September in Sarasota has been on FIRE. And if it’s ANY indication as to how season will work itself out – we will be in for a busy busy ride. Cash sales are up 40% from this time in Sept ’22. DOLLAR volume is surprisingly UP. Average and median values are up but just a bit at 1.8% from this time last year as well.

The overall luxury market demand from buyers are still move in ready properties! Affluent buyers still want a place that is safe and promises solid returns.

But we have so many more juicy details in the video so please watch in its entirety! And THANK YOU so much for tuning in whether you’re NEW to my channel or an “OG!!” It is so appreciated, as are your comments and feedback 😉

If you or someone you know is considering moving to Florida, this channel is definitely for you, as Shayla hopes you’ll be able to get a feel for the broader area from afar! She’s really been enjoying the journey of showcasing area neighborhoods, providing you property tours, and introducing you to the people and their locally owned and operated businesses. From parks, to restaurants, sporting events, theater and of course the world renowned beaches and waterfront activites, her goal for the channel is to show you how incredibly rich and diverse the Sarasota, Florida culture is and how incredible it is to live and own here!

And if you’re a seller, or considering selling in the area, Shayla wants to ensure that when you decide to list your home, she understands it’s a big decision. Trusting in an agent who knows the market, understands the shifts and how to maneuver through negotiations on your behalf, market and sell your home for the highest dollar amount and best terms possible is critical – and a must in today’s economy. She has proudly been serving all of her clients since 2002 and has thoroughly enjoyed the ride! She is so grateful to each and every client put into her path and thanks you!

And if you’re relocating to another state, outside of Florida, Shayla can assist in that process too, as part of the numerous services that both she and Coldwell Banker Global Luxury provide. Together their reach is far and wide. From Coldwell Banker’s over 100 years in the business, and the company’s worldwide agents, along with Shayla’s international travels and diverse language background, rest assured that placing you with a competent and knowledgable agent is a top priorty as well.

Florida is the nation’s premier travel destination for vacation, relocation and retirement… and Sarasota tops the list of beaches as well as a hub for those with the affinity toward fine arts, culture and exceptional cuisine.

But don’t take Shayla’s word for it, compare to other areas and check out down in the Miami market for wildly different insights.

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That time again guys we missed we missed The August end of market update we were In Germany yeah yeah so end of September As we sit here end of October we're Going to talk to you about all the stats That are actually kind of surprising This month I think these are going to be Interesting so stay tuned all Right alrighty then are you ready for This yeah I bet you I'm way off because You always you always quiz me and ask me Questions of like okay what do you think The dayson market is I'm going to be way Off I have no idea because I think as as Crazy as it sounds I don't think our Prices have moved all that much um I Think daon Market is going to go a bit Higher because it is taking a little bit At least my perspective is it's taking a Little bit longer to sell properties Yeah but properties are still selling so My guess is our inventory has probably Come up a little bit okay days on Market These are my guesses days on Market is Definitely up but I don't think the Prices have moved much well you're You're pretty accurate so listen September September sales hover around The same as both August and July this Year so August and July this year 2023 yet it's still like what is the Average price I guess I know I know I'm Jumping ahead listen I'm very organized So know not at all it's still a

40.1% increase in closed sales from this Time last year that's huge so I would Think it would have been down on the Closed sales I would have thought so too But I I have noticed though it seemed to Me last year we didn't start getting Busy until the end of October yeah you And I are really busy right now we Ramped up we are really really busy we Got some pretty incredible listings that We can't quite tell you because we're Within the MLS period for compliance and There's rules for that but like we've Got some uh pretty spectacular we have a Lot of Waterfront coming up we have one Really large Waterfront we again can't Say where it is but we have a really Large waterfront property Gulf to Bay Down in Minnesota coming up we have a Property that's on a canal that'll be Listed we think we're going to be Listing that November first or second Soon great great great opportunity under Two million and then we think we have Another listing oh coming up um that Will be um we're looking up in the Cortez area we think we have another Listing that should be coming um there That'll be in the million to million 2 Range different Market cuz it's Mainland But anyway we digress we we busy right Now I I guess the whole point is last Year at this time we were starting to Pick up we're already picked up and you

