blog

Are We In A Buyer's Or Seller's Market? (Sarasota/Manatee County)

That depends on whom you ask. The number of months of inventory is one indicator. At the end of 2016, we had an increase in inventory of homes. By year end, Sarasota County had a 4.5-month supply of single-family homes, and Manatee County had a 4.4-month supply. According to the Realtor Ò Association of Sarasota and Manatee counties are in a "balanced threshold," meaning it is neither a "sellers" and or "buyers" market.

Founder, Gary Keller of Keller Williams International, has been bearish on the real estate market since August 2016, stating that all signs point to a "shift" in the near future. He told hundreds of realtors at the annual KW "family reunion" there are five indicators of a downturn of some sort. One of them is the numbers of days a home is on the market before receiving an offer. He said, "Days on the market are up, the supply of move-up and higher end housing is now growing, home prices are going down in some markets, unit sales are slowing and construction is flat. Only four times in U.S. history have home sales been higher, it's a sign of a shift."

Another sound indicator are "new permits" (new construction). I work and reside in Lakewood Ranch where mega homebuilders like Lennar Homes and Taylor Morrison are currently breaking ground on several new communities where thousands of homes that will be built over the next few years! Currently there are more local homeowners every day, that have built up more equity since the recession that are putting their homes on the market to upgrade or downgrade into new construction They are also seeking the lifestyle and amenities that these developers are offering within the community. This trend will continue as long as the economy continues to grow, (I am cautiously optimistic) with stabilized interest rates, and maintaining home values over the next 12 months.

temp-post-image

All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale. Availability of any listing should always be independently verified. Listing information is provided by MFRMLS for consumer personal, non-commercial use, solely to identify potential properties for potential purchase. All other use is strictly prohibited and may violate relevant federal and state law.