As we head into our winter season, the big question I’m being asked is what type of real estate market can we expect.
In the coming months, national economic pressures will most likely play a part in real estate activity. But, while we are no longer in the frenzied boom market of 2021 and the beginning of 2022, demand still exists. Sarasota and her islands hold a unique allure to Buyers searching for the perfect place to call home.
Our luxury market has been outperforming comparable markets. Our inventory is still low. (see inventory charts below) And the rise in interest rates so far has not affected our sales. For those Sellers wishing to sell and stay in the Sarasota area, the challenge is finding a place to move to. So those potential listings are in a holding pattern. And as I’ve said before, Buyers gravitate to residences that have been updated or priced with updating costs considered.