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Market Update 6/23/21

No surprise here, it continues to be a hot seller’s market! The continued driver being lack of supply (active inventory/listings). A few quick stats from our local Sarasota/Manatee market:

  • Active listings hovering around 1,200, leaving supply roughly 1/3 of our running 5-year average (3,806)
  • With this we have seen sales volume slow slightly this past month ( ⇓15%), however up 100% since last year (during peak of COVID-19 pandemic)
  • The median sale price is $359,000 ,  ⇑ 26% from last year and ⇑ 110% over the past decade

We may have some supply chain relief on the way, as July-delivery lumber prices have dropped 41% since May. Lumber and other supplies have been a major issue in new builds, with many new communities in the area currently on buyer wait-lists and not uncommon to see new build prices increasing $20,000+ in ONE month.

We are definitely embarking on interesting times, don’t hesitate to reach out if you have any questions on navigating our current market!

May 2021 Data

10 year Median Price Trend

 

Thanks,

Jim, Ryan & Chrisi

(941) 713-9234

Posted in: Market Update

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RE/MAX Alliance Group
2000 Webber St Sarasota, FL 34239

(941) 713-9234
Ryan@Adamson-Group.com
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