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        <title>Living in Sarasota, FL - Sarasota Real Estate</title>
        <link>https://www.mattleicht.com/blog/sarasota-real-estate-market-updates/</link>
        <description>Living in Sarasota, FL - Sarasota Real Estate. Learn more about where is Sarasota on a map, Sarasota housing options, and things to do in Sarasota, Florida. </description>
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    <guid>https://www.mattleicht.com/blog/moving-to-sarasota.html</guid>
    <link>https://www.mattleicht.com/blog/moving-to-sarasota.html</link>
        <author>matt@mattleicht.com (Matt Leicht)</author>
        <title>Moving to Sarasota, FL (2025): What You NEED To Know</title>
    <description> <![CDATA[ 
You can spot a Sarasota newcomer a mile away. They’re the ones wide-eyed at Siesta Key’s flour-soft sand, whipping out phones to capture the sunset like they just discovered Instagram. Give them a month, though, and they’ll realize the city’s real stories unfold miles from the postcard shoreline.


The Sarasota of 2025 is a mosaic of beach bums and biotech founders, of jazz devotees and pickleball fanatics, of retirees who traded snow shovels for golf carts and families who swapped cramped condos for backyard lizard hunts.


If you’re considering living in Sarasota, you deserve the unvarnished download. No marketing gloss, no relocation-package fluff, just straight talk about what life here actually feels like.


What Makes Sarasota Different in 2025?


Stand on Main Street at 10 a.m. and you’ll see the old and new colliding in the best possible way.


A pastel art-deco façade shades a craft-coffee lab where a barista pours oat-milk swans, while next door, a century-old diner still flips pancakes the size of steering wheels.


Head thirty minutes east and you’ll swear you’re in a different county: brand-new lanes stretch past construction cranes, schools spring up before the asphalt cools, and lakeside villages advertise neighborhood food-truck nights before the first roof is tiled.


Sarasota’s reinvention isn’t limited to geography. The cultural calendar has exploded, with everything from avant-garde film festivals to high-gloss seafood fêtes on the marina. It’s as if the city decided to sprint while most beach towns were still stretching. 


That momentum blurs the line between tourist hotspot and year-round powerhouse, making Sarasota feel less like a retirement haven and more like a small Pacific-Coast tech city that somehow woke up on the Gulf.


What’s the Real Vibe of Sarasota?


Picture a random Tuesday near Southside Village. There’s a queue outside the indie espresso bar, golden retrievers napping under tables, retirees rolling in on souped-up golf carts, and a matte-black Tesla squeezed between a beach Jeep and a vintage Bronco.


A trio drags bongos under a palm canopy, prepping for an impromptu set that will morph a quiet corner into a mini music fest by twilight. Nobody checks labels on flip-flops. Nobody cares that the guy in board shorts is a cardiologist or that the woman in yoga pants flips vacation rentals for a living.


Sarasota is polished, but the shine never turns into snobbery. That balance shows up in the sheer range of things to do in Sarasota, from casual drum circles on Siesta Beach to formal evenings at the opera house.


The magic lies in that collision: fine art coexists with drum circles, opera patrons rub shoulders with salt-sprayed kite-boarders, and somehow it never feels forced.


Why Are People Flocking to Sarasota Now?


In a single coffee-shop line, you might meet a Chicago tech couple escaping Midwestern grey, a film editor from L.A. tired of wildfire seasons, and a Jersey family hunting sunshine that doesn’t melt the wallet. The draws stack up quickly.


Florida’s no state income tax is the headline, but the footnotes matter just as much.


Price-per-square-foot still undercuts coastal peers, so a Queens walk-up morphs into a three-bedroom pool home without mortgaging the future.


Quality of life sweeteners seal the deal: A-rated public schools that actually thrive, a medical corridor that punches above its population weight, and an art scene sneaky-strong enough to make Miami glance north occasionally.


Then there’s the lifestyle smorgasbord. Downtown for skyline brunches, master-planned communities for trail runs and block parties, and barrier islands for anyone who’d rather count dolphins than cars.


People aren’t just relocating for better weather; they’re upgrading bandwidth: more space, more options, fewer compromises.


What Does Life in Sarasota Actually Feel Like?


Downtown hums like a boutique city. You can walk out of a loft, grab an artisan cold brew, wander through a contemporary gallery, then stroll to the bayfront for sunset jazz—all before your smartwatch hits 10,000 steps.


The street pulse stays steady but never tips into manic; it’s urban living with the edges sanded smooth. Swing east to Palmer Ranch or Lakewood Ranch and the cadence shifts. Planned trails thread past playgrounds, HOA newsletters tout movie nights on the green, and the Facebook mom group knows every lost golden doodle within five minutes.


Beach life, of course, speaks its own dialect. On Siesta Key, closed-toe shoes feel like a dare, parking spots during season are prized like Super Bowl tickets, and the smell of sunscreen is basically civic perfume. The common denominator is pace.


Sarasota runs on “choose your own speed.” Morning surf or farmers-market stroll, midday Zoom from a lanai, sunset wine on the sand. Pick your sequence and the city obliges, so long as you remember that winter traffic and summer humidity are the cover charges everyone pays.


Which Sarasota Areas Are Growing the Fastest?


Look east of I-75 for the city’s crystal ball.


Where scrub pines once stood quietly, Lakewood Ranch’s Waterside district now hosts weekend night markets and pontoon shuttles. 


A few miles south, Wellen Park erected a minor-league ballpark before its first grocery store broke ground, betting that rooftops would chase entertainment. 


Further up, 3H Ranch prepares to debut miles of boardwalk and a freshwater lagoon, proof that man-made amenities can vibe with natural Florida once somebody writes the checks.


Infrastructure follows suit. Lorraine Road widens in stages, Fruitville gains roundabouts like freckles, and new bypasses rewrite Google Maps time estimates monthly. Where “too far” used to mean thirty rural minutes, it now means fifteen suburban minutes with a Starbucks drive-thru en route. Commercial zones are sprinting to keep up, so medical campuses, craft breweries, and co-working lofts pop up before streetlights flick on.


How Do You Choose the Right Sarasota Neighborhood?


Forget granite countertops for a second. Start with your daily rhythm. If morning spin classes and walk-to-brunch Saturdays fuel you, downtown or Southside Village will feel like a playground.


If an HOA-run pickleball ladder and stroller-friendly sidewalks sound dreamy, master-planned east delivers.


Nightlife junkies might wilt in a gated golf enclave, just as beach purists go stir-crazy when the sand is a half-hour away. Commuting adds nuance. I’ve seen Nokomis buyers fall for a cottage but later discover the school run hijacks forty-five minutes each way.


I’ve watched Lakewood Ranch newcomers realize their job in downtown Bradenton turns every bridge into a daily bottleneck. Feet-on-the-ground intel matters. Drive a prospective street at dawn and again after dinner. Notice porch lights, dog walkers, garage-band noise, the subtle clues of a neighborhood’s soul.


Sarasota refuses one-size-fits-all labels; the win lies in matching your heartbeat to the block’s.


What Is the Real Cost of Living in Sarasota?


Sunshine is free; the rest will chew on your checking account if you’re unprepared.


Sarasota home prices stabilized in 2025, but beach-adjacent or new-construction digs still flirt with seven figures.


Property taxes sit comfortably compared with northern metros, yet CDD fees in master-planned havens and robust HOA dues stack monthly obligations higher than Zillow’s payment estimator suggests.


Insurance is the silent budget bully. Post-storm recalculations spiked wind and flood premiums, and anything west of the interstate pays extra for that Gulf breeze.


Add pest control to outsmart palmetto bugs, pool service to keep algae from throwing champagne-colored parties, and a summer air-conditioning bill that might rival a winter heating bill up north.


None of these costs are deal-breakers, but ignoring them turns dream pools into money pits. The antidote is brutal clarity before the offer, not crocodile tears after the closing.


What Quirks and Charms Make Sarasota Unique?


Summer arrives like a steamy bear hug, afternoon downpours stage daily flash-mob performances, and love bugs celebrate two weddings a year on your windshield. Yet quirks morph into lore once you see the offsetting magic.


