Is Sarasota's Real Estate Market On The Verge Of A Crash?

[@dreyes8948]

The owner insurance factor will be something that will affect the prices in Sarasota county prices along with all coast area in múltiple states

[@johnlattarulo2578]

Prices are still high because builders are holding out for the hopes that lower rates will reignite the boom. I am watching new construction site maps that have been for the most part been pretty stagnant. It all depends on why rates are dropping. If it is to save a failing economy then all bets are off. I am currently seeing more value in resales vs new construction but you really need to look since they are few and far between. Think this is a wait and see market at best going into 2025. There will probably be another insurance rate shock at renewal as well.

[@cjjohnson4231]

Good video and good predictions. As a retired resident since 2019, my best guess is prices will go down slightly in the short term with most homes on the coast not returning to the high growth we have seen in recent years. The ultra wealthy can self insure and have multiple homes so you could see more growth on the coast like Casey Key, LB Key, etc. Neighborhoods east of I75 could see strong growth in prices, especially if we get a slow down in permits and development. However, increased costs from overall costs of living, insurance costs and divisive politics could slow growth. The over development has to stop to help manage the storm water runoff, infrastructure delays, traffic, etc.

[@johnlattarulo2578]

Many of these HOA's do not allow self insurance even it the home is mortgage free. i guess they don't want the eyesore of a destroyed home where the funds are not available for repair.

[@cjjohnson4231]

@@johnlattarulo2578 interesting point. My HOA doesn’t ask for proof of coverage.

[@jimshoe402]

No Thanks Hurricanes .. But Good luck my other LOST a $900K sale..