SARASOTA CONTINUES TO BUCK NATIONAL REAL ESTATE TRENDS Shifting To A Buyers Market

As we approach the spring season, the real estate market in Sarasota appears to be bucking national trends. During my monthly Zoom meeting with agents from the Berkshire Hathaway HomeServices network nationwide, my colleagues shared that despite interest rates hovering around 7%, there's a considerable surplus of buyers compared to available homes. This means sellers still hold significant leverage in the market.

Locally, however, we're observing a distinct change in dynamics. We're transitioning from a seller's market to a buyer's market, which typically prompts a slowdown in activity as the market adjusts. A significant segment of our buyer population - the vacation home buyer - is not compelled to buy if market conditions do not support their interests, so shifts in the market lead to more noticeable fluctuations in both demand and supply. Most people will be surprised to learn that, despite the rash of price reductions and increased supply of homes for sale, the median price for Sarasota County homes is still 16 percent higher than this time last year.

Looking for a expert realtor and negotiator to help you navigate market conditions? I am here to help you buy or sell. Call me for a chat today!

SALE PENDING I $4,500,000 NOKOMIS INTRACOASTAL CUSTOM HOME WITH 130 FT OF WATERFRONT

Custom-built, four-bedroom, 4,600 square foot Nokomis home located above the base flood elevation on a wide one-acre parcel, offering privacy, space, and over 130 feet of private water frontage on a wide stretch of the Intracoastal Waterway with stunning views and endless sunsets! MORE DETAILS HERE

BEST PLACES TO LIVE IN THE U.S. IN 2023-2024

Sarasota is coming in at no.5 Best Places To Live in the USA and no.18 for retirement by U.S News & World Report.

BERKSHIRE HATHAWAY HOMESERVICES GLOBAL OPEN HOUSE

Marketing to the world! Our luxury riverfront estate listing at 1245 Mill Creek Rd was featured on season 5 of the Berkshire Hathaway HomeServices ‘Global Open House’ series, which showcases select properties from key markets to over 50,000 agents worldwide. In this episode, CEO Christy Budnick introduced the highlights of this spectacular property and interviewed me about its unique attributes. MORE DETAILS HERE

NEW PRICE - $669,000 BOWLEES CREEK BOATING WATER 3 BEDS I 3 BATHS I 1,722 SQ FT I MLS#A4593243

Great opportunity to own a blank canvas, concrete block property on good boating water at Bowlees Creek. In need of cosmetic renovations, this 3 bed, 3 bath, plus bonus air-conditioned space will check a lot of boxes for someone wanting to enjoy life on the water. Includes terrazzo floors, a 30-foot pool, and a covered boat dock. Great price, contact me today! MORE DETAILS HERE

NEW PRICE - $799,000 BUILD YOUR DREAM HOME ON PHILLIPPI CREEK 0.40 ACRES I 44XX SHADE AVENUE I MLS#A4556619

Stunning 0.4 acre of secluded prime "Old Florida" lot on the coveted west bank of Phillippi Creek, close to town. This 17,400 sq ft parcel, boasts just over 100' of waterfront on a wide section of the waterway. Bring your builder and your dreams, there is plenty of room on this beautiful parcel! MORE DETAILS HERE

HAS HOUSING MARKET INVENTORY IN SOUTHWEST FLORIDA FINALLY TURNED A CORNER?

Throughout much of Florida, including nearby markets such as Tampa and Orlando, standing months of inventory remain comparable to national levels and are moving in tandem. However, in Sarasota and Naples, we are witnessing something far different, which implies we have turned a corner. READ MORE *Source - Budge Huskey - Sarasota Herald Tribune

DISCOVER LUXURIOUS LIVING AT AKOYA RESIDENCES IN DOWNTOWN SARASOTA

AKOYA Residences is a beacon of luxury and sophistication in the heart of Sarasota, Florida. Slated for completion in late 2025, this new preconstruction condominium project is poised to redefine downtown living with its blend of elegance, comfort, and unparalleled convenience. Designed for those who seek the finest in life, AKOYA Residences offers a unique opportunity to own a piece of Sarasota's vibrant landscape, where the tranquility of coastal living meets the dynamism of urban excitement. One- to three-bedrooms from the upper $300,000’s to the $800,000’s. CLICK HERE FOR MORE DETAILS

ABOUT - BEV MURRAY

Looking for a successful, trusted realtor to help you buy or sell a home in Sarasota? Bev Murray has worked in Sarasota real estate since 1999. In 2021, she was ranked in the top ½ of 1 percent of over 50,000 Berkshire Hathaway HomeServices agents nationwide. Fluent in French and Spanish, Bev is a certified real estate negotiation expert (RENE), Certified Luxury Home Marketing Specialist®, and a member of the National Association of Realtors and the Global Business Council. Contact Bev today to assist with your next home sale or purchase. 941 724 4995 or bev@murraygroupusa.com