Jazz concerts under banyans at Selby Gardens feel lifted from some Hemingway fever dream. Mangrove tunnels glow on full-moon kayak nights, convincing skeptics that bioluminescence is real. Drum circles on Siesta Key skip the tourist-trap vibe and serve communal therapy at sundown.


One night you’ll applaud a chamber-orchestra overture downtown; the next, you’ll toast craft pilsners in a repurposed warehouse while food-truck smoke mingles with sea air.


Sarasota never settles for one note. It plays the whole chord.


How Can You Move to Sarasota With Confidence?


In a market where builder incentives swing weekly and certain pocket neighborhoods trade hands before photos hit MLS, going solo is like snorkeling without a mask. Local boots-on-the-ground agents spend weekdays touring spec homes, sniffing out CDD increases before they publish, and texting clients videos of sunset views that make FaceTime offers feel sane. 


Whether you’re six weeks out or six months away, clarity beats guesswork. Outline lifestyle priorities, set an honest budget that includes hidden fees, and tap pros who know which streets deliver the vibe you’re chasing.


Sarasota rewards the prepared. It turns daydreamers into locals who can’t imagine winter without dolphins in the intracoastal and coffee on a lanai.


When the puzzle pieces align, neighborhood, budget, lifestyle, the city doesn’t just welcome you; it keeps you.


 






 ]]> </description>
    <pubDate>Wed, 10 Sep 2025 04:15:00 -0400</pubDate>
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    <guid>https://www.mattleicht.com/blog/my-bold-sarasota-real-estate-market-forecast-trends-prices-and-predictions.html</guid>
    <link>https://www.mattleicht.com/blog/my-bold-sarasota-real-estate-market-forecast-trends-prices-and-predictions.html</link>
        <author>matt@mattleicht.com (Matt Leicht)</author>
        <title>My Bold Sarasota Real Estate Market Forecast: Trends, Prices, and Predictions</title>
    <description> <![CDATA[ 
My Bold Sarasota Real Estate Market Forecast


Overview


The Florida housing market is currently facing a unique set of challenges and opportunities. With interest rates, upcoming elections, inventory fluctuations, and price adjustments playing crucial roles, it’s important to understand what these factors mean for the Sarasota real estate market. As a top-producing realtor in the Sarasota area, I aim to provide you with a bold and honest forecast for what lies ahead. In this post, I’ll break down current market trends, pricing strategies, and offer predictions for the coming months.







Sarasota Real Estate Market Overview


Understanding the current Sarasota housing market requires a deep dive into transaction volumes and how they are shaping market dynamics. Over the past few months, there has been a noticeable decline in closed sales within Sarasota County, and inventory levels have seen a significant rise. These trends suggest that the market is entering a phase of adjustment, which could influence buying and selling strategies in the near future.


Declining Closed Sales in Sarasota County





Sarasota County has experienced a marked decrease in closed sales over the recent months. Specifically, closed sales for April, May, and June have dropped by 6 compared to the same period last year, by 15 from 2022, and by a staggering 34 from 2021. It's important to note that 2021 was an exceptionally booming year for real estate in Florida, largely due to pandemic-induced demand. As the market normalizes, these declines are not entirely unexpected but do warrant careful consideration for future strategies.


Rising Inventory Levels





In tandem with declining sales, inventory levels have surged. The number of active listings in the Sarasota area is up by 66 compared to last year, with approximately 4,200 properties currently on the market. This increase brings inventory levels back to pre-pandemic numbers, indicating a shift toward a more balanced market. For buyers, this could mean more options and potentially more leverage in negotiations. For sellers, it’s a signal to adjust expectations and consider competitive pricing to attract offers.


Pricing Trends in Sarasota





Pricing trends provide a clear picture of the Sarasota real estate market’s current status and its future direction. As of now, the median price for single-family homes in Sarasota stands at $581,000. This reflects a 1 increase from the previous year, a 4 rise from 2022, and a significant 31 increase from 2021. These figures suggest that while price growth has slowed, it has not reversed, pointing to a stabilization in the market.


Single-Family Homes vs. Condos


The pricing trends for single-family homes and condos in Sarasota exhibit some differences. While single-family homes have seen a modest price increase, condos may experience more variability depending on location and amenities. This stabilization in prices, especially for single-family homes, indicates a shift from the rapid appreciation seen in previous years. Buyers can expect more realistic pricing moving forward, which aligns more closely with inflation and market fundamentals.


New Construction Trends and Builder Incentives





New construction is another significant factor impacting the Sarasota real estate market. Builders are currently facing increased inventory and lower transaction volumes, prompting them to offer a variety of incentives to attract buyers. These incentives can range from financial perks to added amenities, providing potential homeowners with additional value in today’s market.


The Role of Incentives in the Market


In response to slower sales, builders in Sarasota are offering numerous incentives to stimulate buyer interest. Examples include substantial contributions towards design centers, free pools, and closing cost assistance. These incentives are crucial for builders to remain competitive in a market with rising inventory and fewer transactions. For buyers, this represents an excellent opportunity to take advantage of added benefits while purchasing a new home.


Factors Influencing the Sarasota Real Estate Market in the Next 90 Days


Several key factors are expected to influence the Sarasota real estate market in the coming months. These include recent changes in real estate regulations and the upcoming elections, both of which could significantly impact buyer behavior and market conditions.


National Association of Realtors Lawsuit





A significant recent development is the National Association of Realtors (NAR) lawsuit and its impact on buyers in Florida. As of August 6, new rules require buyers to have a signed buyer broker agreement before viewing properties in Florida. This change could lead to some confusion and hesitation among buyers, particularly those unfamiliar with the new requirements. For both buyers and sellers, it’s important to work with knowledgeable realtors who can navigate these changes effectively.


The Impact of the Upcoming Elections


Another major factor likely to affect the Sarasota real estate market is the upcoming elections. Historically, election years tend to create uncertainty, causing potential buyers to delay major decisions such as purchasing property. With the combination of election-related hesitancy and the new NAR rules, the market could experience a temporary slowdown until these factors are resolved.


Predictions for the Sarasota Real Estate Market


Looking ahead, the Sarasota real estate market is expected to undergo several changes over the next few months. Based on current trends, here are some predictions for what we might see in the fourth quarter of this year and the first quarter of the next.


Long-Term Market Stability and Growth


Despite the current market fluctuations, Sarasota remains a highly desirable location for many. With over 30 miles of beautiful beaches, a vibrant arts scene, and numerous recreational opportunities, the demand for Sarasota real estate is likely to persist. As more inventory becomes available, properties may stay on the market longer, prompting sellers to adjust prices to remain competitive. However, this increased supply could also stabilize market prices, creating a more balanced environment for both buyers and sellers.


Conclusion


The Sarasota real estate market is currently navigating a period of adjustment, characterized by declining sales, rising inventory, and new regulatory changes. While these factors present challenges, they also offer opportunities for savvy buyers and sellers to capitalize on the evolving market conditions. Whether you’re looking to buy or sell in Sarasota, staying informed and working with experienced real estate professionals is key to making the best decisions in this dynamic market.


Don't navigate the new construction market alone – my team is here to guide you through the process, from understanding builder incentives and pricing trends to protecting your interests with legal expertise. Contact us today to schedule a consultation and download my comprehensive comparison of Sarasota's top new construction communities


If you have more questions or if you're already looking for a house, my team and I would love to jump on a call with you and help you every step of the way. Make sure you reach out to me at:


Email - info@mattleicht.comCell - 941.256.3321


You can also subscribe to my YouTube channel for updates on lifestyle, real estate, and so much more in Sarasota, Florida.



Frequently Asked Questions (FAQs)


1. What are the current trends in the Sarasota real estate market?


The Sarasota real estate market is currently experiencing declining sales, rising inventory, and stabilizing prices. These trends suggest a shift towards a more balanced market, providing opportunities for both buyers and sellers.


2. How are rising interest rates affecting home prices in Sarasota?


Rising interest rates have contributed to a decrease in transaction volumes and a stabilization of home prices. As rates continue to fluctuate, they will likely play a significant role in shaping future market dynamics.


