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.
This four-bedroom, three-bathroom home features 2,695 square feet of living space plus a three-car garage. Listed at $795,000, this home is an opportunity you won’t want to miss.
We saw mortgage interest rates drop a little bit more in the last 30 days. The most recent decrease will save new borrowers an additional $1.71 per month for every $100,000 borrowed. Average U.S. rates for 30-year fixed rate mortgages were at 3.81% as of this week. Last month at this time, they were sitting at 3.84%. We have seen a slow and steady decline since November 2018.
Listed at $1,695,000, this four-bedroom, four and a half-bathroom home has over 3,600 square feet and a large 3-car garage. This home is an award-winning former model that is available now in The Lake Club – Lakewood Ranch’s flagship neighborhood.
Whether you are looking to buy, sell or invest in real estate, it is important to understand market conditions. Real estate is hyper-local, with market dynamics changing from subdivision to subdivision. However, county trends generally give you a good idea of what to expect.
