In each newsletter and video I highlight facts and figures within areas of our community that affect selling and buying decisions and property values. In this month’s video I want to talk about supply and demand, and how these numbers can accurately determine the strength of your position as a buyer or seller.
Perceived wisdom is, that in a balanced market – where buyers and sellers have equal footing – there are six months of inventory.
So let’s talk about three areas in Sarasota to determine exactly how the market looks right now:
- One of the most active markets in our area is Longboat Key condominiums. There are currently about 240 for sale and a 5.1 month supply, which tends to favor sellers.
- One of the most popular neighborhoods for active, walking lifestyles is the area called West of Trail community, west of 41 between downtown and Bee Ridge Road. There are currently 67 properties for sale representing 6.5 months of supply, which is pretty balanced.
- On the world-famous Siesta Key, there are currently 106 single-family waterfront homes for sale which is 8.6 months of inventory available. This neighborhood is currently slightly favoring buyers, and as I’ve written about before, is an example of the luxury market providing a hot niche for buyers.
But Don’t Forget
From my experience, regardless of whether the market slightly favors buyers or sellers, there are still only a handful of properties that will be a match for any one buyer. As always, be informed of the market conditions, and first and foremost choose the home which is the best lifestyle match for you: 941.587.0740.
