Snapshot Venice Real Estate: September 2017

I hope you had a great summer. We are officially entering the 4th quarter, and heading into “Season”. The real estate market has stabilized, resale inventory is low, prices are appreciating at modest levels. New construction provides a new level of competition for resales. Whether you are interested in buying or selling an existing or … Continue reading Snapshot Venice Real Estate: September 2017

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