Real Estate Market Update for South Sarasota
April 2023
West Central Florida’s real estate market continues to be pulled by counterbalancing forces. Inventory is low and people continue to migrate to Florida in record numbers. Interest rates are fluctuating between 5 ½ and 7% which is about average for a 50 year period but they still feel high after record low rates below 3%. Prices seem high but have remained strong because of low inventory and continued population growth. Let’s look at these factors individually
There are three times as many homes for sale in March 2023 as there were last March. Many current homeowners are hanging onto their current home with the sub 4% mortgage which has tempered the increase in inventory. It
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