2018 was a Neutral Market, balanced between buyers and sellers.  Prices for all Single-Family-Homes increased within a 4-5% range.  The average sold price per square foot rose 4.2% to $197/sq. ft.; the median sold price increased 5.2% to $282,000; and the average sold price was up 4.9% to $386,000.  The inventory of homes for sale based on [...]

Last month my Market Analysis of Homes Sales covered Venice and Nokomis for the 3-month quarter, July – September 2018. I cautioned that although home sales remained resilient, with solid, albeit modest appreciation, inventory levels were beginning to rise, which may limit continued price appreciation. A good indicator of how the market is [...]

This month’s Market Analysis for Home Sales covers Venice and Nokomis for the third quarter of this year.   Home sales remain resilient. For the current quarter, July – September 2018, prices increased 3.4% from the same quarter last year to $306,000 from $296,000. Solid, measured appreciation, sustainable growth.   Pending [...]

My Market Analysis for June 2018 covers data for the second quarter of this year, April to June 2018. It covers all of Venice, i.e., the Island, the incorporated and the unincorporated portions of Venice (South, North & Central Venice). It remains a Seller's Market, with Months of Inventory Based on Closed Sales at only 2.9 months. There [...]

I have been reporting that prices have stabilized, that the resale home market in Venice, Florida is neutral. Well, the month of May bucked that trend. May 2018 was a Seller's market! Compared to May 2017 everything was up: 1. Number of New Listings: up 8.6% from one year earlier. 2. Number of Sold Listings: up 3% year over year. 3. Number [...]

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 homes, but it is a Neutral [...]

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 previous month and up 21.7% compared [...]

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 [...]

“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 [...]