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 [...]

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.   While $266,000, was the average sold [...]

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. [...]

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 [...]

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 [...]

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 year ago, that represents a 40.8% [...]

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 %.  In 2015, [...]

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 sale.  Low supply creates a [...]