Especially for Sarasota REALTORS®
It’s the prediction of the more than 3,000 REALTORS® that were recently polled in May to expect an upward trend nationally of about 4 percent over the next 12 month period. This is based on the transactions of those agents in the month of April.
There is definite reason for some states to have a larger smile than others when referencing this increase. Take our home state of Florida for example. Here in the Sunshine State, we are in the midst of low inventories of available homes which are up against a high demand.
Let the “Sunshine” In
This is expected to inject energy into the prices of the home market in our great state. How much is yet to be determined, but, the expectation is to see between a 5 percent and 7 percent upwards swing over the course of the next 12 months. This is very good news.
The Rising Tide in the Market Floats All Boats!
Rising home prices, at face value, don’t appear to work in the favor of buyers. However, it’s quite the contrary. Take a market like ours (Sarasota, Florida) for example. When Sarasota home prices remain low, homeowners are extremely unwilling to put their home on the market for sale for fear of losing money.
Considering the current “state” of affairs, wherein there is an abundance of current willing buyers but a shortage of willing sellers, appreciation of homes drives more sellers into the market. This begins to balance the equation by providing to the lot of waiting buyers some actual properties to purchase. Without appreciation, there would never truly be enough homes on the market to satisfy demand.
The Treasure That Is Sarasota
The real motor that is driving Florida’s overall appreciation is right here in Sarasota, FL. With the beauty of our properties, world-renowned beaches, and immediate access to all manner of fine dining and entertainment, it’s not hard to see why our homes are appreciating in value. Sarasota is truly the jewel of Florida.
Ready to Enter the Sarasota Real Estate Market?
Ready to see what homes are now available? I’m Dennis Kotaska. My wife Terri and I would love to chat with you about your next home in the Sarasota area. Give us a call at 941.840.1147 or email us for an immediate response.
Until our next post,