3. What incentives are builders offering for new construction in Sarasota?


Builders in Sarasota are offering various incentives to attract buyers, including contributions towards design centers, free pools, and closing cost assistance. These incentives can provide significant added value for homebuyers.


4. How will the upcoming election impact the Sarasota housing market?


The upcoming election is likely to introduce uncertainty into the market, potentially causing buyers to delay major decisions. Historically, election years tend to see a slowdown in real estate activity until political outcomes are more certain.


5. What should buyers and sellers expect in the Sarasota real estate market in the coming months?


Buyers and sellers can expect a more balanced market with increased inventory and stable prices. For buyers, this means more options and potential negotiation power. For sellers, it’s important to price competitively and consider market conditions carefully.
 ]]> </description>
    <pubDate>Thu, 29 Aug 2024 15:19:00 -0400</pubDate>
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    <guid>https://www.mattleicht.com/blog/sarasota-real-estate-in-2024-q1-market-update-and-forecast.html</guid>
    <link>https://www.mattleicht.com/blog/sarasota-real-estate-in-2024-q1-market-update-and-forecast.html</link>
        <author>matt@mattleicht.com (Matt Leicht)</author>
        <title>Sarasota Real Estate in 2024: Q1 Market Update and Forecast</title>
    <description> <![CDATA[ 
Sarasota Real Estate in 2024: Q1 Market Update and Forecast


As a top realtor team in Sarasota, we're bringing you the inside scoop on how the real estate market performed in the first quarter of 2024 and what to expect for the remainder of the year. Whether you're a local homeowner or looking to relocate to our fantastic coastal community, this comprehensive market report is a must-read.







Sarasota County Overall Market Trends





Across Sarasota County (excluding Northport and Englewood), closed sales saw a 4 decrease year-over-year, while pricing increased by 2. Specifically for single-family homes, the median price is now $571,000, reflecting a 4 rise.


However, digging deeper into quarterly data from the past year reveals pricing has remained relatively steady, fluctuating only slightly each quarter between $549,000 and $574,000.


Hot Markets: Islands/Keys and Luxury Properties





One area defying expectations is the islands and keys market, where beachfront condo sales spiked 94 compared to last year. Single-family home transactions increased 18, with the median price jumping 30 to a staggering $2.6 million.


The luxury real estate sector (properties $2 million+) is the current star performer. I'll explain the driving forces behind this later, but the numbers speak volumes - condo prices on the islands/keys now sit at $917,000 after rising each quarter.


Popular Sarasota Neighborhoods





In Palmer Ranch, home sales dipped 32 year-over-year, yet pricing skyrocketed 27 to a $754,000 median for single-family residences and $383,000 for condos.


Lakewood Ranch saw a 12 sales decline but a 12 pricing increase. The current median is $670,000 for single-family and $429,000 for condos, though new construction data can skew Lakewood Ranch numbers.


What This Means for Buyers and Sellers


While I've crunched the data for you, deciding your optimal move truly depends on your specific goals and situation. The luxury market ($2M+) is white-hot thanks to buyers with substantial net worth who aren't deterred by potential dips.


Homes between $500K-$1M face more pricing sensitivity, as this may represent a buyer's sole property holding.


I'm seeing two types of properties sell rapidly: new construction between $500K-$600K, and luxury homes from $2M-$6M in the new WildBlue community in Lakewood Ranch.


However, overpriced listings are stagnating as inventory rises. My team can guide you on proper pricing to attract buyers or negotiate on your behalf.


 


Don't forget to download our free, detailed Sarasota Market Report for a hyper-local pricing analysis of the specific area you're watching. We're here to ensure you make a well-informed, confident decision



If you’re moving to Sarasota, Florida, and are looking for a house reach out to me at:


Email - info@mattleicht.comCel - 941.256.3321


And if you’re new to the area and curious about what it has to offer, check out this post about Waterside, Lakewood Ranch, and subscribe on YouTube for more updates and all about life in Sarasota, Florida.
 ]]> </description>
    <pubDate>Sun, 14 Apr 2024 19:18:00 -0400</pubDate>
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    <guid>https://www.mattleicht.com/blog/navigating-the-sarasota-housing-market-a-2023-recap-and-2024-predictions.html</guid>
    <link>https://www.mattleicht.com/blog/navigating-the-sarasota-housing-market-a-2023-recap-and-2024-predictions.html</link>
        <author>matt@mattleicht.com (Matt Leicht)</author>
        <title>Navigating the Sarasota Housing Market: A 2023 Recap and 2024 Predictions</title>
    <description> <![CDATA[ 
Navigating the Sarasota Housing Market: A 2023 Recap and 2024 Predictions


As 2023 came to an end, the Sarasota housing market presented a mix of surprises, trends, and predictions for the future. Despite a tumultuous start, the year ended on an unexpected note, leaving many to wonder what 2024 holds for real estate in Sarasota, Florida.


Here's a comprehensive look at the year in review and what to anticipate in the coming months.







2023 Market Overview





The journey through 2023 was nothing short of a rollercoaster for the housing market. Initially, the market experienced a modest 5 increase through the first three quarters. However, the final stretch saw an impressive surge, closing the year with an overall 12 increase in prices. This uptick brought the median price for a single-family home in Sarasota County to $572,000, marking a 4 rise from the previous year. Condos, on the other hand, saw a staggering 32 increase, reaching a median price of $500,000.


The Luxury Market's Strength





A deeper dive into the market reveals a pronounced strength in Sarasota's luxury sector. High-end areas such as the islands, keys, west of the trail, and downtown Sarasota witnessed significant appreciation. Notably, single-family homes in these locales enjoyed a 27 to 76 price jump, with median prices reaching up to $2.7 million. This growth contrasts sharply with more modest increases in other areas, highlighting the luxury market's resilience and appeal.


Inventory Concerns and Market Balance





One alarming trend, however, is the 43 increase in inventory. While this indicates a shift towards a more balanced market, it also raises concerns about future price stability and market dynamics. With inventory levels climbing, understanding the factors driving these changes becomes crucial for both buyers and sellers.


Predictions for 2024: Election Year Uncertainty





Looking ahead to 2024, the housing market's trajectory is less clear. As an election year, 2024 introduces a layer of uncertainty that could influence buyer behavior and market trends. Factors such as inflation, interest rates, and political outcomes will play pivotal roles in shaping the market. The potential manipulation of interest rates to sway voters could lead to a temporary boost in housing prices, yet this might be a double-edged sword, potentially precipitating a recession if not managed carefully.


The Inflation and Interest Rate Conundrum





Inflation and rising interest rates have been central themes affecting the economy and, by extension, the housing market. The delicate balance between controlling inflation through higher interest rates and stimulating economic growth poses challenges for policymakers and impacts real estate values. As we navigate these uncertain waters, the decisions made in the run-up to the election could have lasting effects on the housing market.


A Call to Action for Potential Buyers





For those considering entering the Sarasota real estate market, the current environment presents both opportunities and risks. Investing in real estate remains a solid hedge against inflation, offering tangible assets in a time of economic flux. However, timing and local market knowledge are key. Prospective buyers should stay informed and seek expert guidance to make the most of the opportunities ahead.


Conclusion


As 2024 heats up, the Sarasota housing market stands at a crossroads. With the luxury sector showing robust growth and inventory levels rising, the market's future direction will depend on a complex interplay of economic, political, and local factors. Whether you're a buyer, seller, or simply keeping an eye on the market, staying informed and agile will be crucial in the coming year.


For those ready to take the plunge or seeking more insight into Sarasota's real estate landscape, don't hesitate to reach out for professional advice. The right opportunity might just be around the corner, and with careful planning and expert guidance, you can navigate the uncertainties of 2024 with confidence.



If you want more information about the neighborhoods and the different areas in Sarasota, make sure to download my Sarasota Relocation Guide by clicking here, or reach out to me if you’re looking for a house and need some help


Email - info@mattleicht.comCel - 941.256.3321


If you’re new to the area and curious about what it has to offer, check out this post about the best time to buy a house in Sarasota, and subscribe on YouTube for more updates and all about life in Sarasota, Florida.

