The local market for condos and townhomes is continuing its shift. When compared to last year at this time, the market moved towards a buyer’s market across all price points in Manatee and Sarasota counties, with the most extreme movement happening in Sarasota.
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.
While the luxury single family home market ($1M+ homes) is more of a buyer’s market in Sarasota County this year than last, it is in roughly the same place in Manatee County. 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.
Listed at $364,500, this 3-bedroom, 2-bathroom home with 1,946 square feet and a two-car garage is sure to move quickly. Set in the private gated enclave of Eagle Trace, this charming maintenance-free home boasts three beds, two baths, and a large study. Well-designed for today’s living, the White Sands III floor plan built by Neal Communities has an open floor plan with large dining area, spacious kitchen, pantry, and a generous island with plenty of room for seating.
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.
