As reported in my recent posts, weekly and monthly updates, evidence is clear and data definitive that we are in one of the most dynamic pricing periods in years. In recent news released by real estate analytics firm CoreLogic, their chief economist says, “Although home price declines are slowly improving and not far from the bottom, home prices are down to nearly the same levels as 10 years ago.”
The attached report states that Florida experienced a 49% price decline from “peak to current”, the 3rd highest drop in prices in the country. Though inventory in our region continues to become more scarce at the move-in ready and new build categories and the economy is still somewhat fragile, the demand for Sarasota real estate is strong.
If you are considering selling, this is an excellent time to visit with a knowledgeable realtor, evaluate the comps in your area, price your property realistically and watch the offers come in. If you are a buyer, there are many extraordinary opportunities in our area and it’s best not to wait to put your offer in…strike while the iron is hot as they say!