In the short-term, history tells us we will likely see some level of reduced demand in our area due to Ian. That said, given how we avoided the worst of the storm when compared to our neighbors to the south, I expect that the hurricane reduction to be less than what we experienced post-Irma in 2017.
Ambience matters when getting the best price for your home, especially with the market shifting towards a balance of power between buyers and sellers. Here are some music suggestions from Florida Realtors.
Sarasota County market data from August isn’t that much different from what we are seeing in Manatee. Transaction volume is down year on year, and inventory is building. That said, it appears to have little impact on pricing as of yet. The law of supply and demand should alter that somewhat in the coming months. That said, the uncertainty surrounding the overall economy could take us a number of directions as we head into the peak real estate season in Florida.
As the Pandemic housing boom fizzled out across the country this summer, we saw inventory jump. In bubbly markets, like Austin and Boise, that inventory jump was greater than 300% between March and August. However, that inventory spike is already fizzling out.
After nearly two years with sellers having the upper hand, buyers finally have another chance to purchase the home they always wanted (even with higher mortgage rates). Indicators that highlight the bright side to this cooling market include: