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Sarasota Luxury Real Estate Market Snapshot: February 2024

Sarasota Luxury Real Estate Market Snapshot: February 2024

What a Difference a Year Makes

Sales are steady, but inventory is up 64%

Our managing broker, Craig Cerreta, just released hise February 2024 Market Snapshot in which he thoroughly reviews local housing data to report on what's really happening in the Sarasota-Manatee luxury real estate market.

Highlights include:

  • Inventory is no longer undersupplied -- up approximately 60% year over year
  • Demand is solid -- nearly identical to 2019 and 2023 (but not growing with inventory growth)
  • Prices are flat for single family homes and price reductions are on the rise, especially older condos
  • Mortgage rates are bumping up slightly due to increased economic growth
  • The spread between asking price and offer price is growing
  • Buyers do not want to do updates or repairs when paying top dollar

Watch the Luxury Real Estate Market Snapshot Video:

View the Luxury Real Estate Market Snapshot Data:

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The Laughlin Tanner Group stands out as an exceptional team, leveraging their diverse backgrounds and ample expertise to offer a genuine perspective honed through years of success. They are readily available to provide valuable market insights making their wealth of knowledge accessible to you.

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