Congratulations to our client on Bridlecrest Lane! This two bedroom, two bathroom villa with den, extended lanai and two car garage is in contract.
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In Contract on Day 1
Tag: florida
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Moving Tips
The luxury market continues to be as hot as I have seen it since I started serving real estate clients in Florida. Usually, the higher end of the market tends to favor buyers, with over seven months of available inventory for sale at any point in time. However, there are now less than two months of available inventory in both Sarasota and Manatee counties, making them solid seller’s markets.
After creeping up a bit, we saw mortgage interest rates drop again in the last 30 days. The recent change will save new borrowers another $10 per month for every $100,000 borrowed. Average U.S. rates for 30-year fixed rate mortgages were at 2.97% as of this week. Last month at this time, they were sitting at 3.17%. Of course, both are historically low.
The local market for condos and townhomes continues to be hot for sellers across all price points in both Sarasota and Manatee counties. Markets are generally considered in “balance” when there is about six months of inventory for sale at the current pace of sales.