The Sarasota, Florida Real Estate Market is turning the corner and moving forward toward a normal market. Recent statistics show that the rate of absorption of homes listed has moved from 146 weeks to 100 weeks of supply. Also reported is that the sales pace is rising from 60 homes sold per week last winter to now 85 homes sold per week.
However, until the market returns to a normal seven to eight month inventory and 150 sales per week, the price of homes and condos will continue to fall. The values of homes and condos will decline 12% to 18% during this adjustment period. Some properties in certain desired areas will not decline as much as other areas.
Buyers, now is the window of opportunity to buy the better homes and condos to get a great value.
Tags: Real Estate News, Sarasota Florida Real Estate, Sarasota Florida Real Estate Statistics
