The data is in, folks – Florida is the place to be! With positive contributors like steady mortgage rates, coupled with the boost in seller confidence, the Sunshine State’s housing market in the second quarter has been on an upward trajectory. Below, I’ve highlighted some of the key figures from Michael Saunders & Co.’s Q2 2019 market report.

According to the quarterly report, total homes for sale in Sarasota, Manatee and Charlotte counties have been up about 7.4 percent from January to June, compared to those within the same time frame in 2018. A home’s average days on the market increased to 6.7 percent, and median sale price went up 2 percent. With more buyers and fewer new listings, the change of the seasons brings about a competitive market. 

In Sarasota, the numbers are even more impressive. Total homes on the market are up by 11.3 percent,1.7 percent of which are closed, even with sale prices increase of 2.3 percent. However, the average home’s days on the market increased in the area at 10.5 percent. This is about 5 percent higher than a home’s average days on the market in Manatee and Charlotte counties.

We certainly see the steadiness in data within the luxury housing market, but the real success comes from condominium sales. This quarter, condo sales went up 13.1 percent, which is about 10 times more than that of the average home on the market in the same areas. 

According to a survey done by Wells Fargo, 89 percent of buyers say homeownership outweighs any drawbacks that come with purchasing a home. It seems Americans are willing to go the extra mile to make their homeownership goals a reality. 

If you are ready to buy or sell your home or condo, give me a call today at 941-225-1500! I take great pride in going above and beyond to meet the needs of my clients, as shown through the feedback I’ve received over the years. Throughout the entire homebuying and selling process, you can count on me to be there every step of the way.