And I it's a big difference from last Year I think it's a huge difference and I think we're both really busy right now But I'm also noticing that you know I I Have a property that I closed on today Um my myid Ranch Liquid Ranch my client Bought it for for million um we sold it For six for 960 so he he lost about 40 Grand on the sale but he um the house Across the street identical house to his The house across the street is on the Water they dropped the price to 8.99 Which makes it really hard to Compete why and and that's why it's so Important that you have an agent that's Living eating breathing real estate Because we are like watching the market Like that I closed the house 61 Grand Higher than their list price they're Probably going to get less than their List price it's really important that You have a sharp agent it's really Important you have a strong agent that's Going to negotiate well by the way the Buyers of this property came in Initially at a really low offer their Second offer was less and and was can do That sometimes I don't know which was Really bizarre to me and in the end we Ended up getting a a really decent price Um I think everybody's happy in the deal But I I just think that prices have come Down a little bit and especially Compared to a year and a half two years

Ago but when you listen to the stats It's a bit of a contradiction it is okay So let's let's talk with the next ones Yeah so the next comment I was going to Make is general home prices are Maintaining their value right they're They're experiencing a marginal decrease So you know I think now sellers are Understanding like it's not what it was Two years ago and three years ago right And the ramp up to the coid time so I Think people understand that and then Also especially the under five 00 Market The interest rates are really really Really impacting those those buyers so I Have a listing in Las palus right now uh Which is really to me I I sort of tell Everybody if you're looking for a really You know really cheap condo that has Lots of amenities last palus is really Where it's at and check out the video we Did a whole video tour of last palus in Greater area so please check that out Because it's still active as we sit here It is and and we've dropped the price Down to 319,000 but what's killing People is The interest rates because everybody in That price range generally is it's under 500 and normally I would pivot away from Okay well then I don't need somebody Who's going to buy it and live in it let Me find an investor it doesn't work for Investors either because the HOAs and

The taxes on the place make it to where If you buy the property unless you're Putting 70 or 80 or 100 Grand down it's Basically a break even proposition You're going to be making about way the Mortgages on well but there's um we've Got great uh lenders by the way had a Great meeting With one of my preferred lenders which Is uh uh Brandon and Melissa Terry of The Terry Mortgage Group they're Wonderful shout out to you guys for um Bringing all their agents together and Keeping us informed and they have a Program like a lot of Realtors do of the Sellar buy down for the buy down rate so If there's room in the price if there's Room to negotiate anything that would be One thing especially for these clients That are really tight on the numbers That and you know I'm I'm doing a deal Out on CS key I put under contract on Friday um $760,000 and I'm I'm using Shane Hansen who's who's a guy that I've Known for over 20 years he and his wife Um and interestingly enough um we're Going to finance it traditional but There's a question as to what type of Condo it was which was going to change The financing condo hotel condo hotel Versus condo if it ends up being a condo Hotel he has a portfolio loan where he Can go in with basically five or 10% Down even on a portfolio loan so there

Are other products out there but the Reality is is that you have to have Money and that's just you know if you Don't have if you're really trying to Struggle to scrape together the down Payment now is probably not the time for You to be buying because the interest Rates are high you know what used to be I used to always think in my head $100,000 is is a $600 payment so for Every hundred grand is600 now for every $100,000 is about $800 and that you know People out of the market quite frankly And especially Island inside L do and That's why we love cash and cash is up By the way I'm skipping ahead but more Cash sales which makes a lot of sense I'm surprised we didn't see this sooner But 40.2% increase from this time last year In cash which to me I thought was going To be even more because of everything Right but I I just think that um the People who are sitting on cash whether It's in the market or INE equity in Their house uh it's still a great time For them to buy right and especially Here in Sarasota because the values are Holding tight you look around the Country even at luxury real estate Prices have come down nationwide they're Not here in Sara not and I'm telling you Every morning and throughout the day When I'm in the car I listen to podcasts

