We saw mortgage interest rate change direction and start moving up in the last 30 days. The recent increase will cost new borrowers an additional $7.34 per month for every $100,000 borrowed. Average U.S. rates for 30-year fixed rate mortgages were at 3.73% as of this week. Last month at this time, they were sitting at 3.60%. The slow and steady decline since November 2018 has halted for now.
This four-bedroom, four and a half-bathroom home features almost 5,000 square feet of beauty. It is situated on a half-acre lot and includes an oversized three-car garage. You will find it listed at $1,149,000.
You won’t want to miss this charming practically new home. Listed at $349,900, with three bedrooms, two bathrooms, and an office, this 2018-built home offers upgraded flooring in the main living area, a designer kitchen with large island, a walk in pantry, stone countertops, a café dining area, and a great room with large sliders that open up to a covered lanai overlooking a beautiful and peaceful lake.
This spacious St. Augustine II model home, built by Arthur Rutenberg, is situated on a premium ¾ acre lot, offers an open floorplan with 12′ ceilings and includes 4 generous sized bedrooms, 3.5 baths, den, large bonus room, 3 car garage and almost 3,700 square feet of living space. We are currently offering this listing in River Club at only $625,000.
The luxury single family home market ($1M+ homes) is more of a buyer’s market in both Manatee and Sarasota County this year than last. Markets are generally considered in “balance” when there is about six months of inventory for sale at the current pace of home sales. When the inventory gets greater than that, buyers tend to have more leverage than sellers in negotiations.