Sarasota & Manatee County Real Estate Market Report March 2024 | Trends & Insights

Sarasota & Manatee County Real Estate Market Report March 2024 | Trends & Insights
Sarasota and Manatee County Real Estate Market Outlook March 2024
Curious about the Sarasota and Manatee County Real Estate Market for March 2024? In this video, Susan and Judy present an in-depth review of the latest market outlook, offering key insights and expert analysis to guide you through the real estate landscape. We cover essential topics such as closed sales, median price changes, days to contract, inventory levels, and emerging trends that could impact your buying or selling decisions.
Whether you're an investor, homebuyer, or just interested in staying informed, this video provides valuable information to help you navigate the Sarasota and Manatee County real estate market with confidence. Stay ahead of the curve by understanding what the latest data reveals about this dynamic market.
Key Highlights:
- Sarasota and Manatee County real estate trends for March 2024
- Analysis of closed sales and median price changes
- Insights on days to contract and current inventory levels
- Expert commentary on market trends and predictions
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Florida Gulf Coast Living is the BEST! Welcome to our channel about living in Sarasota and Manatee County, Florida. If you're relocating, moving up, downsizing, and building new in Sarasota or Manatee County we can help! Both Judy and I are dedicated to sharing information, educating, and helping our customers with real estate needs in Sarasota and Manatee Counties, which includes Parrish to Punta Gorda. I have lived in Sarasota County for 37 years, and there is nowhere else I would rather be! Judy is our North Manatee expert and has lived in that area for over 20 years.
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[@FloridaGulfCoastLiving]

What do you think is the most surprising trend in the Sarasota and Manatee real estate markets for Q1 2024? Drop your thoughts below and let's discuss! 👇 #SarasotaRealEstate #ManateeMarketTrends

[@coralpetals]

This report is excellent! Thank you!

[@FloridaGulfCoastLiving]

Thanks Coralpetals. We just want to get the information to our viewers so they know what is going on in our market.

[@onemishelle]

Can you please elaborate on the condo market? What is expected with condo fees? Is there an expectation of them remining high or coming down after 2025? I am interested in being on Siesta Key. TIA.

[@FloridaGulfCoastLiving]

Hi @onemichelle. I wish I had the answer to your question. I have 2 people that are being priced out of their condo because the HOA fees have doubled to pay for increased insurance rates. After the awful event in Surfside, Fl. "the state requires a "Milestone" inspection to determine the condition of condos that are of a certain age. buildings that are three stories or taller can now undergo a “milestone inspection” after being occupied for 30 years, unless local officials deem that there are “local circumstances, including environmental conditions such as proximity to salt water,” that would require a milestone inspection every 25 years if they were within three miles of the coastline." Because many of the condos on Siesta are of that age they are required to get that inspection which may or may not affect insurance rates. At this point, it is my guess that rates have hit the market and most HOAs are feeling the effects. Will there be another increase? It's too hard to say. Supposedly the insurance market is in the process of "righting" itself. But will rates go down? Perhaps with major improvements like new roofs that might get paid for by an assessment, the rates will decrease. Buying a condo requires a look at the financials, the meeting minutes and the current and proposed budget. That way you know if the expenses are going to be more than the reserves on hand as that would require an assessment or an increase in monthly fees. Let me know if you want to investigate any condos on the key. I live around the corner and love going out there with customers. I hope this helps.