And I mean the consistent message there Around the country is that sales are Down sales are down yep sales are up Here prices are holding their value or Up slightly so I mean I again I was Shocked to see that because I I would I Kept hearing over and over on these Podcasts so median prices to holding Firm from last year 494 right again you Know and there's pocket areas that we Are seeing multiple offers very not very Many right but if you price a property Cor correctly um I just had a multiple Offer situation on another property Recently this month yeah I mean you're Still seeing that a little bit but what Has really dried up is exactly what you Said if it's not priced properly people Are not even coming to see the Properties you know whereas people would Come and be like well I like the house But it's priced a little high if you're Not priced properly right now you are Killing yourself in the market and the Thing is too when you list a property it Could be priced exactly right on the Money but things can change and I'm Seeing that very much so whereas in the Last two years you can't really compare You can't help but compare you know they Went quickly and at whatever price but Now that's why say it's so important That we really keep an eye on each Listing right that we take and it could

Change like you could have one go Pending and in talking to the agents Around the area it's good to keep keep Those Communications open because I was Talking to one where I knew what the Price was going to be they're not Supposed to tell you right and so it was I was looking at my listing saying now We're overpriced right and they can Change just like that I I think also if You're looking at using a brand new Agent right now where you headed with This well I And I'm not going to tell the property I'm not going to give the property name But I am GNA say we we sold two Properties um out on Long V key on one Street and we were talking to some People and we told them look you know if We're going to list it we're going to List it at 1.35 million and they hemmed And Hau and didn't really want to sign With us and eventually they found an Agent to list it at $300,000 higher that property nobody is Even going to look at that place yeah as Soon as they see the square footage as Soon as they pull up to the lot people Are not going to get out of the car my Point is you really right now okay you Go back two years ago in the market when Everything was just selling you could Use a brand new agent and you'd probably Be fine they could be breathing and just

Just if you showed up you got the list It was really easy if you are using a Brand new agent that has never Transacted property or hasn't transacted A lot of property and you are using them Now in this market when things are Tighter then think you are absolutely Doing yourself a disservice because You're not going to be able they're Never going to get a price anywhere near That and what ends up happening is They're 300 to $350,000 too high it's Going to sit for a long time then They're going to drop the price nobody's Going to come look at it then then They're now they're chasing the market Down such a debb down eventually they're Going to end up selling the property my Guess is at 1.2 million because if they Just listed at 1.35 million properly it Probably would have sold at 1.3 million But you know sometimes it takes a seller To wa like you know it's a Psy Psychological thing they feel like They're going to give their house away But really if it's not worth that to Begin with you're wasting time paying Taxes maintenance Insurance all that so I understand I probs are sale listings Are stale listings like if something has Been on the market for eight month They're to offer you less than what you Would have gotten if you pric it Correctly right and put under contract

Within the first two weeks right right And listen I'll be the first one to say I have made this mistake where I priced Something too high and I didn't move Fast enough to get the the reductions in And then you're chasing it down like Everybody else and you're just chasing The market down and instead of getting a Really nice number when the market was Hot we ended up with a number that was Still good it just wasn't great so I Have another example before you go Continue on so I listed a property in Nomus I took it took it over it was Listed for over five months I went in I Staged it I asked the seller to you know Do do a few things are cosmetic and Really he didn't spend any money we did A tiny price Improvement shop proper Photos and professional photos Professionally just put together I take A lot of time on my remarks the way that I do my SEO remarks the the uh Description of the property I don't use Chat gbt I've played with it but I I Curate each dialogue of my property Specifically so people can find it it's So unique to you know each indiv idual On each property bottom line is it went Pending in seven days it's been on the Market for five month the market for Five months tiny price $5,000 reduction Basically no no red it was a $5,000 Reduction not very much right at the end

Of the day and it went pending so like Let's hope it stays together right right That's another story but staging matters Pricing matters hiring a pro matters Going down and doing all the video we've Got all the video on that property check It out on my page so you can take a look At it sure so when I say dollar volume Is up I don't mean by a small margin Right it's actually up okay from 2022 in September by 41.8% at 440 million in closed Transaction what that tells me is that There's more expensive properties are Still selling because the volume of home Selling isn't changing it's the more Expensive homes are still selling and They're still selling all cash so again The interest rates are not affecting That high-end Market because the people That are over generally speaking my Experience has been when you go over a Million and a half most people are Paying cash I mean that's just the way It has people great they might pull from Investments or whatever it doesn't Matter sure um okay and so all right When you list a property versus the Selling price ratio that's the ratio We're we're talking about and it's Uh up from oh up slightly from from 95.8 to 96.2 a small margin but generally Speaking you're going to have properties

