The issues we are seeing in Manatee County are even more pronounced in Sarasota. There simply isn’t enough active inventory to support a balanced real estate market. While some factors are trending in the right direction, they are doing so ever so slowly. See below for more details.
We saw mortgage interest rates trend sharply higher in the last 30 days. The recent change will cost new borrowers another $30 per month for every $100,000 borrowed.
While Manatee saw its year over year new listings rise, the same can’t be said for Sarasota County. The market remains very seller oriented in Sarasota.
Zillow is reporting an extraordinarily low number of homes for sale on its platform (see chart below).
