It is a repetitive statement- all remain amazed at activity in the housing market during these times. America is moving up, moving away, downsizing, expanding, moving in and moving out……..its happening folks! The pandemic has caused us all to sit back and think about what is important, and it appears that the home weighs in high on those thoughts. Do we have too much; too little; need more or need less? America is on the move to new homes, new locations, new work spaces and new lifestyles.
In the words of Lawrence Yun, Chief Economist for the National Association of Realtors, “the balance of 2020 continues to look bright for the national housing sector”, and I couldn’t agree more. The single family home market in Sarasota and Manatee Counties is seeing exceptional numbers in closed units, volume and price. We are experiencing minimal days on market and, many times, multiple offer situations bringing top dollar for sellers. Our sweet spot for the highest demand seems to be anywhere up to $450,000. Multi-million dollar homes also seem to be moving at a more rapid pace than in recent years.
With higher taxes and cost of living, more and more individuals and families are looking to call Florida home. Whether from New York or California, they are coming from afar to the sunshine state to maintain more of their money instead of giving it away in taxes. With so many being able to work remotely, a job is no longer a reason to stay put. Read more here
Sales of single family homes and condos are up in the two county area. Inventory and median prices are also up AND interest rates are down! Read the full stats report here