That are a mess that that you know that Are that Gap is going to be a lot larger On that are going to skew those numbers Down right always but 96% means four 4% Off of the listing price that's not very Much that's not very much in a healthy Market just so you all know it's about 95.5% or even 95% and that would be an An equilibrium Market which is about a 5 To six month level of inventory so right Now we're at about a 3.5 month inventory Still not an equilibrium Market an Equilibrium Market would be the five to Six months like I said and also we have So much demand here we have an average Of 835 people net right per day moving To Florida well I I think I think that Something else that's interesting to me Is that when people ask me what is the Market doing all day every day I mean It's you know that's the first question We always get generally speaking my Answer to that is in in which Market are You talking are we talking the ultra High-end luxury Market are we talking The million to million to three million Market are we talking $500,000 under Those markets are vastly different and Is it Sarasota city is it Islands I mean You really have to segment the market And be very hyperfocused in a niche so Our Niche would be definitely Island Waterfront gearing more toward luxury But listen I sold

Like the least amount was last year was Like 199,000 to me every property and Every person is unique so we don't want You to ever think I don't want to call Them because they only do Luxury we do Everything we' focus on luxury we do but I even think I mean look my I think my Smallest one was 417,000 last year it's A great little but I sold it to an Investor that I brought so like having Having a luxury agent can also help you Even if you're in that lower price point The database of buyers buyers that are Not just buyers that are buying Expensive property but they usually are Investing in property as well um I ended Up having both sides of that deal Because of that so I would say call us Like we we'll take on a a smaller proper Absolutely call us no matter what and You know hopefully we can I'm sure we Can help you so now shifting gears a Minute um I did look to the now shifting Back to luxury I did look at the Institute which we are both part of the Institute the certified luxury home Marketing Institute which you're Certified in you to actually prove that You've sold in your upper tier every Year yeah so this is an actual like You'll see all these realtors that have All these initials after their name These are all these classes that they've Taken over the years which is wonderful

I think education is wonderful but it Doesn't mean much like at the end of the Day whereas clhms really it actually Means they've sold luxury properties not Just one because any agent can just get Lucky on one property you have to show Like three within the last six months Three the last six months perent Over a certain dollar amount that is Coordinated with your community as well Because what's luxury in Dayton Ohio Maybe $700,000 here in Sarasota I Believe it's 1.25 or 1.3 million and Above so you have it's also by the ZIP Code by the Z you have to have sold at Least three of them you have to show That you have Proficiency in this right And so and there's a whole network Behind it too which is great for you if You're a client whether you're a buyer Or seller because I personally if I'm Referring a $5 million listing to Someone in Ohio I'm gonna look to co Banker and I'm GNA look to clhms and Then I know and maybe Zillow as a like Last re but ideally they're gonna have The clhms even if it's not luxury like If I'm referring I I refer to a client Of mine that sold this house here in Sarasota and I think we sold it for 650 Or $700,000 he's buying a tiny little place Up in Michigan I still call the luxury Agent up there because they're still

Going to take the deal I know that They're proficient I know they'll take Care of them I know and and sure enough The deal got done in a week quick quick Easy deal it was great yeah so great it Helps you tap into kind of the higher Tier Realtors yeah I'm just that's I'm I'm obviously and we get calls too from Agents around the country I get a couple Two three a month and it's a wonderful Source of referrals business for us as a Team so we love that and thank you y so But anyway back to the report the report States that the month of September is Often considered to be a good barometer For the status of the real estate market Direction I would concur because it's Kind of a weird in between month before Fall and the holidays but if this is any Indication of what's coming we're gonna Be because we are Gang Busters busy Right now well again this is September Still remember we were we were still in J starting yeah you okay in the week That we were in France you had four Closings right so that tells you this Year if that's if we're using that as a Barometer this year this year should be Busy we should be bu so usually in September October and early November are The second busiest sales of the year but Upon initial review it's showing a much Slower market for sales both single Family and attached are declining by

