Real Estate Market

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Featured Listing

For Sale: $175,000

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The Nick Flerlage Venice Area Real Estate Update:

Local Market Housing Report

Note: Data below is from July, the most recent data compiled by the National Association of Realtors®.

 

While July's listings went under contract in less than 30 days for the fourth consecutive month due to high buyer demand, overall sales of existing homes declined as sales dips in the Northeast and Midwest outweighed sales gains in the South and West, based on data from the National Association of Realtors® (NAR).

 

Total sales of existing homes -- measuring transactions for single-family homes, townhomes, condominiums and co-ops -- dipped 1.3% to a seasonally adjusted annual rate of 5.44 million in July from 5.51 million in June. July’s sales pace remains 2.1% higher than a year ago, but is the lowest this year.


Existing Home Sales By Region

NAR's chief economist, Lawrence Yun, said the latter half of the year started off on a bit of a sour note as July's existing sales inched backward. “Buyer interest in most of the country has held up strongly this summer and homes are selling fast, but the negative effect of not enough inventory to choose from and its pressure on overall affordability put the brakes on what should’ve been a higher sales pace,” Yun said, adding that “Contract activity has mostly trended downward since February and ultimately put a large dent on closings last month.”

 

Housing Data Takeaways

  • Nationally, July's median existing-home price for all housing types was $258,300, up 6.2% from July 2016 ($243,200). This represents the 65th consecutive month of year-over-year gains.

  • Total housing inventory by the end of July fell 1.0% to 1.92 million existing homes available for sale, is now 9.0% lower than a year ago (2.11 million) and has fallen year-over-year for 26 straight months. Nationally, unsold inventory offers a 4.2-month supply at the current sales pace, down from 4.8 months one year ago.

  • First-time buyers nationally drove 33% of sales in July, up from 32% both in June and a year ago. The share of first-time buyers for all of 2016 was 35%.

  • Freddie Mac data shows the average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 3.97 percent in July, up from 3.90 percent in June. The average rate for all of 2016 was 3.65%.

Venice Housing Market Statistics

Median Home Price: $349,900

3 Bedrooms/2 Bathrooms

Average Square Footage: 1,945

Price per Square Foot:  $174

Number of Homes on the Market: 410

What's Your Credit Score?

Credit Score image from Credit.comYour credit score is a composite snapshot of your credit history. A high credit score takes time to cultivate, and is not likely to raise much in a short period of time. Generally speaking, you want to make sure you pay your bills on time, keep outstanding debt levels to a reasonable amount for each account, and avoid closing accounts you've successfully paid-off and managed. Don't lose hope if you have less than perfect credit, there are still good loan programs out there for responsible borrowers.


 

We have a list of preferred local lenders who can help you find the best financing programs for your specific needs. Contact us and take advantage of today's low interest rates!


 

Here are some great resources to learn more about credit scores, and to get a free credit score and report:

 

 

Celebrate Venice's 90th Birthday at the Venice Beach Party!

Celebrate Venice’s 90th birthday at the Venice Beach Party: Music & Beer Festival!! On Saturday, September 23rd, head to Venice Public Beach (101 The Esplanade South) for the ultimate community celebration! From 3:00 pm to 8:00 pm, wish Venice a very Happy Birthday on the beautiful beach!

 


This FREE event features delicious food and beverages from your favorite local spots and fantastic music by the best regional bands! Kick of your sandals and party the evening away at this “Lovin’ Our Locals” event!

 


Live Music

The Sarasota Steel Pan Band

Kettle of Fish

Tropical Ave

 

 

For 90 years, Venice has been an amazing place to call home! The Flerlage Real Estate Group wishes Venice a very Happy Birthday! We hope everyone has a great time at the Venice Beach Party!  

Contact Information

Flerlage Real Estate Group
RE/MAX Alliance Group
1314 B East Venice Ave
Venice FL 34285
941-882-2229
Fax: 941-244-5354