Market Changes - The Worm Has Turned
THE WORM HAS TURNED
The first half of 2019 has seen the real estate market evolve. At the beginning of 2018, homebuyers were crying out for more inventory and for prices to stop their upward spiral. As 2019 rolled around, their wishes were being granted. In accordance with the cyclical nature of real estate and the economy at large, we have begun to see a drop in the pace at which home prices are going up, houses are taking longer to sell, and there is much more choice for buyers, who are further incentivized by low mortgage rates. The worm has turned. However, sellers do not need to panic, home prices are not necessarily falling – in fact in April 2019 single family homes prices in Sarasota County rose 1.5 percent – but they cannot expect the same level of buyer interest and activity that they have enjoyed over the past few years. Sellers need to respond to the increased level of inventory (competition) with a home that is well prepped and reasonably priced. Buyers are out there, savvier than ever, but ready to make a move.
Lido Key - 2,742sq ft - $2,100,000
- • New construction - ready to move in
- • Coastal contemporary style
- • Single-level open plan living
- • 10’8” ceilings
- • 3 bedrooms + office, 4 bathrooms
- • 3 outdoor terraces
- • Heated salt water pool
- • Huge 1,193 sq ft 5 car garage
- • Designated walking path to beach
- • Endless Gulf of Mexico sunsets
NEW PRICE WEST OF THE TRAIL!
PRICED BELOW APPRAISAL - $1,995,000
Sarasota West of Trail enclave, tropical gardens, Sarasota Bay views, community bayfront dock and a stone's throw from downtown Sarasota. 4 bedroom, 5 bathroom, formal living and dining rooms, elegant office, 570 sf covered verandah, elevator, and two balconies! Contact Bev Murray to experience this wonderful home. VIEW FULL LISTING
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