 ]]> </description>
    <pubDate>Sun, 28 Jan 2024 12:49:00 -0500</pubDate>
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    <guid>https://www.mattleicht.com/blog/sarasota-real-estate-market-update-is-it-the-best-time-to-buy.html</guid>
    <link>https://www.mattleicht.com/blog/sarasota-real-estate-market-update-is-it-the-best-time-to-buy.html</link>
        <author>matt@mattleicht.com (Matt Leicht)</author>
        <title>Sarasota Real Estate Market Update 2023: Is It The Worst Or Best Time To Buy?</title>
    <description> <![CDATA[ 
If you've been keeping an eye on the real estate market lately, you've likely been bombarded with mixed messages. &quot;Now is the worst time to buy,&quot; some say, pointing to the dismal market conditions. Others argue the opposite, urging you to &quot;buy now before interest rates soar even higher&quot;







A glance at the housing section's front page in FORTUNE magazine shows just how polarized these opinions are. On one side, we have the CEO of Fannie Mae painting a grim picture of the current market. On the other, industry expert Barbra Corcoran advocates that it's an opportune time to make a purchase.


This dichotomy became even more personal to me earlier this week during a chat with an acquaintance. &quot;Matt, have you heard the rumors?&quot; they asked. &quot;The word on the street is that we're on the brink of another surge in home prices.&quot; It seems everyone has a different read on the situation. Let's dive deeper and examine what's really happening in the real estate market.






My name is Matt Leicht and I’m a realtor here in Sarasota. Every quarter I put a video out like the one above breaking down our real estate numbers and trying to interpret them to teach you what is really going on.


This is not what you hear on Fox News or CNN. This is what is truly happening here in Sarasota from my experiences and the experiences of other experts in our local market.  


Let's jump straight into it. As for the realtor who told me we are going to see a huge price jump…. I have no clue what he was referring to. So I honestly didn’t say anything back.


I mean interest rates are going up, inventory is going up…. Those alone are not signs that would show significant price jumps. 


So which is it then? Which one of these things is true? Stick around and let’s break it down 


Numbers for Q3 of 2023


But first, let me show you the numbers for quarter 3 of this year.


The median price for a single-family home in Sarasota now is at $572K, while the price for a condo is $392K. To make it a correlation with prices from last year, the increase was only 4, while the increase in 2022 was 18.





To understand why the market declined like that, we need to look at the full story, look at the areas and see if they have new constructions or not, see what’s happening around these areas, etc.


Lakewood Ranch vs Palmer Ranch


When we pick these two popular areas in Sarasota, one with a lot of new construction, while the other has very few new homes; to compare and understand, we realize that the market at the moment is totally unpredictable and unstable.


For example, in Lakewood Ranch, the price of a single-family house year-to-year has gone down 2. But if we look at it further, we realize that these numbers are actually about the previous 6 quarters leading up to today.





Looking at the prices for Q2 of 2022, we had $739K, which went down 10 in Q3 of 2022 due the Hurricane Ian and continued until Q1 of 2023. But when we arrived at Q2 of this year, the increase went up 7 and since then it continued to increase, even though not as much as expected, but either way, a roller coaster going up.


As for single-family prices in Palmer Ranch, prices went up 2, but let me show you the last 6 quarters to see what’s actually happening.





In Q2 of 2022, the prices were $699K and we can see how they dropped 7 in Q3 and Q4, also because of the hurricane, but at the beginning of the year, we saw an increase of 18, with prices going up to $717K and the market getting fire. It didn’t maintain though, because in Q2 of 2023, the drop-off was around 6, and right now prices are sitting at $666K.


Again, another roller coaster, but with this decrease in the last 2 quarters.


What does that mean?


We can’t just look at what the news has been saying. We need to look at the whole story and compare today’s moments with the rest of the year because the market is really facing an unpredictable time.


Buyers are more cautious with rising interest rates, and they’re looking to find a property that they think shows the value for the price. I truly believe that this is one of the reasons we still have thousands of buyers out there, even though they’re not as desperate as they were a few years ago.


But if you’re a seller, my advice is: get out of your head that your house is going to sell in a weekend with multiple offers over the asking price. We’re living in a moment where it takes around 2-3 months to actually sell a house, and you need to put yourself in a better position than the competition to be inside of that average.


The marketing is constantly changing each and every quarter, so if you want to keep up with the changes in Sarasota, you can download for free the complete summary. It covers all the areas and is super easy to look at the one you’re interested in and see what’s happening in the market.


And if you’re thinking about relocating to the area or you want to sell your current home, my team and I would love to be your real estate agency of choice. All you need to do is reach out to me at


Email - info@mattleicht.comCell - 941.256.3321


If you want to know more or are curious about what’s coming next in Sarasota, FL, then make sure to subscribe on YouTube to get the new videos with updates, more about marketing prices, and everything about living here.


If you’re a buyer, I recommend you to be patient right now and continue to work on your credit score, continue to keep your current income, or find ways to increase it, just make this search as light as possible. And of course, continue to monitor the market.






















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 ]]> </description>
    <pubDate>Tue, 31 Oct 2023 19:29:00 -0400</pubDate>
</item>
<item>
    <guid>https://www.mattleicht.com/blog/2023-q2-sarasota-real-estate-market-update-unveiling-surprising-trends-for-homebuyers.html</guid>
    <link>https://www.mattleicht.com/blog/2023-q2-sarasota-real-estate-market-update-unveiling-surprising-trends-for-homebuyers.html</link>
        <author>matt@mattleicht.com (Matt Leicht)</author>
        <title>2023 Q2 Sarasota Real Estate Market Update: Unveiling Surprising Trends for Homebuyers</title>
    <description> <![CDATA[ 

Welcome to the 2023 Market Update for Sarasota real estate market Today, we'll dive into the latest numbers and trends shaping the housing landscape in this vibrant Florida region. From closed sales and inventory fluctuations to surprising price developments, we'll unpack the intriguing dynamics that make Sarasota a unique and compelling market. Whether you're a northerner, westerner, Floridian, or someone considering a move to this beautiful area, our in-depth analysis will provide valuable insights into the present-day market conditions. So, let's explore the exciting world of Sarasota's real estate.







Understanding Sarasota's Unique Divisions





Sarasota is a captivating blend of diverse neighborhoods with unique charm and influence on Sarasota’s real estate market. To make it easier for you to access comprehensive data, we've carefully identified and organized these regions into the following areas:


Sarasota County as a Whole


First things first, let's look at Sarasota County as a whole. The numbers might surprise you. Compared to last year, closed sales have dropped by 10, yet inventory surged by 85, and prices rose by 1.86 yearly. The surprising price increase amidst reduced sales and higher inventory might puzzle many. However, the answer lies in Sarasota's enduring appeal, attracting steady demand from buyers seeking its unique lifestyle, cultural amenities, and excellent schools. These factors and diverse neighborhoods contribute to the market's resilience. Sarasota remains an attractive destination, defying conventional market trends and promising a promising future for homeowners and investors alike. Let's explore the specifics and uncover the magic of Sarasota's real estate.


Uncovering Trends in Popular Areas


Islands and Keys: Where Paradise Awaits


If you dream of living in a beach paradise, this is where you should be. Moving on to the famous islands and keys, including Siesta Key, Longboat Key, Lido Key, Bird Key, Casey Key, and Saint Armand's Key, we observe a 10 decline in closed sales. However, the inventory has risen by 50, and pricing has seen a marginal increase of 0.17. So, if you're looking for a piece of paradise, keep an eye on these statistics. The median time to contract in this area is a comfortable 37 days, with single-family homes averaging around $2,033,000 and condos around $881,000.


The islands and Keys have always been highly sought-after due to their proximity to stunning beaches, luxurious amenities, and an upscale lifestyle. Despite a slight drop in sales, the appeal of these areas remains strong, as evident from the steady increase in inventory and the modest price growth. The islands and keys are prime contenders for buyers seeking exclusive waterfront properties and luxurious estates.


