IMPORTANT Sarasota Real Estate Market Update (May 2024) - It's Not What You Think!

Here's a comprehensive update on the Sarasota housing market (May 2024), covering the current state of the local market, median prices, inventory levels, and strategies for both buyers and sellers. There's a lot to unpack as the Sarasota real estate landscape continues to evolve.
00:00 - Intro
00:33 - Summary
02:21 - Outliers
03:36 - SFH Median Price
05:24 - SFH Inventory
07:25 - SFH Days On Market
08:27 - Sarasota Condos
11:36 - Condo Opportunity
12:29 - Sarasota Market Crashing?
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Regions covered: Sarasota, Lakewood Ranch, Bradenton, Venice, St. Pete Area, Englewood
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➡DISCLAIMER: All content provided on this KZbin channel is for educational and entertainment purposes. The owner of this channel, Anne "Katrin" Pfitzenreiter, PLLC (Katrin) makes no representations as to the accuracy of any information on this site. Information provided is subject to change, as they so often do in this fast-paced world. Katrin or any of the channel guests will not be liable for any mistakes in this information. Katrin or any channel guests will not be liable for any injuries or damages from the display or use of this information. Please consult with Katrin directly to discuss the latest real estate situation as it is ever-evolving.
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[@InimicusSolitus]

It took 95 days for our home in central Sarasota to go pending. We close tomorrow, as we get ready to move to NC.

[@gianmichaelshannon5974]

Good move. Better long term play

[@s99614]

If it's taking 5 months to sell a house, your asking price is too high.

[@buffaloman5042]

They are building too many homes in Southern Sarasota county..Northport Wellen Park etc..

[@s99614]

At these prices I'm surprised that anyone still moves to Florida.

[@thesrqrealtor]

For NYers or CA folks it’s not expensive ….their real estate prices are far more expensive

[@MichaelBrown-ny3et]

The market distortion is only going to get worse. It’s the continual devaluation of the dollar that will enable permanent price increases. The rich will continue to eat up inventory as most average buyers will no longer be able to afford a home. One more storm and most will loose insurance.

[@jrgb9945]

Oh, prices might not be officially dropping a lot, but the reality is closings are way way down. The prices will follow.

[@keithgoodman762]

Was curious of your thoughts on some of the older 55+ in Sarasota and Manatee. Places like Glen Oaks and Desoto Square. Both seem to have some big dips in prices.

[@danielhuntington2116]

Very nice explanations Katrin! 👍 👍

[@codyweaver784]

Hi Katrin! You rock 💯 Best realtor in the marketplace without a doubt. Thank you 😊 🙏🏻

[@thesrqrealtor]

Hi Cody, good seeing you on here! Thank you for your very kind words! Looking forward to seeing your home come alive.

[@michaelp5518]

I think the condo market is going to drop in price rather severely. The unknown alone will keep people away from condo’s. I have seen HOA’s double plus accessments on top of that.

[@thesrqrealtor]

I agree with older condos (3 plus stories).

[@karnevil9959]

There's a lot of shadow inventory in the Sarasota Metro area. With not being homesteaded to cap property tax increases, rising insurance, HOA's, CDD's Air Conditioner running 24/7 in empty homes off season, people are bailing while they can still cash in with high prices. Many are just having a hard time justifying the rising costs of a second non essential home.

[@TheDukens90]

Sarasota house way too expensive More expensive with no HOA

[@kdtune33]

All the PPP (free money) cash is gone, today you have to use your own money, not taxpayers to buy that condo on the beach.

[@mikem4432]

If your home is sitting on the market for more than 30 days, it is way OVER PRICED.