Market Updates

Market Updates

May 2024 Real Estate Market Report: Trends in Sarasota & Manatee Counties

Key Trends in May 2024: • Sarasota County: Single-family homes are seeing stable sales and rising prices with increasing inventory, suggesting a shift towards a buyer’s market. The condo/townhouse market is showing a decrease in sales, with decreasing prices and increasing inventory, indicating a potential buyer’s market as well. • Manatee County: Both single-family homes […]
LOCAL INFO, Market Updates

Understanding Assignability of Contract

Understanding Assignability of Contract By Meredith Caruso Many real estate contracts allow buyers to “assign” their rights and obligations under the contract, and sellers can suddenly find themselves working with Joe rather than Sally. What’s a Realtor to do? Ask the right questions – and don’t give legal advice. ORLANDO, Fla. – Florida Realtors® […]
LOCAL INFO, Market Updates

Calm before the Storm: Low Inventory, Price Up …
LOCAL INFO, Market Updates

April 2024 Real Estate Market Report: Sarasota and Manatee Counties

. April 2024 Real Estate Market Report: Trends in Sarasota and Manatee Counties Posted by: Communications Department on Wednesday, May 22, 2024 The REALTOR® Association of Sarasota and Manatee (RASM) today released its monthly market report detailing the real estate trends for April 2024. The data reveals a significant shift in the […]

Market Updates May 2024 Real Estate Market Report: Trends in Sarasota & Manatee Counties Key Trends in May 2024: • Sarasota County: Single-family homes are seeing stable sales and rising prices with increasing inventory, suggesting a shift towards a buyer’s market. The condo/townhouse market is showing a decrease in sales, with decreasing prices and increasing inventory, indicating a potential buyer’s market as well. • Manatee County: Both single-family homes […]

LOCAL INFO Understanding Assignability of Contract Understanding Assignability of Contract By Meredith Caruso Many real estate contracts allow buyers to “assign” their rights and obligations under the contract, and sellers can suddenly find themselves working with Joe rather than Sally. What’s a Realtor to do? Ask the right questions – and don’t give legal advice. ORLANDO, Fla. – Florida Realtors® […]

LOCAL INFO Calm before the Storm: Low Inventory, Price Up …

LOCAL INFO April 2024 Real Estate Market Report: Sarasota and Manatee Counties . April 2024 Real Estate Market Report: Trends in Sarasota and Manatee Counties Posted by: Communications Department on Wednesday, May 22, 2024 The REALTOR® Association of Sarasota and Manatee (RASM) today released its monthly market report detailing the real estate trends for April 2024. The data reveals a significant shift in the […]

LOCAL INFO 2024 RE Market in Sarasota & Manatee: Trends and Predictions The 2024 Real Estate Market in Sarasota and Manatee Counties: Trends and Predictions. See FULL REPORT HERE SARASOTA, Fla. (April 18, 2024) – The real estate markets in Sarasota and Manatee counties have undergone significant changes throughout the first quarter of 2024, reflecting broader economic influences and evolving buyer and seller behaviors. This press release […]

LOCAL INFO ** Foreign Buyer Registration has begun today … 1/17/2024 FREC’s Affidavit Rule Effective Today By Amy Connolly FREC adopted a rule to implement a portion of Senate Bill 264 entitled Interests of Foreign Countries. ORLANDO, Fla. – A rule containing buyer affidavits went into effect today, Jan. 17, 2024. It was created by the Florida Real Estate Commission (FREC) with the help of industry […]

LOCAL INFO Sarasota-Manatee Housing Inventory Climbs to its Highest Point for 2023 Housing inventory in both Sarasota County and Manatee County is on the rise, marking the highest number of listings reported this year in October. The latest data, sourced from Florida REALTORS® and compiled by the REALTOR® Association of Sarasota and Manatee (RASM), indicates an uptick in home sales and an influx of new listings added to the […]

Market Updates October 2023 – Sarasota and Manatee Real Estate Report Sarasota-Manatee Housing Inventory Climbs to its Highest Point for 2023 SARASOTA, Fla. (November 21, 2023) – Housing inventory in both Sarasota County and Manatee County is on the rise, marking the highest number of listings reported this year in October. “Compared to the rest of the country where home sales are declining in most markets, […]

LOCAL INFO SEPTEMBER 2023 HOME SALES INCREASE FROM LAST YEAR’S HURRICANE Posted by: Communications Department on Thursday, October 19, 2023 Amidst the lingering impacts of Hurricane Ian’s disruption to Florida’s housing market last September, the latest data from Florida REALTORS® paints a contrasting picture for September 2023. While closed sales registered an unusually high year-over-year growth, median prices stayed relatively stable. September-2023-Press-Release-and-Statistics

