PRICE INCREASES SLOW DOWN

This is a snapshot analysis of home sales in Venice for July 2017.   The market has clearly shifted from a Seller’s Market to a Balanced Market. For the month of July the supply of homes for sale was 3.7 months. The average sold price per square foot was $170, up 4.3% compared to last year.   … Continue reading PRICE INCREASES SLOW DOWN

HOME SALES IN SARASOTA COUNTY: BALANCED MARKET

The real estate market in Sarasota County has drifted from a Seller’s Market to a Balanced Market. Over the past few years prices have increased over 10% per year.  It is now in the single digits. Average Sold Price per Square Foot. June 2017, $201/sq. ft.  Up 4.1% compared to last month ($193/sq. ft.); Up … Continue reading HOME SALES IN SARASOTA COUNTY: BALANCED MARKET

APRIL 2017 HOME SALES IN VENICE: NEUTRAL MARKET

April home sales reveals that the market is holding steady.  It is a neutral market.  Home prices are increasing at a very modest rate, in accordance with statistical norms. Significant competition is with new homes.  Aging communities are facing increasing competition from the new builds/new communities, which are many and coming out of the ground. … Continue reading APRIL 2017 HOME SALES IN VENICE: NEUTRAL MARKET

Venice Real Estate Resales: March 2017 New Listings Down, Closed Sales Up, Prices Neutral

I reported last month that for the months of January and February the Venice area was trending towards a Buyer’s Market.  In March, it took a pause.  Statistically, the month of March, relative to home resales, was neutral.  There were less homes for sale, including less new listings.  Although inventory levels remained low, which is … Continue reading Venice Real Estate Resales: March 2017 New Listings Down, Closed Sales Up, Prices Neutral

A FUNNY THING HAPPENED ON THE WAY TO THE CLOSING

I recently acted as a Realtor on behalf of a buyer in a recent home purchase.  It involved a homeowner who is selling a home which she owns along with her husband.  Her husband is not in good health, and she was acting on his behalf under a Power of Attorney.  This is relatively common, … Continue reading A FUNNY THING HAPPENED ON THE WAY TO THE CLOSING

Venice: Trending Towards a Buyer’s Market – Home Resales as of February 28, 2017

It is no longer a seller’s market.  I am not ready to call it a buyer’s market.  But, it is surely leaning that way.  Here we are, in the so-called “season”, and for 2 consecutive months the supply of homes for sale has been 6.1 months.  On a current quarterly to same quarterly comparison 1 … Continue reading Venice: Trending Towards a Buyer’s Market – Home Resales as of February 28, 2017

2016 Year in Review: Venice

The real estate resale market is strong and vibrant.  Prices have appreciated over the past few years.  Significantly.  It remains a great time to sell.  However, the rate of appreciation – i.e., the double digit rates of appreciation which we have enjoyed over the past few years has ended.  In 2016 prices increased 5 ½ … Continue reading 2016 Year in Review: Venice

Venice: Home Sales as of Nov 30, 2016

It is common to compare sales activity in a given month to the same month one year ago.  Although important, a more reliable indicator of trending activity is to use a three month rolling average.  Accordingly, below I will recite sales activity in Venice for this past month, November 2016, and compare it to November … Continue reading Venice: Home Sales as of Nov 30, 2016

Venice – As of August 31, 2016 – The Seller’s Market Continues … But Pricing is Key

The Seller’s Market Continues … But Pricing is Key. Inventory levels remain low.  In August there was only a 3.2 month supply of homes for sale, based on closed sales.  What this means:  Statistically, if there are no new listings over the next few months, then in 3.2 months there would be no homes for … Continue reading Venice – As of August 31, 2016 – The Seller’s Market Continues … But Pricing is Key

Venice – As of July 30, 2016 – A Slowdown in Home Prices & Sales

Inventory remains low.  For the past 3 months there was a 3.1 month supply of homes for sale based on closed sales.  Last year at this time there was a 2 month supply.  Although a 3 month supply is low, and constitutes a Seller’s Market (6 months is considered a balanced market), the supply of … Continue reading Venice – As of July 30, 2016 – A Slowdown in Home Prices & Sales