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I wanted to share a few snippets of information from our Realtor Association for Manatee and Sarasota County. The housing market so far for January is trending similar to the last quarter of 2024, with a gradual increase in inventory and days on market prior to contract. This is leading us to a more balanced market, favorable to buyers. "The transition towards a more normalized, higher inventory market presents advantages for buyers, offering them increased leverage in negotiating prices, repairs, and closing cost credits," said Tony Barrett, 2024 RASM President.
Both Manatee and Sarasota Counties have also had an increase in median sales prices, so this balanced market is a good opportunity for buyers and sellers alike. Tony Barrett commented, "In the coming months, potential shifts in interest rates and insurance costs could reshape the market dynamics. Should interest rates decrease and insurance costs follow suit, we may anticipate a resurgence of buyers entering the market once again."
On Anna Maria Island we are seeing an additional increase in listings that have been remediated from the hurricanes, but they have not yet been updated. These properties are typically listed at or close to land value, depending on if they can easily be repaired or not. I'm happy to discuss options! The vacation rentals that were not damaged or able to be repaired quickly are filling up fast for the season, but many vacation rental owners are still struggling to get their homes back to 100% so they can be added back into the rental pool. The majority of the restaurants and businesses are open again. AMI and surrounding areas will rebound as quickly as possible, as we all depend on tourism for our businesses to thrive.
Please feel free to use my website to do up to date MLS searches for available properties, market update reports, or click on the "what is my home worth" link if you would like for me to do an analysis of what I can list your home for.
www.robynhawkhomes.com
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