The home market in the Suncoast continues to prove its strength. For the second straight month, residential real estate sales rose in Sarasota and Manatee counties. Sales rose 2.5 percent during September in these metropolitan areas. This is after a 3.8 percent increase in August, which marked the first rise in volume after eight months.


Along with the rise in home sales, there were other recent notable trends in the real estate market regarding the types of properties being sold. The price for single-family homes in Sarasota-Manatee counties increased by a moderate 8 percent over the course of the year, with the median price at $259,200 in September. The median price for condos in the area was at $188,000, a growth of 4.4 percent. Although the sale of single family homes decreased slightly in the area, the sale of condos rose 3.3 percent.


Good news for buyers looking in Sarasota-Manatee? The stock of homes on the market is up 20 percent since last year, meaning more inventory for those home buyers out there. It is likely that homes on the market will continue to rise as sellers prepare for the upcoming season.


 

These market trends in Southwest Florida are reflective of trends occurring throughout many regions across the country. Home sales were up nationwide in September. Historically low mortgage rates and an improving job market have allowed more potential buyers to find their dream home.  


Now is the time to take advantage of the market trends in the Suncoast! If you are interested in Buying or Selling in the Venice area, give the Nick Flerlage Team
a call today or visit our website at http://www.experiencevenice.com/.