We saw mortgage rates drop slightly last month. The most recent decrease will save new borrowers an additional $3.03 per month for every $100,000 borrowed. Average U.S. rates for 30-year fixed rate mortgages were at 4.81% at the end of November (and are even a little lower as I am writing this). At the end of October, they were sitting at 4.86%. We are continuing to see a bit of a zig zag approach to the market with a few months of rising rates followed by a month or two of decline.
Tag: Manatee County
This three-bedroom, two-bathroom home features 2,201 square feet and a two-car garage. It is oozing curb appeal and charm! This impeccably maintained home is in the maintenance-free Spyglass neighborhood in the gated Lakewood Ranch Country Club.
For the second month in a row, the Sarasota and Manatee county markets for condos & townhomes are moving in lockstep for homes below $600,000. However, the Manatee market has really slowed down when compared to Sarasota for condos above $600,000.
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.
The luxury single family home market ($1M+ homes) is more of a buyer’s market in both Sarasota County and Manatee 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.