West of the Trail: A Unique Haven


Next, we have the charming region west of Tamiami Trail, stretching south of downtown Sarasota down to Osprey. While the transaction volume appears low due to its specific nature, closed sales have increased by 16, and inventory is up by 50. With just around 12 days on the market, homes in this area only stay available for a short time. Get ready for some swift decisions. If you're eyeing a single-family home, be prepared to invest around $1.7 million. Condos come at a slightly lower price point, with a median price of $425,000. The appeal of living in this coveted area, surrounded by historic neighborhoods and a myriad of cultural attractions, continues to attract buyers seeking a quintessential Sarasota experience.


Analyzing the Impact of Sarasota’s New Developments


East of I-75: A Growing Hotspot


Heading east, we explore the thriving area east of Interstate 75, which includes the 34240 and 34241 zip codes, encompassing the new Waterside area on the south end of Lakewood Ranch. Despite the new developments, closed sales are only down by 2. Exciting times are ahead. As new properties enter the Sarasota’s real estate market, the inventory has increased by 32. The median price has seen a slight dip of 6. Still, it's an area worth considering for those seeking growth and potential. Single-family homes in this area are priced at around $695,000, while condos offer a more affordable option at around $397,000.


Notably, key market factors in this area are a few new construction communities, which may skew the data. Builders like Taylor Morrison (Skye Ranch), Neal Communities (Grand Park), and the Waterside area may influence the inventory figures since they sometimes withhold listing homes in the MLS.


Palmer Ranch: A Delightful Enclave


If you want a serene neighborhood with great amenities, Palmer Ranch should be on your radar. Renowned for its excellent school zoning, proximity to Siesta Key, downtown, and I-75, this area is a favorite for many homebuyers. Palmer Ranch has experienced an 8 increase in closed sales. This area is catching the attention of homebuyers. With growing demand, the inventory has gone up by 55. But fear not; there's plenty to choose from.


While pricing has experienced a slight 1 decline, the median days on the market are a brisk 26 days, indicating a strong demand for homes in this coveted location. Single-family homes in Palmer Ranch are priced at around $674,000, while condos are listed at around $367,000. The allure of a well-established community with easy access to recreational activities and cultural amenities continues to draw homebuyers to this area.


Lakewood Ranch: The Master-Planned Gem


Now, let's delve into the crown jewel - Lakewood Ranch. This highly sought-after community boasts a plethora of ongoing developments. While the market data can sometimes be skewed due to builders not constantly inputting their data, the overall trend is evident. Closed sales have risen significantly by 30, and inventory has skyrocketed by 286. Before you panic at the inventory surge, let me explain. New developments are skewing the data. But it's an exciting time for homebuyers.


However, pricing has experienced a notable 12 decline. The median days on the market are around 37 days, indicating a robust market. Single-family homes in Lakewood Ranch are currently running at an average price of around $632,000, while condos average around $394,000. The undeniable allure of Lakewood Ranch, voted as the 1 multi-generational community and 1 master-planned community in the country, continues to attract new residents. 


The 30 increase in closed sales is a significant influx of people moving to the area, seeking a well-curated lifestyle and abundant amenities. The 286 rise in inventory is mainly due to new projects from DR Horton and Lennar. Both builders construct speculative homes and list them once they are closer to completion. Their additions to the MLS create the appearance of a substantial increase in inventory year over year.


The Impact of Demographics and Lifestyle


North Sarasota: An Up-and-Coming Area


Heading north, we explore North Sarasota, which stretches from Fruitville to University Parkway. While closed sales have experienced a 16 dip, inventory has increased by 49, indicating a demand for properties in this area. The median days on the market are 24 days, indicating a steady market pace. Median pricing in North Sarasota has seen a 10 decrease, with single-family homes priced around $390,000 and condos around $237,000. The appeal of living in a vibrant area with excellent access to amenities, parks, and cultural offerings continues to draw potential buyers to North Sarasota.


Central Sarasota: A Nostalgic Neighborhood


Central Sarasota, with its charming older homes, is a favorite among certain homebuyers. It is an exciting area located south of Fruitville and north of Clark Road. A lot of these homes were built in the 1980s and 1990s and are typically smaller, under 2,000 sq ft. While closed sales have declined by 26, inventory has seen an increase of 35, indicating a balanced market. The median days on the market are approximately 16 days, indicating a brisk sales pace. Pricing in this area has experienced a 2 decrease, with single-family homes averaging $427,000 and condos around $256,000. Central Sarasota remains attractive for its convenience and affordability, drawing buyers seeking a well-connected lifestyle.


Downtown Sarasota: A Luxury Hub


Last but not least, let's venture into the heart of Sarasota - Downtown. Downtown Sarasota is a highly desirable location known for its vibrant cultural scene, luxury residences, and proximity to the waterfront. Closed sales have dipped by 14, inventory has risen by 54, and more upscale options are available for discerning buyers.


However, the most striking figure is the remarkable 285 price increase, particularly for condos. This substantial jump can be attributed to recent luxury condo developments in the area. Single-family homes in Downtown Sarasota average around $963,000, while condos now command an astonishing median price of $3.4 million. The influx of luxury condos has significantly impacted the pricing landscape, leading to this remarkable increase. Downtown Sarasota might be the ideal choice if you're seeking the epitome of urban living with easy access to world-class dining, arts, and entertainment.


Making Sense of the Numbers


As we conclude our deep dive into the numbers, a few key trends become evident across all areas:


Consistent Trends


One common thread running through Sarasota's real estate landscape is the steady increase in inventory. On average, inventory has risen by 50 across all areas, a substantial figure. Meanwhile, the market has experienced a decrease in closed sales, indicating a shift in buyer behavior.


Understanding the Pricing Paradox


Perhaps the most puzzling aspect is the pricing paradox. With increased inventory and decreased closed sales, prices might plummet. However, the data shows that overall pricing remains relatively stable, with minimal fluctuations. To comprehend this paradox, we must delve into supply and demand dynamics in the Sarasota real estate market.


Unraveling the Pricing Paradox


Sarasota’s Real estate pricing is a complex interplay of supply and demand dynamics. 2020 witnessed an unprecedented surge in demand as COVID-19 led people to explore new living arrangements. Homebuyers sought greener pastures, warmer climates, and communities that offered more outdoor activities and a higher quality of life.


Supply Side: More Homes on the Market


One significant factor impacting pricing is the supply side of the equation. In recent times, the inventory has considerably increased, typically driving prices down. As more homes hit the market, buyers have more choices, and this increased supply could lead to a price drop.


Demand Side: The Power of Generations


Yet, it is essential to analyze the demand side to grasp the situation entirely. Two key factors buoy demand in the Sarasota market:


The COVID Effect


The COVID-19 pandemic reshaped Sarasota’s real estate market landscape, increasing interest in Sarasota as a potential relocation destination. The beginning of COVID-19 brought an unprecedented surge in demand coupled with a low supply of houses, driving prices up by 70. People spending more time at home turned to online platforms like YouTube for inspiration and research. With its low cost of living, top-rated schools, and stunning beaches, Sarasota emerged as a popular choice for prospective homebuyers.


The Demand for the Sarasota Lifestyle


Another significant driver of demand is the generational trend. Baby boomers are a major force, seeking a lifestyle Sarasota perfectly embodies - warm weather, abundant recreational opportunities, a strong sense of community, and often a much lower cost of living than they are accustomed to. The baby boomer generation often sets the trend for others to follow or adapt. As a result, the demand for Sarasota's appealing lifestyle remains high, effectively offsetting the increased supply.


Looking Ahead


As we wrap up this thrilling market update, the future of Sarasota's real estate market looks promising. The balance between increased inventory and steady demand has resulted in a stable pricing environment. The county continues to invest in its community, further enhancing its desirability and attractiveness to prospective buyers.


