Last year 2,118 homes sold in Venice; a .8% increase over last year, which likewise, was a good year.  Unrelenting demand, coupled with a consistent shortage of homes for sale, resulted in a  median sold price at $209,000, 21.5% higher than 2014.

With so many buyers competing for a home, and limited choices, the time it took to sell a home decreased by 23%, from 3.5 months in 2014, to 2.7  months in 2015.  65 days was the average number of days on the market, compared to 76 days in 2014, 14.5 % less.  Inventory levels are so low, that once a home hits the market, there is massive buyer interest.  If properly priced to market value, multiple offers become commonplace.

Nationwide, most economists are projecting continued price appreciation through 2018, albeit at a slower pace — approximate 4% annual appreciation.  As goes our feeder markets up North, so goes our market, but at a beneficial multiplier effect. The Sarasota Metro area enjoys amongst the highest concentration of baby boomers of mid-sized metropolitan areas in the US; accordingly, we should outperform the national statistics.

Forward looking:  rising home prices, low inventories, historically low interest rates, stock market volatility and full employment, indicates that 2016 should be a great year to sell or buy a home.