The local market for condos and townhomes above $400,000 currently favors buyers. When compared to last year at this time, there has been a significant shift towards a buyer’s market for luxury condos in Sarasota county. While Manatee county hasn’t shifted towards a buyer’s market for luxury condos, the only reason why is that it was already a buyer’s market at this time last year.
Arrive by boat or by car! Homes with front and back bay views on Siesta are rarely available. Listed at $5,925,000, this five-bedroom, six-bathroom home boasts 7,443 square feet and six garages.
We saw mortgage rates drop a little bit more last month. The most recent decrease will save new borrowers an additional $5.35 per month for every $100,000 borrowed. Average U.S. rates for 30-year fixed rate mortgages were at 4.46% at the end of January. At the end of December, they were sitting at 4.55%. We are continuing to see a bit of a zig zag approach to the market with a few months of rising rates followed by a month or two of decline.
Another listed home in contract for the Shanahan Group. We are moving towards a closing date in Summerwood!
Whether you are looking to buy, sell or invest in real estate, it is important to understand market conditions. Real estate is hyper-local, with market dynamics changing from subdivision to subdivision. However, county trends generally give you a good idea of what to expect.