Conclusion


In conclusion, Sarasota's real estate market is a dynamic tapestry woven with unique patterns in each area. Despite challenges, the market maintains its allure due to the attractive Sarasota lifestyle and the COVID effect. As inventory rises, we anticipate potential price corrections, making it a suitable time for buyers to explore this thriving market. If you're eager to learn more about Sarasota's real estate landscape, contact our team at info@mattleicht.com for a quick chat. Until next time






















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 ]]> </description>
    <pubDate>Tue, 08 Aug 2023 11:11:00 -0400</pubDate>
</item>
<item>
    <guid>https://www.mattleicht.com/blog/how-has-covid-19-affected-the-mortgage-industry.html</guid>
    <link>https://www.mattleicht.com/blog/how-has-covid-19-affected-the-mortgage-industry.html</link>
        <author>matt@mattleicht.com (Matt Leicht)</author>
        <title>How Has COVID-19 Affected the Mortgage Industry?</title>
    <description> <![CDATA[ 
An interview on COVID and Mortgages







Paula Switzer of Union Home Mortgage joins Matt Leicht to discuss how COVID-19 has affected the mortgage industry from a residential aspect. Paula has lived in the Sarasota area for 40 years and has been a local lender for 17 years. She has a strong background in financial institutions and worked in a real estate company for 10 years.  She covers loan forbearance and what mortgage interest rates are doing during this COVID-19 pandemic. Watch the interview above for a full report, or check out some tidbits below of our interview.







1:25 - How has COVID-19 affected the mortgage industry?




“Mortgage lenders are busy, busy, busy Rates have dropped, so everyone out there with a current existing mortgage has called to refinance.”


“There are a lot of people still inquiring about purchases.”


&quot;There has been a lot of communication between Washington DC and the Mortgage Bankers Association into, 'how do we accommodate the needs of people?'... and there's obviously been a lot of restrictions as far as tightening... there's not quite as many programs available right now.&quot;


“There is plenty of money for conventional loans.” 




3:50 - Are mortgage interest rates lower due to coronavirus? Where do you see them going the next few months?




“Interest rates are fantastic right now, they're really low. They were historically low before COVID came and now that it’s here it has dropped them even lower.”


“The 30 year fixed is sitting at 3.25 give or take [speaking without fees]...We’re in the low 3’s, 15 years are in the higher two’s.”


“10 of people think interest rates are going to go up. 45 think they are going to go down. 45 think they are going to be unchanged.” 




5:05 - How volatile are interest rates right now?




“Fortunately, the past couple of weeks we’ve seen rates level out.”




6:12 - Is now the time to refinance? And who should consider doing a refinance?




“If you’ve got anything over 4.25, 4.125 or even 4, call a lender and find out a little bit about the benefit. In Florida we don’t pay a state tax, so in Florida our closing costs are a little bit more to do a refinance. That being said, you really have to do the math on it.&quot;


&quot;Any lender can can roll in the closing costs and compare the closing costs for you. It’s just a matter of how long do you want to be in the house, when’s your break even period, and when is it going to be worth it.” 




7:40 - What is loan forbearance and how does it work?




“Loan Forbearance is not loan forgiveness. Forbearance is stopping, taking a time out on your mortgage, so to speak. That lender might be putting it on the back end of the mortgage, they might be making arrangements where you're just doing forbearance for a couple of months...We don't know exactly how that's going to look on the back end, however, it's not forgiveness. That money is eventually going to be due.”


“If you are going to be buying a home, just because you can, doesn’t mean you should.”


“Unless you really have a reason, I wouldn’t take advantage of that [forbearance]. But certainly if you need it, it’s there for you.”


&quot;Different servicers [that's who you make your payment to], are handling things a little bit differently. We do know that it’s not causing a negative impact on your credit score right now.”




11:15 - Will an income dip during COVID-19 affect their ability to obtain a mortgage in the future?




“I would think, again this is my opinion it's not a fact, that lenders are going to be looking at it like you’ve had a surgery, you're off work for a period of time, you've had a maternity leave…”


“I think as long as you can explain it, and there’s that snapshot of them being unemployed, I think that we can take that out. Because obviously that’s going to drag down their income.” 


*Listen in for Paula's opinion on obtaining a mortgage for commission, bonus, and overtime income situations






Contact Information




Paula Switzer, Loan Officer


 Cell - 941.232.5884 


Email - pswitzer@unionhomemortgage.com


-




Matt Leicht, Realtor®


Cell - 941.256.3321


Email - Info@MattLeicht.com




 ]]> </description>
    <pubDate>Tue, 28 Apr 2020 11:10:00 -0400</pubDate>
</item>
<item>
    <guid>https://www.mattleicht.com/blog/will-covid-19-cause-a-housing-crisis.html</guid>
    <link>https://www.mattleicht.com/blog/will-covid-19-cause-a-housing-crisis.html</link>
        <author>matt@mattleicht.com (Matt Leicht)</author>
        <title>Will COVID-19 Cause a Housing Crisis? </title>
    <description> <![CDATA[ 
COVID and Real Estate







I have had many people reach out to me the last few weeks with this question, and I am honored that many would value and trust my opinion on the matter. While there is no magic “crystal ball” to predict the future, we can look back on the past and find similarities and differences. These facts may help us predict what is to come in the future. I recently came across an article on “Keeping Current Matters” that has a great breakdown on the difference between the 2008 housing crash and our current 2020 pandemic.


See, in 2008 we faced a housing crisis. Today we face a pandemic. Yes, the pandemic will have an affect on the economy, but I do not believe we will see the same thing with the housing market that we did in 2008. I’ve heard people say that there have been 20+ million people that have filed for unemployment. I understand this is what happened during the 1928 great depression. However, many of these people will return to their jobs once the economy opens up again.


“Keeping Current Matters” talked through a few factors that I am going to dig into within this blog below, comparing 2008 to 2020 and how it may predict the future. Let's take a look into: Appreciation, Mortgage credit, Inventory of homes on the market, and Use of home equity.


Appreciation


When we look back at the home appreciation of 2000-2005 leading up to the crash, we see that there was an average of 9.3 per year, with one year being 12.5. From 2014-2019 we’ve seen the appreciation average at 5.1, with the most at 6.4 in 2017.


When there is too much appreciation, we know that we are leading up to the “bubble” and eventually the market will have to correct itself. Though in my opinion, we are not at a “bubble” like we were in 2008.



Mortgage Credit


The Mortgage Credit Availability Index is a monthly measure by the Mortgage Bankers Association that gauges the level of difficulty to secure a loan. In other words, the higher the number, the easier it is to get a loan. Since the crash of 2008, there have been a lot of changes making it more challenging to obtain a loan. This is a great thing to help protect the housing market because it helps filter out people who qualify for a mortgage and are less likely to get foreclosed on.



Inventory of Homes on the Market


Months supply of inventory is defined by how many months it would take to sell out all of the active listings on the market if no “new” listings were to come. It is considered to be a “Sellers Market” when there is less than 6 months supply. This means there are low inventory levels. It is considered to be a “Buyers Market” when there is greater than a 6 months supply. This means that there is a lot of inventory for Buyers to select from.


During the crash of 2008 we moved very quickly from a “Sellers Market” into a “Buyers Market”. In 2008 the months supply of inventory was 11 months Today the months supply of inventory is right around 3-4 months. So, we are very far from have an overload of properties on the market.



Use of Home Equity


This chart below from “Keeping Current Matters” uses data from Freddie Mac showing the amount of equity people are cashing out in their homes. In the three years leading up to 2008, $824 billion was cashed out, and many people were using that money to go on vacation, purchase new cars, new boats etc... In other words, they were using the money to purchase “lifestyle” upgrades. In the past three years, $232 billion was cashed out, which is significantly less. Many people are using this money to improve the value of their home through home renovation projects, or they are using the money to further their education.


We WILL get through this TOGETHER, and we know that hope is more contagious than fear.



