Inventory in all price points is still at historically low levels, and demand remains high. Prices in our region continue to grow at a healthy pace, leading me to believe that The Sarasota Real Estate Market will stay stable during the bumpy economic months ahead.
As The Sarasota Real Estate Market normalizes, meaning that supply and demand gaps are narrowing, our market foundation is strengthening and key fundamentals stabilizing.
Among the most desirable markets, Sarasota is still considered a “value pocket”. Our region offers an enviable lifestyle at a good price, and luxury tier buyers are drawn with the expectation they are making a good investment.
I feel optimistic that the stabilizing prices, growing inventory, and continued high demand for purchasing properties in our region will result in a more normalized pace of activity in the fall and winter season ahead.
As long as demand outpaces supply, even with shifting market conditions, the region’s home price appreciation, pace of housing starts, and ample demand, will serve the Sarasota Real Estate Market well in the months ahead.
February chalked up another month in the Sarasota Real Estate Market in which sales and contracts signed exceeded the number of new listings driving further price appreciation.
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Michael Saunders & Company
440 Gulf of Mexico Drive
Longboat Key, Florida 34228