July 2024 Real Estate Market Insights for Sarasota and Manatee Counties

Who wins; Buyers or sellers? Wathc as Mike breaks it all down for you!

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The real estate market in Sarasota and Manatee counties has shown a mix of trends as of June 30th, 2024. Here’s a comprehensive look at the current landscape and what it means for buyers and sellers. 

Market Overview: 

Increased Listings: The number of properties listed has surged by 72%, reflecting a significant increase in supply.

Decreased Sales: There’s been a 13% drop in sold properties, indicating a potential slowdown in buyer activity.

Rising Pendings: Properties under contract are up by 6%, suggesting a future increase in sales.

Falling Prices: Average property prices have dipped by 3%, a trend to watch closely.

Extended Days on Market: Homes are now taking 39% longer to sell compared to last year.

Increased Inventory: Inventory levels have nearly doubled, up by 99%, pointing to a neutral market.

What Does This Mean for You?

For Sellers:

With increased listings and longer days on the market, it’s more important than ever to make your property stand out. At Team Renick, we offer expert staging, professional photography, and a strategic marketing plan to ensure your home gets noticed. Our data-driven pricing strategy helps attract serious buyers while maximizing your return.

 

For Buyers:

With more inventory and falling prices, now might be a great time to find your dream home. Our customized home search service and strong negotiation skills ensure you get the best deal. We guide you through every step, from finding the right property to closing the deal smoothly.

 

Market Trends and Predictions:

While the market shows mixed signals, national experts predict stability in the near future. Prices may continue to adjust slightly, but the market is expected to level off. Stay informed and work with a knowledgeable agent to leverage these trends to your advantage.

 

Conclusion:

Navigating this complex market requires expertise and a strategic approach. Whether you’re buying or selling, Team Renick is here to help you succeed. Contact us today at 941-400-8735 for a personalized consultation..

 

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