Source


KCM Crew. “Think This is a Housing Crisis? Think Again.” Keeping Current Matters, 15 April 2020, https://www.keepingcurrentmatters.com/2020/04/15/think-this-is-a-housing-crisis-think-again/


Contact Matt 


Matt Leicht, Realtor®


Cell - 941.256.3321


Email - Info@MattLeicht.com
 ]]> </description>
    <pubDate>Mon, 27 Apr 2020 08:55:00 -0400</pubDate>
</item>
<item>
    <guid>https://www.mattleicht.com/blog/sarasota-real-estate-market-update-q1-2020.html</guid>
    <link>https://www.mattleicht.com/blog/sarasota-real-estate-market-update-q1-2020.html</link>
        <author>matt@mattleicht.com (Matt Leicht)</author>
        <title>Sarasota Real Estate Market Update - 2020</title>
    <description> <![CDATA[ 
Quarter 4 - 2020 


Let's take a look back to October, November, and December of 2020 as I review what the real estate market did in the last couple of months. 







Brief Market Summary For Q4 2020


Overall in the 4th quarter we’ve seen a lot of similarities that we saw in quarter 3 of 2020. Low inventory of homes on the market paired with homes selling quickly. The median days of getting a contract on a property was 28, compared to 39 days at this time of year in 2019. 


Single Family Homes: Single family sales were up 40. Inventory was down 48. Sale price increased from $324K to $393K which is a 21 increase. Average time on the market was 18 days. Compared to 36 days last year. This means that homes sold 50 quicker. 


Condominiums: Condo sales were up 29. Inventory was down 31. Sale price increased from $242K to $272K which is a 12 increase. Average time on the market was 38 days. Compared to 42 days last year. This means that condos in Sarasota County sold 10 quicker than the previous year.


Moving forward to 2021, I expect to see similar trends with low inventory and a high volume of sales. New construction is also continuing to increase with even more homes and communities appearing. The length of build time for new construction homes is increasing from around 6-8 months, now up to 10-12 months. So Buyers looking for new construction may need to reconsider their timelines.


Seeing a summary of Sarasota market statistics is beneficial, however, the real estate market is very location specific. For best results and statistics, you'll want to check out what the numbers say per that specific location. Download my free PDF titled, Sarasota Real Estate Market Q4 2020 or watch the update on my YouTube, Sarasota Real Estate Market Q4 2020. These market updates feature Sarasota market stats broken down by area. The following areas are featured in the updates: Islands and Keys, Downtown Sarasota, West of the Trail, East of I-75, Palmer Ranch, Lakewood Ranch, Nokomis/Osprey, and Venice.


For a free market report on your home, neighborhood, or specific area contact me at 941-356-5377 or by email at Matt@MattLeicht.com. Real estate is very specific per property, neighborhood, and area; if you have questions on your specific residence or any of these areas, send me a text or give me a call. I'd be honored to help answer any questions or assist you in your home buying or selling process. 


What will you find in my market PDF? My Sarasota Real Estate Market PDF breaks down Sarasota and the surrounding areas. For Q4 2020, you will find the number of closed sales, the average active inventory, the median sales price, and the average number of days on the market for Sarasota real estate. These statistics are separated by both single family homes and condominiums, so you can see the data that applies to your interest. You'll also find a comparison of Q4 2020 to the previous year, Q4 2019. See your specific area of interest as the market update details Sarasota County as a whole, but also breaks down the areas of Sarasota which includes: Islands and Keys, Downtown Sarasota, West of the Trail, East of the Trail, Palmer Ranch, Lakewood Ranch, Nokomis/Osprey, and Venice. All of the areas listed above work directly with my custom home search tool right here on my website. This means, you can search properties in the same location in which you can analyze the market data. To search Sarasota real estate, click here.



Quarter 3 - 2020 


Let's take a look back to July, August, and September of 2020 as I review what the real estate market did in the last couple of months. Download the free PDF below for my full Sarasota Real Estate Market Update Q3 2020 or watch the update on Market with Matt - Sarasota Real Estate Market Update Q3 2020 below. 


 




Brief Market Summary For Q3 2020


Overall in the 3rd quarter we noticed less inventory, however more transactions were occurring. This means that we are in a Sellers Market with the average months supply of inventory being 2.2 months. With a well marketed and priced property, you should see your property selling rather quickly in my opinion. 


Single Family Homes: Single family sales were up 19. Inventory was down 36. Sale price increased from $319K to $356K which is a 12 increase. Average time on the market was 33 days. Compared to 47 days last year. This means that homes sold 31 quicker. 


Condominiums: Condo sales were up 24. Inventory was down 11. Sale price increased from $232K to $247K which is a 6 increase. Average time on the market was 50 days. Compared to 59 days last year. This means that condos in Sarasota County sold 16 quicker than the previous year.


Moving forward to the next quarter, I expect to see a price increase due to the building supply shortage. I also expect to see more inventory coming on the market. It's likely to see an increase in new construction sales with so many new neighborhoods going up across Sarasota


Seeing a summary of Sarasota market statistics is beneficial, however, the real estate market is very location specific. For best results and statistics, you'll want to check out what the numbers say per that specific location. Download my free PDF titled, Sarasota Real Estate Market Update Q3 2020 or watch the update on my YouTube, Market with Matt - Sarasota Real Estate Market Update Q3 2020. These market updates feature Sarasota market stats broken down by area. The following areas are featured in the updates: Islands and Keys, Downtown Sarasota, West of the Trail, East of I-75, Palmer Ranch, Lakewood Ranch, Nokomis/Osprey, and Venice.


For a free market report on your home, neighborhood, or specific area contact me at 941-356-5377 or by email at Matt@MattLeicht.com. Real estate is very specific per property, neighborhood, and area; if you have questions on your specific residence or any of these areas, send me a text or give me a call. I'd be honored to help answer any questions or assist you in your home buying or selling process.


What will you find in my market PDF? My Sarasota Real Estate Market PDF breaks down Sarasota and the surrounding areas. For Q3 2020, you will find the number of closed sales, the average active inventory, the median sales price, and the average number of days on the market for Sarasota real estate. These statistics are separated by both single family homes and condominiums, so you can see the data that applies to your interest. You'll also find a comparison of Q3 2020 to the previous year, Q3 2019. See your specific area of interest as the market update details Sarasota County as a whole, but also breaks down the areas of Sarasota which includes: Islands and Keys, Downtown Sarasota, West of the Trail, East of the Trail, Palmer Ranch, Lakewood Ranch, Nokomis/Osprey, and Venice. All of the areas listed above work directly with my custom home search tool right here on my website. This means, you can search properties in the same location in which you can analyze the market data. To search Sarasota real estate, click here.


Quarter 2 - 2020 


Let's take a look back to April, May, and June of 2020 as I review what the real estate market did in the last couple of months. Download the free PDF below for my full Sarasota Real Estate Market Update Q2 2020 or watch the update on Market with Matt - Sarasota Real Estate Market Update Q2 2020 below. 


What will you find in my market PDF? My Sarasota Real Estate Market PDF breaks down Sarasota and the surrounding areas. For Q2 2020, you will find the number of closed sales, the average active inventory, the median sales price, and the average number of days on the market for Sarasota real estate. These statistics are separated by both single family homes and condominiums, so you can see the data that applies to your interest. You'll also find a comparison of Q2 2020 to the previous year, Q2 2019. See your specific area of interest as the market update details Sarasota County as a whole, but also breaks down the areas of Sarasota which includes: Islands and Keys, Downtown Sarasota, West of the Trail, East of the Trail, Palmer Ranch, Lakewood Ranch, Nokomis/Osprey, and Venice. All of the areas listed above work directly with my custom home search tool right here on my website. This means, you can search properties in the same location in which you can analyze the market data. 




 


Brief Market Summary For Q2 2020


Overall the 2nd quarter showed a dip of around 30. April was by far the worst month because most people were quarantined at home and looking to purchase property wasn’t their priority. However once restrictions began to decrease, we had one of the strongest months ever for the month of May and into June. I believe this is because people who were quarantined at home in northern states began to think about their next chapter in their life. 


Single Family Homes: Single family sales were down 32. Inventory was down 28. Sale price increased from $323K to $334K which is a 3 increase.Average time on the market was 40 days. Compared to 54 days last year. This means that homes sold 22 quicker. 


