Sarasota and Manatee Counties Housing Market Report and local Trends | June 2023 July 27, 2023August 25, 2023 Welcome to our comprehensive real estate market update for Manatee County and Sarasota County in 2023! Discover the latest trends, sales data, and valuable insights for both new home and resale buyers. In this video, we discuss the thriving residential market in Manatee County with increased sales and market resilience. Meanwhile, the dynamic real estate scene in Sarasota County offers more choices for buyers in the resale market. Learn about median sales prices, inventory levels, days on market, and pending sales for both counties. If you’re looking to buy or sell in these areas, don’t miss this essential guide! For more statistics and expert advice, visit Sarasota County Market Report – www.sarasotacountymarketreport.com Manatee County Market Report – www.manateecountymarketreport.com SUBSCRIBE to our Monthly Newsletter! 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I N S T A G R A M – F A C E B O O K – W E B S I T E – 00:00 Introduction 00:57 Manatee County Florida Market Update 04:38 Sarasota County Florida Market Update 10:01 What does this mean for buyers and sellers? 12:16 Preview of some new communities Hello everyone it’s Susan Phelps and Judy Atari and as you can see my Judy’s Background she’s in our Lakewood branch Office where she lives most often And I’m home with a palm tree growing Out of my head but I had a lot of folks Um we’re here today to share with you The July no I’m sorry June it is July we Have the June Market stance to share With you for the manatee and Sarasota County Um real estate so let’s get started Judy I’m gonna share my screen and I’ll show The charts and you take it from there Okay here we go Um so Manatee County real estate market Continues to be very strong Um back-to-back months of increased Sales over last year which was Um 2022 was a pretty rough breaking year So we still have a lot of strong buyer Activity and the market seems pretty Resilient as opposed to some other Things we’re seeing in the news okay Yeah close Um why don’t you just do all the Manatees so we don’t get confused and Confuse our viewers yeah we’ll just Stick with Manatee and we’ll go from There okay so we had Um 759 closed sales in Manatee so that Doesn’t mean you sign a contract it Means you’ve closed and taken ownership And again these figures probably do not Include all of the new construction Homes that are in our Market too some Are in here some are not right and then Congo Savannah County a single home Increase was almost 18 17.7 percent Increase in sales and condo sales Increased by 12 percent and it was 297 Uh sales for that and these are Year-over-year figures year over year 10 Years for June and single family home Prices in Manatee County decreased year Over year by 4.5 To 525 000 still pretty strong Um still significantly higher than say 2020. Um so it’s still a really strong markets Our supply so a lot of times we talk in This report about our supply or how many Months Supply and remember six months Supply is a balanced Market The condo Supply increased to 3.4 months Which is really good and single-family Homes are at 2.8 months still an Increase but still a seller’s market Still in the sellers are still little Driving seat here so that’s like a 15 Increase but still lacking another thing We’re seeing is how long homes are Staying on the market now in these Figures some houses are still selling in A day or two and some are selling in six Months so don’t be alarmed if your house Is the one of those the median numbers From date to contract so that’s when you Go into your agreement is 37 days for Single family homes and 34 days for Condos and I was looking for the um oh Darn I lost my numbers for how many days To close but overall generally about a Month more than those so it’s still a Really strong Market I know I’m still Very busy our new home sales Market is Also quite strong so that’s pretty much Your snapshot for Manatee County Home I would love to help you well yes We’re we’re definitely listing experts As well as new home sales experts and we Are hyper local experts so if uh what This means is you know we’re we’re Looking in specific areas because like Judy said some days the on Market are Shorter for properties that are still And very uh hot sections hot areas in The market that you know we narrowed Down and people we know we know where What the most popular places are to live Anyway so I’m going to move us over here Judy and talk about The Sarasota County closed sales which Interestingly enough went down 4.1 Percent year as as opposed to last year And the the um condos went up a little Bit we’re looking at you know year over Year but we still have a very strong Market That decrease in 4.1 percent isn’t that Much medium prices continue to rise 4.5 In a year’s time I mean that’s less than What we used to see in 2020 to 2022 but That’s still a significant increase Overall in prices for condos it went Down some we see a 6.3 percent decrease So we’re at 522.5 which is very close to Me to the median price in Manatee County For single-family homes and 390 for Condos we are looking at a growing Inventory there’s a few more houses on The market single-family homes than in Manatee County but as opposed to last Year at this time it’s an 88 increase Of Supply in the market and a 133 Percent increase for condos in Sarasota County now didn’t we have We have like a few months last year Three weeks Oh it’s looking at Wheats and everybody That was when things were just crazy You know you’re still seeing too um I Had a meeting this morning with some of People from the Lincoln Ranch office and We’re still seeing multiple offers on Sales Um not all the time but we are uh Somebody in our office said they lost a Sale Um there was 11 offers Um in a day or two on this one wow so There’s still some competition so I Think if people are looking to buy the Market Um take that realistically that you’re Probably gonna offer fairly close to Listing if it’s listing appropriately so Right right give me advice of your Professional realtor right well we try To indicate to our customers that the And I looked at all of the uh breakdowns For single family homes condos in both Counties and we’re still looking at 96 To 100 percent of asking price is is the Um bottom line sales price So nobody’s winning a an offer Um unless unless the property was just Ridiculously priced