sales as a percent of total sales re almost unchanged, inventory has risen from less than 2 months of sales to more than 3 months of sales. So, what does it all mean? Well, the market still favors sellers to some degree, but homes are now on the market for a more reasonable amount of time. Also, homes that have no business selling at the initial asking price are generally not selling at or above that price. I tend to prefer this type of market as there is some level of negotiating leverage no matter whether I am representing buyers or sellers. See the infographic below for more information from Florida Realtors.