What Our Shifting Market Really Means for Buyers and Sellers

 Though our market is shifting, there’s no need to worry about a downturn happening anytime soon.

What’s the latest news from our Tampa Bay/Sarasota market?

The statistics from the beginning of the year showed that home sales decreased year over year. However, the most recent numbers from the month of February saw year-over-year increases in both the average price and home sales. Along with these gains, inventory increased and interest rates remained low, which kept our market nice and balanced.

Though supply is catching up with demand, it’s still a seller’s market in Tampa Bay, while Sarasota’s market is becoming more of a buyer’s market.

We are seeing a shift in the market, but not in the way you might think. We’re shifting into more of a stabilizing, balanced market, and what consumers want is shifting as well. That being said, any fear that we’re about to roll into some kind of downturn is unfounded.

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Any fear that we’re about to roll into some kind of downturn is unfounded.

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If you’re a seller and your home is priced well and looks good, it’s going to sell. If you’re a buyer, you might still have to compete against other offers, but not nearly as many as you previously would have. In general, the higher the price range you look in, the less competition you’ll have to deal with.

In short, all things point to a solid 2019 for Tampa Bay and Sarasota.

If you’d like to know more about what’s happening in our market or you’re thinking of buying or selling a home, don’t hesitate to reach out to us. We’d love to help you.