Condominiums: Condo sales were down 35. Inventory was down 16. Sale price increased from $239K to $241K which is a 1 increase. Average time on the market was 44 days. Compared to 57 days last year. This means that condos in Sarasota County sold 22 quicker than the previous year.


Moving forward to the next quarter, I expect to see an increase in the market. I think people realize that the cost of living is far less in Florida than some other less desirable areas in the country. Also property taxes in some states are increasing drastically, so many of those people are relocating to Florida. 


Seeing a summary of Sarasota market statistics is beneficial, however, the real estate market is very location specific. For best results and statistics, you'll want to check out what the numbers say per that specific location. Download my free PDF titled, Sarasota Real Estate Market Update Q2 2020 or watch the update on my YouTube, Market with Matt - Sarasota Real Estate Market Update Q2 2020. These market updates feature Sarasota market stats broken down by area. The following areas are featured in the updates: Islands and Keys, Downtown Sarasota, West of the Trail, East of I-75, Palmer Ranch, Lakewood Ranch, Nokomis/Osprey, and Venice.


For a free market report on your home, neighborhood, or specific area contact me at 941-356-5377 or by email at Matt@MattLeicht.com. Real estate is very specific per property, neighborhood, and area; if you have questions on your specific residence or any of these areas, send me a text or give me a call. I'd be honored to help answer any questions or assist you in your home buying or selling process.


Quarter 1 - 2020


Let's take a look back to January, February, and March of 2020 as I review what the real estate market did in the last couple of months. Download the free PDF below for my full Sarasota Real Estate Market Update Q1 2020 or watch the update on Market with Matt - Sarasota Real Estate Market Update Q1 2020 below. 


What will you find in my market PDF? My Sarasota Real Estate Market PDF breaks down Sarasota and the surrounding areas. For Q1 2020, you will find the number of closed sales, the average active inventory, the median sales price, and the average number of days on the market for Sarasota real estate. These statistics are separated by both single family homes and condominiums, so you can see the data that applies to your interest. You'll also find a comparison of Q1 2020 to the previous year, Q1 2019. See your specific area of interest as the market update details Sarasota County as a whole, but also breaks down the areas of Sarasota which includes: Islands and Keys, Downtown Sarasota, West of the Trail, East of the Trail, Palmer Ranch, Lakewood Ranch, Nokomis/Osprey, and Venice. All of the areas listed above work directly with my custom home search tool right here on my website. This means, you can search properties in the same location in which you can analyze the market data. To search Sarasota real estate, click here.







Brief Market Summary For Q1 2020


Overall the market statistics are saying that we have lower inventory than last year, pricing has increased slightly, and due to the low inventory, property is selling 36 faster than what we saw in the first quarter of 2019. In Sarasota County as a whole (South of University to South Venice), see a brief overview of what we saw single family homes and condominiums do below.


Single Family Homes: Single family sales were up 13. Inventory was down 25. Sale price increased from $312,874 to $325,833, which is a 4 increase. Average time on the market was 34 days, compared to 46 days last year. This means that homes sold 27 quicker.


Condominiums: Condo sales were up 33. Inventory was down 20. Sale price increased from $234,465 to 255,000, which is a 9 increase. Average time on the market was 41 days, compared to 51 days last year. This means that condos in Sarasota County sold 19 quicker than the previous year.


Moving forward to the next quarter, we expect to see a dip in the real estate market due to COVID-19. We have already seen a substantial increase in properties being removed from the market as homeowners abide by social distancing recommendations. 


Seeing a summary of Sarasota market statistics is beneficial, however, the real estate market is very location specific. For best results and statistics, you'll want to check out what the numbers say per that specific location. Download my free PDF titled, Sarasota Real Estate Market Update Q1 2020 or watch the update on my YouTube, Market with Matt - Sarasota Real Estate Market Update Q1 2020. These market updates feature Sarasota market stats broken down by area. The following areas are featured in the updates: Islands and Keys, Downtown Sarasota, West of the Trail, East of I-75, Palmer Ranch, Lakewood Ranch, Nokomis/Osprey, and Venice.


For a free market report on your home, neighborhood, or specific area contact me at 941-356-5377 or by email at Matt@MattLeicht.com. Real estate is very specific per property, neighborhood, and area; if you have questions on your specific residence or any of these areas, send me a text or give me a call. I'd be honored to help answer any questions or assist you in your home buying or selling process.


Contact Matt 


Matt Leicht, Realtor®


Cell - 941.256.3321


Email - Info@MattLeicht.com
 ]]> </description>
    <pubDate>Fri, 24 Apr 2020 10:57:00 -0400</pubDate>
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    <guid>https://www.mattleicht.com/blog/sarasota-real-estate-report-august-2019.html</guid>
    <link>https://www.mattleicht.com/blog/sarasota-real-estate-report-august-2019.html</link>
        <author>matt@mattleicht.com (Matt Leicht)</author>
        <title>Sarasota Real Estate Report: August 2019</title>
    <description> <![CDATA[ 
Housing Trends Hold Steady as Summer Closes


The combined number of properties sold in Sarasota and Manatee counties increased by 3.7 percent from July 2018 to July 2019. According to monthly reports from Florida REALTORS®, combined inventory in the two-county area decreased but more new listings entered the market this month compared to the same time last year.


In Sarasota County, single-family home sales increased by 13.9 percent to 802 and Manatee single-family home sales decreased by 1.8 percent to 611. Manatee condo sales increased by 8.7 percent to 237, while Sarasota condo sales decreased by 10.6 percent to 305.




“With holidays and family vacations, July is traditionally a slower month for sales,” said Amy Worth, 2019 President of the REALTOR® Association of Sarasota and Manatee. “Single-family homes are showing more pending sales and more new listings this year. If prices continue to steady and interest rates stay low, we can expect to see an uptick in sales for the single-family market.”




Pending sales, or the number of properties that went under contract during the month, increased for single-family homes but decreased for condos. Compared to last year, single-family pending sales increased by 6.7 percent in Sarasota County and increased by 7.2 percent in Manatee County. Condo pending sales decreased by 1 percent in Sarasota and decreased by 9.1 percent in Manatee.


The number of properties put onto the market during the month increased for single-family homes but decreased for condos. New listings for single-family homes increased by 10.9 percent in Sarasota and increased by 8.5 percent in Manatee. Condo new listings in Manatee decreased by 18 percent, while Sarasota decreased by 7.6 percent.


Median prices increased for single-family homes but decreased for condos. In Manatee County, single-family prices increased by 5 percent to $325,000 and condos decreased by 4.1 percent to $191,000. Sarasota single-family home prices increased by 3.3 percent to $290,000, while Sarasota condo prices decreased by 3.4 percent to $224,000.


The overall median time from listing to contract increased in the two-county area. Sarasota single-family homes spent more time on the market with an 11.5 percent increase to 58 days, while condos in Sarasota increased by 25.4 percent to 79 days on the market. The median time to contract for Manatee single-family homes increased by 8.2 percent to 53 days on the market and Manatee condos increased by 29.5 percent to 57 days on the market.


Combined inventory for both markets in both counties decreased year-over-year by 1.7 percent. Condo inventory in Sarasota County increased by 8.5 percent, while Manatee decreased by 2 percent. Single-family home inventory decreased by 1.9 percent in Sarasota and decreased by 8.2 percent in Manatee County.


In July 2019, the month’s supply of inventory indicates a seller’s market across the two counties. Sarasota single-family home supply decreased by 2.6 percent to a 3.8-month supply, while the condo market sits at a 4.9-month supply, a 19.5 percent increase from this time last year. As for Manatee County, single-family home supply decreased by 12.8 percent to a 3.4-month supply, while condos decreased by 2.6 percent to a 3.7-month supply.


Monthly reports are provided by Florida REALTORS® with data compiled from My Florida Regional Multiple Listing Service. For comprehensive statistics dating back to 2005, visit www.MyRASM.com/statistics.


Contact Matt 


Matt Leicht, Realtor®


Cell - 941.256.3321


Email - Info@MattLeicht.com
 ]]> </description>
    <pubDate>Fri, 23 Aug 2019 07:39:00 -0400</pubDate>
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