4.8% relative to this time last year in September that was uh okay yeah next up Inventory levels have increased by 6.7% Now this is Nationwide so this is from The luxury report Nationwide so that's Well listen we've needed an increase in Inventory Nationwide We need we need a we could use a bump And increase in inventory here it's just Not happening because the properties are Still selling I mean you know in some of The properties that are selling I'm I'm A bit shocked I mean you know properties If it's Waterfront even if it needs a Ton of work those properties are still Selling right and case in point the People that are waiting on the fence for The interest rates to go down listen or The prices to go down because of Interest rates Nation Nationwide prices Still remain strong at 4 .5% growth for single family homes I Mean so like listen it's a silly Argument this is a thing okay if if You're waiting for it to come down 2% Right what the interest rat interest Rates let's say you're buying a $2 Million house right so you're talking About $4,000 a year on a $2 million House in additional in savings about $3,500 the problem is is that when the Interest rates come down the property Values are going to Skyrocket up so You're going to pay 500 Grand more

Demand will you're going to pay $500,000 More and you're chasing $40,000 in Savings you're upside down by $460,000 It makes no sense I would say you want To capture the property now at the low Value wait until rates change and when They come down you know basically Refinance problem and listen we're not We're not guaranteeing that you know the Interest rates are coming down we don't Know when and if it might even go up and Then down or and hover and then go down We don't know and like we're not sitting Here promising that the rates are going To go back to ridiculously low two and My guess is my guess is this like over Over history what has been normal is Four and a half to five and a half Percent what we've had in the last three Years of this two and a quarter or two And three qus percent that's not normal Neither is eight% right my guess is We're probably gon to end up back around Four and a half or five percent and then You know and then we'll be at a really Well but again when those rates come Down it the demand is going to go way And and the luxury Market will be what It is now But the demand for the 300,000 to the $800,000 prop you know property because Those interest rates come down those Property values are skyro so I'll leave It on this these are the two biggest uh

Takeaways here that you know there's Still demand the market does not Currently follow any traditional Norms I Think we all pretty much whether in real Estate or not you kind of know this does Follow traditional Norms um and then the Second thing is in what's in the the Most demand the properties that are Moving ready this is nationally again Right so the most demand properties that Are selling the fastest ready prices are Moving totally totally renovated moving Ready and quite frankly e even and Almost especially if they're furnished Here in Florida because people are Having a hard time getting Furniture if It's yeah renovated moving ready and Furnished those properties are really in Demand the other thing too I sorry I Have to keep going because I think it's Important the most affluent buyers are Focusing on Market stability Florida Right and potential returns Florida so The property I'm listing is um it's Going to be an eight figure property and It's going to be pushing up the market In this particular area but it's got so Much to offer and they paid about half Of that about three years ago and if That doesn't show you right in that case In point I mean generally speaking if Someone bought two three years ago the Prices have almost doubled where are you Going to put your money that's

Safeguarded well you look at other parts Of the country I if you look in Chicago Prices haven't moved and have come down Because of the issues in Chicago if you Look in all of the Midwest traditionally Has never really seen these big spikes But there also isn't any profit there Either I mean you're you're still see Cold you're still seeing really great Returns here you're still seeing you Know are you seeing um you know I sold a A condo out on Longboat two years ago Almost to the date I mean I think we Closed on the 31st of October or two Years ago and um it was $440,000 in the One month from the time we put it under Contract when we closed it was worth a 100 Grand more we're not seeing those Those crazy increas well a month after That it was worth another 90 grand so it Was in in a month two Monon period a $440,000 condo went all the way up to Like 625 Grand so it's a huge increase We're not seeing those increases but the Rest of the country is seeing these Declines and we're not seeing those Declines at all it's not declining I Mean our airport is exploded our little Baby Sarasota airport it's so busy and You know we talk more we can keep going On and on about this yeah but I hope you Thought that this was helpful maybe a Little entertaining um feel free to Reach out if you ever have any questions

About like hey you know I saw your video About the the statistics what do they Look like now feel free to reach out any They're always changing um I get excited To see the end of the month stats Because I'm like was I right was I WR Was they far off so um and by the way we Want to hear from you if you're looking To purchase property and you want to Relocate to beautiful Sarasota or the Surrounding areas we would love to hear From you or if you already own here feel Free to reach out anytime you can call Me directly on my sell at 94158 62460 And I could be reached at 941 54476 N0

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