The shelf is getting pretty bare. The above graph clearly depicts the housing resale trend in Venice since the first of the year: • Homes for Sale — In January, 723; in April, 598. A 13% drop. • New Listings — In January, 271; in April, 194. A 28% drop. • Pended Sales (Under Contract) (…) Read more

1st Quarter 2013 vs. 1st Quarter 2012  HOMES for SALE:            18% Decrease. NEW LISTINGS:               28% Decrease. PENDED SALES:              11% Increase. SOLD HOMES:                                6.5% Increase. INVENTORY:                   23% Decrease. AVG DAYS ON MRKT:    18% Decrease. AVG LIST PRICE:              0.8% Increase. SOLD PRICES:                  6% Increase. A properly priced home will garner a higher sale price and result (…) Read more

Inventory remains low, below 6 months.  When properly priced, no greater than 7% from fair market value, buyers quickly emerge.  That song remains the same. The real eye opener, as I have posited in prior blogs, is that prices, on average, are likely to increase only 2% – 3% per year. The fact is, for (…) Read more

Groundhog Day may not have come until February 2nd, but in January both Sellers and Buyers came out of hiding.  Sixty percent (60%) more homes were listed in January than the prior month in December; likewise, sixty percent (60%) more homes went under contract in January.  Meanwhile, the number of sold homes (closings) in January (…) Read more

The Year in Review UNDER $250,000: 10% PRICE APPRECIATION OVER $250,000: 2%–3% APPRECIATION  We’ve all read the reports: The supply of homes is at its lowest level in years, as the number of new listings cannot keep pace with the number of sales. Prices are rising. Regarding the supply of homes, it’s true.  The supply (…) Read more

We all hear the reports: home prices are going up.  The fact is all real estate is local.  What happens in Venice or Sarasota bears little relationship to Cape Cod or Skokie.  So, what is happening in Venice?  Here are the facts:  Prices are 15% higher than last year, but since February they haven’t changed (…) Read more

If the past month is a precursor of coming month’s activity, we should anticipate a very active selling season. New listings, pending sales and closings are all trending upwards. Sold prices have firmed up and are showing signs of very modest advance, in accordance with historical standards.  The inventory of homes available for sale remains (…) Read more

As of October 25, 2012, there were only 12 homes for sale at the Lakes of Jacaranda.  As the graphs below reflect, prices have stabilized, they have bottomed out, and we are beginning to experience small, incremental price increases.  Appraisals remain problematic. Average Square Foot Sold Prices — $127 (Oct 2011-Sept 2012) versus $125 (one (…) Read more