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It’s been a little while, but I’m thrilled to say we’re back and fully focused on taking care of business! 💪 Whether you’re buying or selling a home, I’m here to provide you with the expert guidance and information you need to navigate the ever-changing real estate market.

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🏡 Ready to find your dream home? Or thinking about selling and making your next move? Let’s make it happen together.

📲 Reach out today—I can’t wait to help you turn your real estate goals into reality!

#FloridaLiving #GulfCoastLife #RealEstateExpert #BuyAndSell #DreamHome #HomeSweetHome County Real Estate Market Update: Trends, Insights, and Expert Tips

As we navigate the close of 2024, the Sarasota and Manatee County real estate markets are seeing significant shifts. Whether you’re a buyer, seller, or just keeping an eye on the trends, understanding the data and what it means for you is key. Here’s a breakdown of the latest updates, how they impact the market, and actionable tips to make informed real estate decisions.

Key Trends in Sarasota & Manatee Counties

  1. Decreased Closed Sales:
    • Both counties experienced a year-over-year decline in closed sales across all residential property types.
    • Sarasota saw a sharper drop in condo sales compared to single-family homes, while Manatee reported a 22.8% decrease in single-family home sales and a 24.7% drop for condos.
  2. Rising Inventory Levels:
    • Inventory is on the rise, especially for condos and townhomes, giving buyers more options.
    • Sarasota County has a 4.7-month supply for single-family homes and 5.5 months for condos, nearing a balanced market.
  3. Longer Time to Sale:
    • The time to contract has increased dramatically.
    • Sarasota: 49 days for single-family homes (+69%) and 60 days for condos/townhomes.
    • Manatee: 60 days for homes and 75 days for condos.
  4. Decline in Cash Sales:
    • A reduced percentage of cash sales points to fewer investor-driven purchases and increased caution among buyers.

Price Trends: A Balancing Market

While inventory grows, prices are stabilizing rather than dropping significantly.

  • Sarasota County:
    • Median price for single-family homes: $490,000 (down 6%).
    • Condos: $385,277 (down nearly 10%).
  • Manatee County:
    • Median single-family home price: $479,999 (flat year-over-year).
    • Condos: $327,000 (down 11%).

Hurricane Impacts on Manatee County

Manatee County faced a challenging hurricane season with storms Debbie, Helen, and Milton disrupting the market.

  • Coastal condo sales slowed due to damage and delays in obtaining insurance.
  • Listings paused as homeowners addressed storm-related repairs.

Navigating the Real Estate Market: Expert Tips

For Sellers:

  • Price & Prepare Strategically:
    • Homes no longer sell in a day or two without preparation.
    • Work with a real estate professional to stage your home, declutter, and make it appealing to buyers.
    • Minor tweaks, like rearranging furniture or improving curb appeal, can make a significant difference.
  • Think Like a Buyer:
    • Help buyers envision themselves in the space by depersonalizing and simplifying your décor.

For Buyers:

  • Stick to Your Budget:
    • Get preapproved for a mortgage and know your financial limits.
    • Avoid the temptation of “shiny objects” outside your price range.
  • Focus on Priorities:
    • Identify your must-haves early and stick to them to avoid buyer’s remorse.

What Lies Ahead for 2025?

Despite rising interest rates, higher insurance premiums, and market hesitations, experts predict stability as we head into 2025.

  • Interest rates remain high but aren’t directly tied to the Federal Reserve rate, leading to unpredictable fluctuations.
  • A balanced market offers opportunities for both buyers and sellers.

Work with Trusted Professionals

Now more than ever, having a knowledgeable real estate expert by your side is crucial. With decades of experience in Sarasota and Manatee counties, we can guide you through the nuances of the market, whether you’re buying or selling.

A Note of Gratitude

As we reflect on the past year, we’re incredibly thankful for the clients we’ve had the privilege to work with. Your trust and partnership inspire us every day.

Wishing you a Happy Thanksgiving and a prosperous 2025 ahead!

For more insights and assistance, reach out to your local real estate experts. Let’s make your homeownership dreams a reality.

Tags: #SarasotaRealEstate #ManateeRealEstate #MarketTrends #HomeBuying #HomeSelling #FloridaLiving

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