Real estate is an ever-evolving environment. The Sarasota County market has experienced a change in the first quarter of 2024, especially with the amount of inventory available for sale. Increased inventory has given buyers more choices than they have had since 2019, and this has caused homes to stay on the market for longer periods. This transition presents opportunities for buyers to negotiate and explore options, while sellers may need to refine their approach to stand out in a more competitive landscape.
Pricing a home correctly from the start, staging to ensure the home shows well, and professional photography and video are important to getting the most exposure in the marketplace. But remember, staying informed and seeking professional guidance are crucial steps that can make a significant difference in selling your home in the shortest time and for the highest potential value. You're not alone in this journey.
- Increased Inventory Levels: Inventory grew 71.0 percent for single-family homes and 106.1 percent for townhomes and condos, significantly shifting market dynamics.
- Properties Taking Longer to Close: The median time to contract for single-family homes has extended to 40 days, an increase of 61 percent. Similarly, condos rose to 51 days, an increase of 183.3 percent.
- Increased Cash Sales: In Q1, cash sales for single-family homes and condo transactions increased by 5.9 percent. This trend highlights many buyers and investors who prefer or can bypass traditional financing routes.
Please get in touch with us with any questions about the current real estate market. We'd be happy to discuss it.
If you are curious about the value of your home in today's market, click the button for a complimentary home valuation report. I will create a report and send it to you. We can also schedule a follow-up conversation by phone or in person. Contact Georgia at 941-260-6429 or Steve at 941-592-5569. or email
