It's a Seller's Market in Lakewood Ranch & Sarasota

Written by Posted On Tuesday, 07 July 2015 09:47

Home sales in the Sarasota and Lakewood Ranch area continue to rise while area supply is dwindling to some of the lowest levels since 2006. The limited availability of resale homes  has created the perfect seller's market whereby homes are selling faster and sellers are reaping close to or more than their listing price. Those buyers who haven't made the decision to get off the fence now find themselves faced with higher prices, less choice and rising mortgage rates. Available inventory in Sarasota stands at 3.8 months while in Lakewood Ranch that number drops to 3.8 months. A six month's supply is considered a balanced market. The highest level of activity is found in single family homes under $200,000. A home at that price that is clean and move in ready will face very tough competition at the negotiation table. Homes under $300,000 with three bedrooms and a pool are the next most highly prized homes. Sellers with clean, well kept homes can expect to sell quickly with possible multiple offers. Needless to say, now is a great time to sell in Lakewood Ranch. 

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