Venice: Home Sales in August 2014 – Sold Prices Have Stabilized

Sold prices have stabilized.  In fact, there is some evidence that prices may be showing signs of modest depreciation.  Consider the following: Inventory remains low — 2.9 month supply based on closed sales. Buyers quickly emerge — average days on the market, 77 days. Nevertheless, notwithstanding the laws of supply and demand: Average sold price (…) Read more

Venice: Home Sales in July 2014 – Sold Prices Remain Steady. Pockets of List Price Increases.

Home Sales in July, for the Venice area continued the trend of the last few months.  The number of homes for sale, listed, closed and placed under contract remained fairly steady, maintaining a “neutral” position.  Likewise, the average sold price stayed about the same as last month.  However, the active list price increased 4.5% from (…) Read more

Venice: Home Sales as of June 30, 2014- Price Have Stabilized. Inventory Remains Low.

Coming off the recession era bust, in 2012 and 2013 we had roughly a 20% combined rate of appreciation.  In May I reported that although prices continued to appreciate, the rate of appreciation was slowing.  I further postulated that for 2014 I anticipated an appreciation rate of 5-7%.  If June is indicative of the remainder (…) Read more

Venice: Home Sales as of April 30, 2014 – Continued Appreciation in April with Signs of Resistance

In April homes continued to appreciate.  Whether judged on a median, average or per square foot basis, the rate of appreciation was double digits compared to both last month and last year.  However, there is one significant sign that the pace of appreciation is beginning to slow down — homes placed under contract last month (…) Read more

Sarasota County: Home Sales as of March 31, 2014 – Appreciation Slowdown: Sarasota Countywide 4% – 6% Projected 2014 Appreciation Rate

Appreciation Slowdown: Sarasota Countywide 4% – 6% Projected 2014 Appreciation Rate  The 20% surge in prices, which we experienced over the last 2 years, will not be seen again.  After years of recession and stagnation, pent-up demand created the recent surge.  Appreciation has likely slowed to more sustainable levels.  We remain 30% off the high (…) Read more

Venice: Home Sales as of March 31, 2014 – A Neutral Market Leading the Way to 5% – 7% Price Appreciation

In March homes went under contract at a faster pace than new listings. The market has supported an increase in list and median sold prices of about 5% from last year. Pending sales, which is an indicator of available inventory 2 months out, reflects only a 2.8 month supply. If the supply of homes for sale remains (…) Read more

Venice: Real Estate Sales Marketing Report – As of February 28, 2014 – Signs of a Neutral Market

Signs of a Neutral Market If the month of February is any indication of where home sales are heading, the housing market in Venice (including the Island) may have reached a true place of balance, with prices stabilizing and yielding modest appreciation. Homes for Sale, Sold, Pended & New Listings in February 2014 Homes for (…) Read more

Venice: Real Estate Sales Marketing Report February 2014: Continued Price Appreciation Sustainable Through 2014

2013 was a great year for Venice real estate.  This was amongst the most productive years ever, based on the total number of homes sold.  In fact, had it not been for the shortage of available homes for sale, 2013 would likely have seen more homes sold than any other year, ever.  On average there (…) Read more

Venice: Real Estate Sales Marketing Report, November 2013

List Prices are Neutral while Sold Prices are Appreciating. Logic would seem to dictate that if homes are selling for more money, then list prices should go up as well.  Well, list prices are going up.  But, whereas sold prices have had double digit appreciation, list prices have had modest single digit appreciation. So, how (…) Read more

Venice: Real Estate Sales Marketing Report, October 2013

Inventory Levels Stay Neutral – Price Appreciation is Moderating. In October, the number of homes available for sale, including new listings, closed sales and homes placed under Contract saw modest fluctuation from last month, but over-all no evidence of significant change.  The result is that the number of homes for sale based on closed sales (…) Read more