Sarasota Real Estate Market Hot Under $300,000 in July 2019! Even though we are experiencing a normal seasonal, slower market in July, segments of the market are very busy, especially properties in the $200,000 to $300,000 range. We have been involved with multiple offers in that price range.
Overall the Inventory Level in all 3 Counties dropped to 3.0 to 3.4 Months of Inventory. Remember a balanced Market is 6 months of Inventory. Interest Rates on Mortgages have dropped making financing more attractive. However, Buyers are still very sensitive on Purchase Price and will not accept over priced properties.
Now the three County News …….
In Sarasota County. The Closed Sales decreased -8.6% over the previous month. New Listings increased +1.1% and the Inventory Level decreased -8.0% to 3.4 months of Inventory. Year to Date Median Price increased +1.9% from the previous year. Days on Market dropped to 78 Days. Sold Price to List Price increased to 93.3%.
Manatee County. The Closed Sales decreased -5.6% over the previous month. New Listings decreased -1.2% and the Inventory Level decreased -64% to 3.0 months of Inventory. Year to Date Median Price decreased -0.3% from the previous year. Days on Market decreased to 75 Days. Sold Price to List Price stayed the same at 94.2%.
Charlotte County. The Closed Sales decreased -8.4% over the previous month. New Listings increased +6.70% and Inventory Level decreased -7.0% to 3.3 months of Inventory. Year to Date, Median Price increased +7.7% over the previous year. Days on Market decreased to 73 Days. Sold Price to List Price stayed the same at 93.5%.
Look at the graphics with the Real Estate Activity by County in Manatee, Sarasota & Charlotte Counties. Still very attractive Single-Family Home & Condominium Pricing and Great Interest Rates!
Interest Rates for a 30-year mortgage with 20% down (Single Family Home):
$100,000 for 30 years at 4.375% costs $499.00 per month.
$200,000 for 30 years at 4.375% costs $999.00 per month.
$300,000 for 30 years at 4.250% costs $1,475.00 per month.
Different types of Loan Products are available including:
• FHA 100%
• Bank Statement Program for Self Employed
• FHA 96.5% – Down to 580 Credit Score
• USDA 100% Loans – 620 Credit Score
• VA – 100% Financing
• FHA Streamline Refinance
• W-2 Only Program
• Condo Financing
• International Buyer Financing
Each person qualifies for a loan differently and your interest rate could be different. APR is not quoted, but available. Different programs are available with low down payments. Call me to see what your rate is.
Still Low Housing Prices & Great Interest Rates! What are you waiting for?
We can help you with an REO/Bank Owned, Short Sale, Normal Sale or New Home Sale. Don’t miss your opportunity!
Call Kym at (941) 400-9420 or Helen at (941) 400-9489 to help you find Your Florida Lifestyle!
Published on 2019-08-27 11:57:25