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Listen as Andrew Duncan, Tampa Bay's #1 Realtor and expert talks about Tampa and Sarasota Real Estate statistics for March.
The average sale price of homes in Tampa went up about 15% from last year. The 2.9 months of inventory or very little inventory means homes are selling fast especially in the mid-level price range and changes a little bit as you climb the price chart. When you reach the million dollar range, there is still a lot of inventory but ultimately it is a healthy Real Estate market with a lot of great signs and stability.
Sarasota is a bit different because it's more of a vacation market. The peak season is opposite than that of Tampa's. Single family homes in Sarasota County has an average sale price of $356k which increased 17% from last year. Inventory has increased from 4.5 months to 4.7 months. SF homes in Manatee county also rose in price from $330k to $342k and inventory increased from 4.6 to 4.8. The increase in inventory is because this is not their in season. Their in season is from December-February when the snowbirds are down there looking for vacation or second homes. For townhomes and condos in Sarasota, there was also a 17% increase in the average sale price and inventory from 4.6 to 5.4. In Manatee county, the average sale price dropped 3% from 255k to 199k but the inventory went up.
He also talks about the differences between the Tampa and Sarasota markets. He discusses how the million dollar market differs in Tampa and Sarasota where the saturation rate in Sarasota is not as bad as Tampa's market.
To get more Tampa Bay Real Estate news and advice from Tampa Bay's #1 Realtor, tune in to The Duncan Duo Real Estate Show on 970 WFLA - Tampa Bay every Sundays at 10 am.
The average sale price of homes in Tampa went up about 15% from last year. The 2.9 months of inventory or very little inventory means homes are selling fast especially in the mid-level price range and changes a little bit as you climb the price chart. When you reach the million dollar range, there is still a lot of inventory but ultimately it is a healthy Real Estate market with a lot of great signs and stability.
Sarasota is a bit different because it's more of a vacation market. The peak season is opposite than that of Tampa's. Single family homes in Sarasota County has an average sale price of $356k which increased 17% from last year. Inventory has increased from 4.5 months to 4.7 months. SF homes in Manatee county also rose in price from $330k to $342k and inventory increased from 4.6 to 4.8. The increase in inventory is because this is not their in season. Their in season is from December-February when the snowbirds are down there looking for vacation or second homes. For townhomes and condos in Sarasota, there was also a 17% increase in the average sale price and inventory from 4.6 to 5.4. In Manatee county, the average sale price dropped 3% from 255k to 199k but the inventory went up.
He also talks about the differences between the Tampa and Sarasota markets. He discusses how the million dollar market differs in Tampa and Sarasota where the saturation rate in Sarasota is not as bad as Tampa's market.
To get more Tampa Bay Real Estate news and advice from Tampa Bay's #1 Realtor, tune in to The Duncan Duo Real Estate Show on 970 WFLA - Tampa Bay every Sundays at 10 am.
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