*Infographics show data for Sarasota County. Percentage change year over year. · Source - REALTOR® Association of Sarasota and Manatee (RASM)
A single-family home in Sarasota County costs an average of 27% more than it did last year and mortgage interest rates are 2 points higher than they were a year ago, which has a significant impact on first time homebuyers. However, the real estate market continues to show strong buyer demand with the majority of homes going under contract in less than one week. Closed and pending sales are still down from last year but there is some indication that supply is easing. “As we’ve been anticipating, it appears that the rising interest rates and inflation are beginning to put pressure on our local real estate market,” said 2022 RASM President Tony Veldkamp, a Senior Advisor at SVN Commercial Advisory Group. “While we’re still seeing fewer pending and closed sales when compared to last year, we are starting to see an increase in new listings and the amount of inventory of homes and condos for sale. In fact, Sarasota County has its highest home inventory in 12 months, with its second month in a row of positive year-over-year increases. Sarasota County’s single-family home inventory has risen to a 1-month supply, the first time since January 2021.”
Last month I was interviewed for LPF Advisors “Confident Retirement” podcast series with Kris Flammang. It covers a multitude of topics relating to the Sarasota real estate market.
WILL SARASOTA HOME PRICES FALL THIS YEAR?
HERE’S WHAT EXPERTS SAY
Many people are wondering: will home prices fall this year? Whether you’re a potential homebuyer, seller, or both, the answer to this question matters for you. Let’s break down what’s happening with home prices, where experts say they’re headed. READ MORE
FEATURED NEW DEVELOPMENT
ONE PARK I SARASOTA
Artfully designed and rising above the shores of the Sarasota Bay, One Park is a new construction development featuring 149 luxury condos located in the Waterfront District With world-class architecture and interiors, the 18-story One Park is bringing a quintessential lifestyle to one of Downtown Sarasota’s most sought after locations, Boulevard of the Arts. Featuring panoramic direct views from Bay Park to Downtown Sarasota and beyond, One Park offers an unrivalled Sarasota Bay lifestyle. READ MORE
This beautiful California Contemporary home takes advantage of the stunning views of the Ringling Bridge and downtown Sarasota. Murray Homes will start construction early June. MORE HERE
SRQ IN THE NEWS
SARASOTA NAMED ONE OF 10 BEST PLACES TO LIVE IN U .S.
The city also ranked No. 2 on the “Fastest-Growing Places in the U.S.” list and No. 5 on the list of “Safest Places to Live in the U.S.” READ MORE
PROM + GRADUATION
The end of the school year has been busy; our son Jack graduated from the AICE program at Sarasota High School. He is headed to Florida State University to study Business Management. Go Noles!
ABOUT BEV MURRAY
Bev Murray has worked as a highly successful realtor in Sarasota since 1999. Specializing in residential, vacant land purchasing and development sales, she was ranked for 2021 in the top ½ of 1 percent of over 50,000 Berkshire Hathaway HomeServices agents nationwide. Contact Bev today to assist with your next home sale or purchase. 941 724 4995 or email@example.com
“Bev was an outstanding realtor, very experienced, And personable, Made the transition easy and uncomplicated I would highly recommend her to do business with.”
- Jill C.