Blog

Nov
01
Get Ready for Strong Winter Home Sales in Sarasota FL

The Lull Before the Storm

It's time to get excited about what our real estate market has in store for us during the winter season. We can already take notice that we are seeing a new and improved market from last year’s numbers. The numbers are in for September alone, yet they are not as impressive as last month, we are still improving from last year’s numbers. The chart below represents the number of homes and condos sold showing that the numbers are down from August to September but have increased 14% from last September.

September has proven itself to be the lull before the storm as we had a really active summer and we are now approaching the busy winter season. If these numbers from this summer are any indication of what to expect from the busiest time of year for realtors, I say hold on to your hats because we are in for some serious activity. Just to take a look at the activity we have experienced this summer, take a look at what kind of activity we are seeing with properties going under contract.

With all of this activity our current market is generating we are experiencing one obstacle to overcome, available inventory. With the market being as active as it is, the ability to sell inventory hasn’t become nearly as difficult as it is to obtain available inventory. The market for inventory has dropped to the lowest we have seen this decade. Every year that number has become smaller and smaller from 4,430 properties last year, to 3,504 Properties for the month of August, and 3,460 in September. One of the results of the shortage of supply just happens to be that prices are increasing with our active market and our clients are starting to understand that they need to be proactive in making their decision to purchase.

With this much needed positive activity in today’s market, we are seeing more foot traffic in open houses, more showing, more offers, and higher selling prices. What does this mean for the future of our market? Buyers are being more aggressive with their offers as there are generally multiple offers on properties now. Sellers are more inclined to list their properties as they are more likely to get an increase in return as opposed to last year. This is good news for both parties as well as the professionals involved in the real estate profession. Take a look at the increase in selling prices for this month compared to last month and the year before.

Taking a look at all these statistics only makes me more excited to see what the real estate market season to come has in store for us. We are coming to the calm before the storm in the next few months, but I do believe our market will hit new highs and records since the economy took its nose dive in 2008. The only concern I see is of course our extremely low available inventory. My hope, is that with the price and activity trend, the economy will help our sellers on the fence make a decision that now is the time to sell. It won’t take as long to sell and they will be able to have a higher return on their property then they would have in the most previous years.

This type of buyers market market doesn't come along often. If you've been considering a purchase or sale of your home, we're happy to answer your questions. Please don't hesitate to contact us at (941) 284-4474 or Toll free (941) 404-4737. One of our qualified agents will gladly get back to you.


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 Keller Williams Island Life Real Estate         The Coffey Group Fine Homes International                   Longboat Key Island Office               Coffey & Divald Property Management

 206 Harbor Drive S,                                                        646 S. Tamiami Trail                                5350 Gulf of Mexico Dr Suite #205                                       1491 2nd St, Suite B

Venice, FL 34285                                                             Osprey, FL 34229                                           Longboat Key, FL 34228                                                Sarasota, FL 34236

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