Why summer 2020 may be one of the hottest times to sell in Sarasota

 

Why summer 2020 may be one of the hottest times to sell in Sarasota

Posted by adminluy in Arts and Culture 26 Jun 2020

Before I jump right in, I’d like to say my first thought is with you and your family. I hope you are all well and safe. This has been a difficult time for many reasons and I look forward to joining you as we come out the other end of this journey together.

As March 2020 arrived, I know many of you put any thoughts of real estate on the back burner. And for good reason! But as we come out of quarantine and people begin to take stock of their lives and their situations at home, there has been an incredible amount of interest in purchasing a home in the Sarasota area. I’ve been working as a Realtor here for over 30 years and the uptick in buyers has been almost shocking to me.

Here is a video where I go into more detail:

With only about four months’ inventory on the market, buyers aren’t finding as many options as they’d like whether they are searching in downtown Sarasota, Palmer Ranch, Longboat Key, Bird Key, Siesta Key or  Lakewood Ranch, or any of our other areas. To demonstrate the increased uptick in those searching for a home, we can look at two factors – pending sales and showing requests.

Pending sales and showing requests

Pending sales (home purchases which are yet to be closed on) are a great indication of up-to-the-moment buyer activity. Across the board, pending sales are up – 70% since April 2020 and even 8% higher than this time last year. 

Michael Saunders & Company very carefully tracks the inquiries we get for showings – when people request to see a home for sale. Since April, showings are up over 300% and they are currently in line with what we experienced this time last year. 

It is very telling that even during today’s health crisis, people are not waiting to act. I’ve seen the attitude shift of many buyers as we all move to seize the day! 

Ultimately, your journey has to be your own but if you are thinking about selling, then feel free to give me a call at 941-376-6121. I’m happy to talk to you about your situation and we can go from there.

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