What's going on in Sarasota's real estate market?

Historically, Sarasota has had a very seasonal market. In the years before the pandemic, our market activity tended to drop right after Easter as the temperatures rise during the summer time, with the pace picking pack up in the fall months and going strongest through winter time when there's peak interest in escaping colder climates for our tropical comfort. The pandemic changed all of that, with so much interest from residents relocating throughout the year. This year, though, we're seeing a shift from pandemic trends and some return to the patterns we've seen before.

Seasonality isn't as big a factor as it used to be though. There is still SO much interest in Sarasota that our sales have not tapered as much as we'd anticipated and instead, we are expecting the summer to remain busy. Some of the trends that have shifted notably though are related to price. About 42 percent of listings have seen price reductions. This seems to be an indicator that the original listing prices were too ambitious for what the market is sustaining now. The key takeaway for sellers is that pricing strategically and competitively is essential in order to garner the highest initial interest in your property and, ultimately, the most favorable offers.

Buyers need to be cautious too about not undercutting a property's value because there is still a high risk of losing out to another buyer in our competitive market.

If you have any questions about current stats or strategies for Sarasota neighborhoods, just let me know.

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