I know agent compensation for real estate transactions is a question that many people think about when it is time to buy or sell a home. The National Association of Realtors has created this helpful video to explain how it works.
Tag: home buying
Single-family home transactions slowed down more YoY in Sarasota County than Manatee in August. It isn’t very often that you see closed sales down, inventory up, and the median sales price rise materially. What I believe it is telling us is that the higher end of the market is relatively stronger now than it was last year when compared to the lower half of price points. The percentage of cash sales rising tends to reinforce that belief. The infographic below from Florida Realtors shows more detail from Sarasota County in August.
August was rather uneventful for single-family home sales in Manatee County. While closed transactions were up YoY, pending transactions were down. All that led to rather flat results in terms of both price and inventory across the county when compared to August of 2022. Overall, I continue to be pleased with the market overall as the balance between buyers and sellers is reasonable. The ultimate question is still around what the market will look like as we head into our busy season in a few months.
Zillow believes they are about to be. In its most recent home price forecast update, Zillow anticipates a 6.5% increase in U.S. home prices from July 2023 to July 2024, marking a slight upward revision from their previous estimate of 6.3% made last month. To provide some context, historical data from Case-Shiller reveals that U.S. home prices have typically seen an average annual increase of 5.5% since 1975.
This 3-bedroom, 2.5-bath home features over 2,300 square feet of living space and an extended 3-car garage. Listed at $799,500, it is a great opportunity in Eagle Trace. Eagle Trace is a maintenance free, gated community, located near the north end of Lakewood Ranch. This master planned community of 272 homes sits on 104 acres, much of which is dedicated to preserving nature. Neighborhood amenities include a community center with a swimming pool, spa, tennis courts, playground and outdoor entertainment area with gas grill and covered seating area and NO CDD FEES in this neighborhood.