WHAT'S IN STORE FOR 2024?
HOUSING MARKET UPDATE

2020 through 2022 saw prices increase by up to 50%, inventory down to 7 days, and multiple offer situations on every home that hit the market. Over the course of 2023, we steadily returned to what most would consider a normal real estate market as the cost of living and climbing interest rates began to adversely affect affordability for buyers and prompt sellers to hold off on listing their homes. So what can we expect from 2024?

It looks as if 2024 will be the official tipping point for the transition from a seller's market to a buyer’s market, but don’t expect a full pendulum swing. This will effectively provide us with a nicely balanced ratio between listings and buyers. This, coupled with the anticipation of slightly more favorable interest rates, should energize the market and create a steady flow of transactions throughout the year.

RASM MARKET STATISTICSANNUAL - 2023

If you are planning to sell, two factors affecting the local market need to be taken into consideration. The first is that mortgage rates are significantly higher than they were 18 months ago, and this, coupled with a steady increase in property prices since the pandemic, has adversely affected buying power for many purchasers. The second is the disruption in the property insurance market. Without exception, property owners across the state of Florida are paying higher insurance premiums. Underwriters are penalizing homes with old roofs, windows that are not up to current code, homes situated in a flood zone, etc.

Despite these disruptors, the real estate market remains buoyant and reasonably priced homes in all price brackets are selling within the first 60-90 days.

The key to success is to use the services of a knowledgeable, trusted real estate professional who can help you accurately assess the value of your home, and price and market it accordingly... and that is where I come in!

FOR SALE - BRADENTON BOWLEES CREEK WATERFRONT
$725,000 I MLS #A4593243

Great opportunity to own a home on excellent boating water on Bowlees Creek. In need of cosmetic renovations, this 3 bedroom, 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, 30 foot pool, and covered boat dock. Great price! Contact Bev Murray today! MORE DETAILS HERE

FOR SALE - SPECTACULAR 30 - ACRE MANATEE RIVER ESTATE
$10,000,000 | MLS #A4576454

This stunning Mill Creek Estate is a spectacular 30-acre Manatee riverfront compound offering seclusion and privacy. The elegant 4,489 sq ft Cape Dutch inspired home boasts expansive water views and abundant features include a beautiful guest house, large multi-purpose barn, 2,000 feet of river frontage, boat dock, "Fish Shack", plant nursery, lagoon, trails and endless idyllic spo ts to relax and soak up nature.MORE DETAILS HERE

NEW PRICE - PHILLIPPI CREEK LAND
$725,000 I MLS #A4593243

Stunning 0.4 acres of secluded prime "Old Florida" land 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

JUST SOLD - HARBOUR ISLE $1,600,000 276 ST. LUCIA DRIVE #202 I MLS#A4585723

JUST SOLD - INDIAN BEA CH $375,000 615 BELLORA WAY I DEVELOPMENT LOT

UNDER CONTRACT - THE OAKS $1,300,000 600 EAGLE WATCH LANE | MLS #A4564779

FEATURED NEW DEVELOPMENT - THE GALLERY SARASOTA
MODERN ELEGANCE. ELEVATED PRIVATE RETREATS

Welcome to The Gallery Sarasota, a beacon of modern elegance and an elevated private retreat set in the vibrant heart of downtown Sarasota. Offering 60 exclusive residences that promise an unparalleled experience, this magnificent development redefines luxury living. The Gallery Sarasota is not just a residence; it's a lifestyle statement. Each of the one, two, and three-bedroom residences, including the remarkable two-story live-work spaces, is a masterpiece of design, merging elegance with comfort. Now selling... MORE DETAILS HERE

EXPERT INSURANCE ADVICE
NEIGHBORHOOD EVENT

Many thanks to Jeff Hamer, owner of Blue Marlin Insurance, for joining our Indian Beach Sapphire Shores neighbors to share insights on the new flood maps and how to mitigate the spiraling costs of homeowners insurance. It was a great opportunity to gather together and I was surprised at just how many questions and concerns we covered!

MURRAYS IN COLORADO
HITTING THE SLOPES!

My husband Steve and our 3 sons, Will, Jack and Oli, love swapping sun and sand for snow and slopes. We had a fun few days in Breckenridge to ring in the New Year!

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