and then you look at The days on market and you can see yeah Well it’s still sitting there uh all of That information has to come together And make sense for a buyer or seller and We’re going to help you do that Definitely definitely and we’ve talked a Little too about like cash sales cash Sales are down slightly over last year But if we still have a lot of cash Buyers buyers are competing with Um and we have very few again distress Sales we’ve one example but people are Like I’m just gonna wait or I want to Only look at distressed sales I’m like You know there’s nothing to look at Right and it’s not a great time for Investors on the market No no I get I get taxed all the time From three or four companies and they’re Looking they’re looking they’re looking I’m like this is just not your game Right now yeah definitely definitely but Overall really strong I wanted to Compare We have a shorter days on Market uh time To contract the mentee but the same for Condos Normally our Market It’s usually a lot quieter in June July And August and everybody from that Meeting this morning everyone’s like I’m Still really busy or I feel more busy Than I did in March which is normally When we’re absolutely you know So it’s a good story good solid art in Here our summer season just continues Um we are uh generally speaking Um suggesting for sellers that if They’re going to put their house on the Market that now is the best time to Start getting it prepped and if you’ve Got any kind of construction that needs To be done to your house or right uh Painting and you need to hire somebody You better think well ahead because the The availability of skilled workers the People that you know have their own Companies that paint or that do any kind Of remodeling or repair they are booked They’re booked out so sellers need to Prepare for the season for the Post Summer season coming up and for buyers What all this means is when that season Starts based on what we’re seeing here In the last couple of months you are Going to Um have more to choose from your Inventory increase allows you to have a Better more options and it may not be White is competitive Um just get your ducks in a row be ready To Um jump on a finance offer especially in The new Home Market if you’re going to Finance we’re going to Um focus in on the incentives that many Of the the builders are still offering For a buying down the rate because oh Dear it’s hit again we’ve had another Increase Maybe this is the last one Judy I don’t Know I don’t know and some uh sellers of Resale homes um some of them are even Putting those offers in like you know We’ll offer up to so much so many Thousand dollars to help buy down the Rate so right or maybe that’s something Buyers ask for so there’s a lot of Creative options out there still right And interest rates are higher I Mentioned this last month but sellers That have an assumable mortgage that’s At a lower rate if they bought you know A couple three years ago that is a great Way to sell your house sell it assume That mortgage and they get that rate That you had but you know we’ve got to Look into that and see what kind of line You have so and and I mentioned before Be ready to Make a decent offer right the aware that We are still looking at uh sales very Close to the listing price yep yep I I Did a market update on the community Last month and they were averaging 97 of Asking price which is pretty pretty Solid yeah and it was a community that The houses were built like between 2000 I don’t know five and 2010 maybe and so You know it’s holding us out quite well But they also the houses seemed to be Very properly place so okay yeah so Judy And I have I don’t know we have maybe a Handful of videos coming up Judy yep yep We just got to get some dates solidified With some people so yeah I just sent you An email about Cardell they’re building A North River Ranch yep Um we gotta we haven’t we have a new Model at crosswind Point Yeah yeah so they’re um pretty exciting On that side there they have 55 foot Wide Lots now or they had a more narrow Dot before they’re still offering both But they have a house that’s Takes advantage of that wider lot which Is fantastic okay Um Medallion Medallion homes we’re Expecting to do some Villas Um in Parish really nice And Taylor Morrison is doing more town Homes in Nokomis oh cool the whole Separate community of town homes Very very near Nokomis Beach oh that’s Nice and Coulter announced well they Announced in a realtor meeting but I’m Going to say it now right the culture Community coming to Parish it’s not Going to be a press one so it’s not Going to be as amenity rich as Cress one But we do have a new culture community That they’re clear and they’re actively Working on the The Land Development Right now and that is going to be a Great option for people too so no models Started yet but there’s still lots a lot Of stuff still happening a lot of stuff Still happening and we’re gonna stay on Top of it folks and I’m going to show You one more thing today I would like You to take a look at the newsletter That goes out every month Um that includes the report that we just Gave and lots of information about the Area Um and interesting articles updates on Transportation improvements and there’s Going to be a link in the bottom of the Uh In the description for you to send in Your email and get on that newsletter List Yeah so if you haven’t watched it yet Look for our hurricane video because we Think there’s a lot of useful Information there that’s been getting a Lot of views that’s that’s really it’s It’s as condensed as we can make it Because everything is important when it Comes to Hurricane preparedness a lot of Information did you get your windows in No so they’ve arrived Um signed a contract I think in April we Got through permitting in a month the Windows are in mid-august we’re going to Get our Windows uh so hurricane windows Are on the way Um but there’s an example of a vendor That two Cookie Monster and they kind of Hurried us along when you said as a Negotiating tactic because another Vendor could get them to us earlier so We’re like okay we’ll get them if you Can get them in by the state right so They manage somehow Um to do that but yeah Good deal okay Well folks we won’t keep be any longer Look for us next month Check into our videos please Subscribe like And comment below keep watching thanks a Lot bye bye [Music]
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