Sarasota Real Estate Stats Update – Luxury Sales compared to Tampa & Manatee, Inventory, Average Prices

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Andrew Duncan, Tampa's #1 Realtor, talks to Michael Barbino from The Duncan Duo's Sarasota office and Arnie Diaz of Waterstone Mortgage about the most recent Sarasota and Manatee real estate stats, average prices, saturation rates, how the market differs from Tampa in certain price ranges and much more.

Last month's stats showed a year over year decrease in home sale and inventory but a significant increase in home value. Michael talks about the numbers this month which shows that the market is similar to Tampa's except that there was an increase in the inventory as oppose to a decrease. Prices are going up which seems to be because of the price point increase. The market is starting to slow down a little bit though it's ironic because the in season for Sarasota is coming up. 

Arnie pointed out that there are a lot less cash sales although Sarasota and Manatee is a higher priced market. Since the recession, there has been a historicaly high amount of cash transactions. Down payments used be about 50% but are now down to 20-30%. Condos and townhomes cash transactions are higher though because of the misconception that it's harder to get financing on condos. There has been a lot less cash than a year ago. 

They also talk about how there is not much going on in the foreclosure market as there was a year ago. On the other hand, Sarasota and Manatee are doing well in the upper and or luxury market. The million dollar plus sales consistently outpaces Tampa. 

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