These past few weeks the United States has gone through some rough days. We have all watched the stories unfold on the news, hurricanes, floods, wildfires, not to mention the upheaval the pandemic has caused. On top of that we are collectively remembering the devastating attack our country suffered on September 11th twenty years ago and this month we watched the end of the war that followed. But, even in the midst of all of this, the beginning of Autumn is just days away and we get to look forward to the many holidays that will undoubtedly bring the joy of sharing time with friends and family. Gathering with family and friends is like balm for the soul. We have a few stories to share about people who will be in their new homes this Fall. We call these stories “Said Yes to the Address!”. Click on the title below the pictures to read their stories...
First Time Home Buyer Wins the Bid
We hear folks saying they think real estate prices are going to drop like Autumn leaves. In reality, like the fall leaves in Southwest Florida; where we don’t have the Autumn color change or leaves falling. The expectation shared by analysts of the real estate market is that prices are going to level off once the inventory of homes on the market is more balanced, not fall like leaves. Which is good news for everyone. Once the inventory builds again new homeowners will have the peace of knowing they made a good investment. Homeowners have equity. New buyers entering the market will not have to deal with the intense bidding wars. But first things first, the inventory of properties available to purchase needs to increase.
National Association of Realtors Fall Forecast
The inventory of homes on the market is still moving up - it’s a tortoise pace (but didn’t the tortoise win the race?). Buyers are winning bids and going under contract. This month alone we had a couple buying their first home win a bid! And,a couple that has been trying for seven months to win a bid, WON! Now, we work on getting them to the closing table and the keys to their home in their hands. Yes, listings are still selling as fast as hot cakes at a community pancake fundraiser. Here are a couple articles about the market we thought you would find interesting.
No Return to Pre-Pandemic Economy
So, What's the market around here doing? What is happening in Manatee,Sarasota, and Charlotte County? Well, we are glad you asked! :)
Let's look at the data for the typical home in the area. This would be a 3 bedroom, 2 bath, 2 car garage, pool home with 1500-2000 sq feet. The data we are looking for is how many are on the market right now, how many have sold in the last 90 days, what's the average SOLD price compared to market LIST price. Also the percent of list to sold is an important data point. I have excluded new construction homes from this data.
Sarasota: On the Market: 33 SOLD: 176 Percentage of Sold to List: 103.4%
Manatee: On the Market: 17 SOLD: 114 Percentage of Sold to List: 103.5%
Charlotte: On the Market: 29 SOLD: 173 Percentage of Sold to List: 103.7%
Ray and I have a question for you. We would love to know a few of your favorite places and things to do in the area, restaurants, beaches, bands you love to hear, theaters, festivals, you get the idea. We are putting together a "locals know things" kind of handout and your input would be fabulous. Whether you are a local, one of our snowbirds, or a-will-be-a-Floridian we hope to hear from you.
You can text us, or click this link and email us... What are your favorites :)
Making Real Estate Dreams a Reality!
#MaryRayWestbrook