Wow Are We Busy in Sarasota Area Real Estate! Showings are strong and people are pulling the trigger to buy. Pending Sales, which are properties under Contract which will Close in 30 to 45 days, are up between 50.9% to 64.9% from the previous month depending upon County. Inventory continues to remain low at 3.8 to 3.9 months. Mortgage Interest Rates dropped again and are excellent. One Mortgage Broker with whom we work, said normal monthly deals are around 700 per month. This month they are seeing 2,700 deals which they are working on. Remember No Personal Florida State Income Tax, Low Property Taxes, the Homestead Exemption, the Gulf of Mexico, Great Boating, Fishing, Golfing, National Award-Winning Beaches and Sunshine!
The Real Estate Market in Florida is nothing like 2008 when we had 36 months of Inventory for Condos and 24 months of Inventory for Single Family Homes. Also, Lenders were lending to everyone.
Florida Realtors are practicing Safe Social Contact as we are in a Phase 2 status. Strong Showings & Purchases are happening!
Please follow the State & Federal Guidelines and be Safe!
Now the three County News …….
In Sarasota County. The Closed Sales decreased -15.9% over the previous month. New Listings increased +33.1% and the Inventory Level decreased -9.2% to 3.8 months of Inventory. Year to Date Median Price decreased -2.8% from the previous year. Days on Market decreased to 61 Days. Sold Price to List Price increased to 94.1%.
Manatee County. The Closed Sales decreased -15.0% over the previous month. New Listings increased +42.8% and the Inventory Level decreased -8.7% with 3.5 months of Inventory. Year to Date Median Price increased +2.6% from the previous year. Days on Market increased to 65 Days. Sold Price to List Price decreased to 94.0%.
Charlotte County. The Closed Sales decreased -18.2% over the previous month. New Listings increased +1.4% and Inventory Level decreased -8.7% to 3.9 months of Inventory. Year to Date, Median Price increased +8.0% over the previous year. Days on Market increased to 69 Days. Sold Price to List Price decreased to 94.0%.
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 4.125% costs $499.00 per month.
$200,000 for 30 years at 4.125% costs $999.00 per month.
$300,000 for 30 years at 4.125% 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 2020-06-29 10:08:47