The State of the Housing Market in Sarasota

Sarasota has witnessed remarkable changes in the state of the housing market in recent years. This blog post provides a concise overview of the current state of Sarasota’s housing market, highlighting key trends and opportunities for buyers, sellers, and those considering selling their house to a cash home buyer.

As expected, single-family homes in great locations which are priced well move quickly. There’s a lot of demand in the market for certain areas, but even in good locations and neighborhoods, pricing and the condition of the home dictate how quickly (or even if) it sells.

Buyers are regaining control – with more inventory coming on the market after several low inventory years, buyers are gaining the upper hand in negotiations again. They are looking for good neighborhoods, access to transportation, shopping, good schools, close to work, etc. And of course they want the house in pristine condition and updated! Properties that deliver all these are definitely a hot commodity.

But for condos and townhouses – especially those a little off the beaten path, or with some funky features – it can be quite a different story. Prices were down in certain areas of Sarasota, but seem to be rebounding as the rental market increases and with the continued influx of new residents attracted by the wonderful weather and quality of life.

Investment properties are in demand. The massive amounts of foreign cash flooding in to invest in US real estate have impacted the state of the housing market in Sarasota in unique ways.

Overall, those people in a position to pay cash for properties have been picking up the good deals in the marketplace.

Lots of sellers are trying out speculative prices just to see if anyone bites, but most investors are walking away from deals that don’t pencil out.

Financing is still a challenge for many buyers. Banks are being incredibly strict, requiring significant money down and even changing their terms at the last minute. It’s still not uncommon for approved buyers to get their loans pulled right before closing escrow.

Overall the markets remain incredibly polarized – there is a lot of action at the very top and the very bottom, with the biggest challenges in the middle.

The cash home buyer option. With the current state of the housing market in Sarasota, homeowners considering selling their house should also explore the option of selling to a cash home buyer. This alternative allows for a faster and more streamlined selling process, bypassing the traditional listing, marketing, and negotiation steps. Cash home buyers provide a convenient solution for those looking or needing to sell quickly or dealing with unique circumstances, such as inherited properties, financial difficulties, or properties in need of extensive repairs.

There’s a lot of shakeup in the US economy still taking place, and the markets are moving fast and the state of the housing market in Sarasota is as well.

At Home Buyers Plus, we’re a local real estate investment company and cash home buyer, and we’re investing in Sarasota because we believe in the community and the people here.

If you want or need to sell a property in or around Sarasota, we can help you.

We buy properties like yours from people who need to sell fast.