Market Updates Sarasota Is the Country’s Second Most Popular Relocation Destination PODS, the portable moving company, recently shared its top 20 list of cities people are moving to. Sarasota is No. 2. By Kim Doleatto July 13, 2023 Sarasota still tops PODS’ list as one of the most moved-to cities in the country. The portable moving and storage-solutions company recently released its third-annual relocation trends report, which […]

Market Updates July 2023 RASM Stats for Sarasota & Manatee “Buyers are facing a trifecta: historically low inventory, home prices that have risen for over a decade, and higher interest rates today than a year ago.” Jessica Lautz, NAR’s Deputy Chief Economist and Vice-President of Research JUNE HOME SALES INCREASE IN NORTH PORT-SARASOTA-BRADENTON MSA Home sales in Manatee County have increased year-over-year for the […]

Market Updates NAR’s 2023 International Sales Report: 23% in Fla – JULY 2023 NAR’s 2023 International Sales Report: 23% in Fla. By Kerry Smith https://www.ancestry.com/family-tree/person/tree/5343825/person/212495814034/facts International buyers face the same challenges as domestic buyers: Transactions were down 9.6% year-to-year, and the number of homes sold (84.6K) declined 14.2%. WASHINGTON – From April 2022 through March 2023, foreign buyers purchased $53.3 billion worth of U.S. existing homes – 9.6% […]

LOCAL INFO Out-of-Town Moves Didn’t End with Pandemic – April 2023 Out-of-Town Moves Didn’t End with Pandemic By Kerry Smith Number of buyers looking within their metro dropped 15.6% in 1Q, but the number looking elsewhere fell only 4.2%. Fla. has 5 of top 10 want-to-move-to metros. SEATTLE – The pandemic-era trend of buyers relocating greater distances didn’t end with the pandemic. While Redfin says searches […]

Market Updates International Real Estate Sales in Fla. = $15.3B (April 2023) International Real Estate Sales in Fla. = $15.3B ORLANDO, Fla. — Florida remained the top destination of foreign buyers purchasing U.S. residential real estate in 2022, with 24% of all foreign buyers who bought residential property in the United States, according to the 2022 International Transactions in U.S. Residential Real Estate report from the National Association of Realtors® (NAR). Florida […]

Market Updates March Market Stats 2023 “Manatee County’s single-family home market has bucked the trend we’ve seen in recent months, showing the first year-over-year increase in sales since February 2022 and the first year-over-decrease in median prices since February of 2019. Meanwhile, single-family home sales for Sarasota and the condo markets for both counties have followed an opposite trajectory in March, […]

Market Updates Citizens Insurance Seeks 14.2% Rate Hike – 3/29/2023 By Kerry Smith Increases vary by county and property, but only a few condo owners could see a discount. Some Panhandle and non-coastal counties may see the biggest increase. TALLAHASSEE Fla. – Citizens Property Insurance Corp. leaders approved a proposal Wednesday that would raise average rates by 14.2% this year as they continue to push […]

LOCAL INFO Downtown Sarasota multifamily projects move through review committee Four condo and apartment developments will bring nearly 300 new units in the city. By Andrew Warfield | 5:00 a.m. March 21, 2023 780 SRQ Condominiums will include 34 units, two of them priced as attainable.Courtesy rendering DSDG Architects Multiple projects adding to the housing stock in and around downtown Sarasota are making they way […]

Market Updates Home Prices Hold Steady in January, Despite a Downturn in Sales SARASOTA, Fla. (February 21, 2023) – The Sarasota and Manatee housing market starts off the year with a continued rise in the supply of homes for sale. According to data from Florida REALTORS® and compiled by the REALTOR® Association of Sarasota and Manatee (RASM), the month’s supply of inventory for both property types increased year-over-year […]

LOCAL INFO 5 Reasons This Isn’t a Repeat of the 2008 Housing Crash ( Dec 2022) 5 Reasons This Isn’t a Repeat of the 2008 Housing Crash December 15, 2022 Challenging Markets By: Melissa Dittmann Tracey NAR Chief Economist Lawrence Yun draws the distinctions between today’s real estate market and that of more than a decade ago. © BrianAJackson – iStock/Getty Images Plus Many homeowners are still haunted by the 2008 housing […]

LOCAL INFO We’re continuing to see a return to market normalcy …. (Nov 2022 Stats) “We’re continuing to see a return to market normalcy, where listings are closing sometime between two to two and a half months, and the months’ supply is increasing up to a two-to-three month supply, depending on the region and property type.” “It is too early to tell if prices are beginning to soften, as median […]