“For some, the [Covid-19] pandemic has caused a shift in people’s attention away from real estate, yet it seems it was only for a short time, and nowhere near the extent we thought possible,” said David Clapp, 2020 President of the Realtor® Association of Sarasota and Manatee.
The primary reason the market slowed down was safety, which prompted shutdowns. As a result, Sarasota County experienced declines in April in closed sales, pending sales and new listings coming to market for the same period as last year. The impact of the slow-down appears to be short-term and the Sarasota real estate market is trending toward recovery.
Low inventory spells good news for sellers, since there are fewer homes for buyers to choose from. While there were fewer sales, properties spend less time on the market and prices increase because the demand is still there. Online activity on real estate sites is high, and I am busy. There are still serious buyers eager to complete a sale who want/need to move and interest rates remain historically low.
New inventory is needed. Should you know of anyone looking to sell, please reach out to me. I am here to help you, your family and your friends with any market questions or concerns related to your own property, real estate goals, or anything else you may need.