2022 REAL ESTATE MARKET RECAP

2022 was definitely a game of two halves. It began at a crazy gallop with record low inventory and soaring prices and ended at a more leisurely trot with increased inventory and fewer sales. There are three times as many properties on the market than there were a year ago and they are taking on average 3 1/2 weeks instead of 1 week to sell. The median single-family home price rose almost 25 percent and condos went up 22 percent from 2021.

Inflation, cost of living and a sharp rise in mortgage rates contributed to the swift turnaround in 2022, however it is still a seller’s market. According to Dr. Lawrence Yun, chief economist for the National Association of Realtors®, inflation has been dropping over the past six months, and “consumers can expect mortgage rates to soon follow.”

Anecdotally, the sentiment among my peers is that we are back to what we would class as a “normal” market. Demand is still there, prices are stable and affordability is slowly increasing. 2023 is shaping up to be strong and busy.

MARKETREPORT JANUARY 2023

BUYING VSRENTING Change Your Life

Sarasota real estate expert Bev Murray talks about how and why buying really does have the power to change your life!

IN THENEWS NEW DEVELOPMENT

Construction of a new residential tower under the Ritz-Carlton banner could begin this year at The Quay in downtown Sarasota. The 20-story, 74-unit Ritz-Carlton Residences will sell for between $3.5 million and $11.5 million. READ MORE

JUSTLISTED PHILLIPPI CREEK WATERFRONT LOT I $850,000

Bring your builder and your dreams! Stunning 0.4 acre of secluded prime "Old Florida" property on the coveted west bank of Phillippi Creek, close to town. This 17,400 sq ft lot boasts just over 100' of waterfront on a wide section of the waterway. There is plenty of room to build the house of your dreams on this beautiful parcel. READ MORE

LIDOSHORES MODERN WATERFRONT I $12,500,000

This masterpiece of contemporary living is under construction at Lido Shores. Built by leading luxury homebuilder Murray Homes, the residence and guesthouse have private deeded beach access and 180 degree waterfront views towards downtown Sarasota. Don't miss out on this rare chance to dream big, build better and live well! DETAILS HERE

FABULOUS OPPORTUNITY TO OWN FORMER MODEL HOME ON ONE ACRE IN COVETED VILANO I $1,395,000

This beautiful 4 bed + den, 3-car garage home is nestled on a 1 acre lot. Large outdoor living and dining area, heated pool and spa, spacious great room and kitchen, plus dining area / den or office. Owner's suite has volume ceilings, two walk-in closets and a huge bathroom. Large garden with beautiful old Florida oak canopy. READ MORE

SALE PENDING

ECLECTIC CRAFTSMAN COTTAGE INDIAN BEACH SAPPHIRE SHORES I $449,900

This beautiful 4 bed + den, 3-car garage home is nestled on a 1 acre lot. Large outdoor living and dining area, heated pool and spa, spacious great room and kitchen, plus dining area / den or office. Owner's suite has volume ceilings, two walk-in closets and a huge bathroom. Large garden with beautiful old Florida oak canopy. READ MORE

MURRAY FAMILY WEST COAST ROAD TRIP