Sarasota real estate market stabilizing

There was an interesting article in the Sarasota Herald Tribune today about whether the Sarasota real estate market has hit bottom or not. Take a look a the chart below. This was in the newspaper recently. It shows the fluctuation in the median home price of homes in Sarasota and Bradenton. Notice how it is trading in that band? It has been trading in that band for the last 10 months. It appears that the market is stabilizing.

Depending on the price range you look at inventory levels are 12%-15% of the highs. In the luxury segment of the market inventories are 15% off the highs. There is no way to know today if we are at the bottom. We will only know after it is in our rear view mirror.

Strategies for buying a Sarasota home

• Make a list of needs and wants in the home or condo you want to purchase.
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• Start looking at property online now and learn the market. This website contains everything for sale on the Sarasota MLS and is update daily.
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• Get a list of neighborhoods or locations that you like best.
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• Figure how much you can and want to spend and get preapproved for financing if you plan to purchase with a mortgage.
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• When you are ready to purchase call us at 941-812-6272 or contact us to sit down and discuss your needs.
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• Go buy a home or condo