When priced correctly, to market value, homes sell. Priced too high, sales languish. In April 2018 sellers got the message. There was a slight reduction in sold prices. The result, homes sold, and inventory of homes for sale is now very low. Accordingly, we are in a Seller’s market relative to the low supply of … Continue reading Venice: Home Prices Neutral as Inventory Goes Low.
In Venice, March 2018 was a Neutral market! The number of for sale listings was up 12% from one year earlier and up 0.6% from the previous month. The number of sold listings decreased 11.3% year over year and increased 38.8% month over month. The number of under contract listings was up 26.1% compared to … Continue reading Venice Home Sales: March 2018, Neutral Market
For the first 2 weeks in March the weather in Sarasota County has been wonderfully temperate. February saw record highs for the month. Likewise, in February homes sold at higher prices, although the increase was modest. The housing market’s fundamentals are strong, homes are fairly priced, and the housing market is balanced between sellers and … Continue reading Venice: Feb 2018 Modest Appreciation | Neutral Market
“Modest appreciation, balanced market” is the key phrase to describe real estate sales in Sarasota County 2017. After 4 years of double-digit percentage price increases, in 2017 prices appreciated at a slower, single digit pace; albeit, still strong at 6-7% increase. That’s a good thing, because it should be sustainable. A balanced market serves the … Continue reading Sarasota County: Home Prices Increase 6-7% in 2017
Greetings! My most sincere best wishes for you and your family during this joyous Holiday Season and for a New Year of good health, happiness and good fortune. Stability, modest and sustainable price appreciation, and low inventory have been the hallmark of real estate sales here in sunny Venice, Florida this past year. Consistent with … Continue reading Home Sales Neutral: Venice Nov 2017
In Venice, home sales took a huge leap forward in October. The reason? It was all about Hurricane Irma. Upon Irma’s arrival on September 10th, although its effect on our area was not severe, it did have a temporary chilling effect on sales. Emphasis “temporary”, as it did not last long. Within a few weeks, … Continue reading Venice: Home Sales Rise, Prices Neutral.
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
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
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 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