Considering selling your home, but aren’t sure whether it’s the right decision? If you want to know how the market is in Sarasota before you make a change, you’ve come to the right place.
The Sarasota real estate market is strong, and the details below show you why it’s a great time to move. Read on for a full update on the current market.
Sarasota Real Estate Market
The current real estate marketing is booming in Sarasota. You won’t find the red tide affecting the real estate market in Sarasota, or other bad news, it seems. The market overall is just continuing to rise.
1. Red Tide Not Affecting Sales
The number of sales and real estate listings has not gone down in Sarasota because of the red tide problem. While it seems some are looking to leave the area because of the algae, this type of case is few and far between.
The norm is still a booming real estate market, with a healthy uptick in percentage points when it comes to value. Homes are still increasing in value and are selling like crazy.
And it’s about to get busier. As the snowbirds come south for the winter, the sale of homes will rise.
2. Home Values Are Up
Since last year, the value of homes has gone up 5.2%. The median price of homes is $256,100, while the median list price currently is $350,000.
These values are nearly an exact representation of the national data, which puts the annual change in median home value right at 5.2% as well. The market has been on an upswing for at least 76 straight months, with no fall predicted in the coming year.
3. Homes Are Selling Fast
If you are hunting for a home in Sarasota, you need to be prepared to make a decision fast. This is true across the nation, with a national average per home of fewer than 30 days on the market.
Deciding to buy a home is a big decision, but if you don’t jump on a great house when you see it, you might find that when you make up your mind, it has already been snatched up.
One thing that can help you decide more quickly is if you have a list of requirements, or a wish list, for your new home.
What are the features you absolutely must have? You can use this checklist from the US Department of Housing and Urban Development to help you grade the homes you walk through and aid in your decision.
4. Who Buys Houses?
Typically the biggest group of people purchasing homes is first-time home buyers. They lead the pack at over 30%, and while that number has decreased by a couple points over the last year, it’s still the highest number when it comes to buyer statistics.
If you’re a first time home buyer in Sarasota, take a look at all the great things to do here.
Ready to Move?
It might be time for you to make a move, and once you put your home on the market in Sarasota, it won’t take long to sell.
Want more information on the Sarasota real estate market? You can email Shayla for a Market Inventory Report. You can also do a free home valuation to figure out the value of your home.