We have seen the brakes heavily applied to the number of real estate transactions in the United States. The chart below, from the National Association of Realtors, shows just how much has changed in recent months.
Tag: Bradenton
We are rapidly approaching two months of inventory in Manatee County, which is a welcome change from where we were over the last 12+ months. Buyers are starting to see real options and some leverage in negotiations. Personally, I am a much bigger fan of markets where both sides have leverage rather than the one-sided market (sellers this time) we recently experienced. If you have questions about the infographic below, or what the market looks like at your price point, let me know.
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Home Selling Updates
As the competition among sellers is increasing, it is a good time to think about things you can do to maximize the value of your home from Florida Realtors.
Closed sales continued their YoY downward trend while new listings continued their YoY upward trend in Manatee in May. That is good news in terms of balancing the market. We still have significantly less inventory than we need to support the current sales volume, but the market is moving giving buyers some leverage.
The single-family home market in Manatee didn’t turn as much as Sarasota did in April. That said, there will be even more movement towards buyers in May. We still have a long way to go towards market balance, but there is more hope for buyers now than there has been in quite some time.
