The infographic below contains packing tips to help your next move go smoother from Dwellsy via Florida Realtors.
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Tag: Lakewood Ranch
The single-family home market in Manatee County hasn’t shown much change in the last few months. We continue to have less inventory than we would like, which is keeping closed sales relatively low. That said, demand isn’t where it was during the peak post-COVID times, so prices have largely stabilized. At this time, I continue to believe that your leverage is reasonable whether you are a buyer or a seller. As we head into our busier season in the next quarter, the market could still take a turn favoring buyers or sellers. See the infographic below from Florida Realtors for more details.
Homebuilder confidence experienced its first decline this year in August, reflecting the challenges posed by a 7% mortgage rate and dwindling housing affordability. The recent report from the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) revealed a 6-point drop in builder confidence from July, resulting in a reading of 50.
While single-family home inventory levels in Manatee are thankfully higher this year than last, we didn’t see inventory build in June. Overall, the market remains fairly healthy when compared to 2022; however, more inventory would make a positive difference. The median price of homes has dropped slightly YoY; however, that doesn’t mean that home prices are falling. Rather, the lower end of the market is transacting at faster pace than it did last year, which is a good outcome for the county. The infographic from Florida Realtors below contains more of the details.
While new listings were down YoY in May, we saw both closed sales and overall inventory rise when compared to May of 2022. The lower half of the market seems to be more active this year as the median sales price is finally moving down a bit. While I would like to see listings and inventory continue to rise, the market is continuing to look healthier now than it did a year ago. It is a reasonable time to be a buyer or seller in Manatee County. See the infographic below from Florida Realtors for more.
