Sarasota Real Estate update for July 2022

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Real Estate

 

Debbie McHardy Sarasota real estate

Hello Friends,

If you’re looking to sell your home but worry that the market may not be as favorable for doing so right now, the truth is that the housing market still favors sellers. The main difference is that there may not be a lengthy bidding war when you list your home on the market. Higher mortgage rates might make unprepared home buyers pause on their purchasing plans. If that lowers buyer demand enough in certain Florida markets, it could result in slower price growth. If you want to make sure that your home is sold without delay, perform any necessary upgrades and repairs before placing it on the market - updated properties are by far the most desired. 

While it’s unlikely that the housing market will shift completely to favoring buyers, it’s looking increasingly likely that it will be more balanced over the next year, and honestly, a balanced and healthy market is great for buyers and sellers, alike. 

These aren’t ordinary times, but my business has grown successfully and consistently thanks to the repeat business of satisfied clients and their introductions to friends, family, and neighbors. If you or someone you know is ready to buy or sell, please contact me, and thank you for your referrals. I would be happy to schedule a no-pressure conversation or sit down meeting with you to discuss all your needs!  

Debbie McHardy

BOARD MEMBER

FOR SALE

7409 CHESTER TRAIL

LAKEWOOD RANCH, FL 34202

2BR+DEN/2BA | 1832 SF | LAKE VIEWS | $715,000

 

Del Webb epitomizes the Florida lifestyle in this active 55+ gated community of Lakewood Ranch. Two bedroom, 2 bathroom home also boasts a den and has a split bedroom floor plan with many upgraded features. Sit out in the covered patio lanai and watch the sunrise over the lake.  The 2nd bedroom at the front of the home is great for guests, and the den can also be used as a 3rd bedroom.  A 4' extension to the garage includes space for a golf cart, or just adds extra storage space. The lush landscaping and paver driveway enhance the exterior features. Del Webb offers the most fantastic resort style amenities which include a heated pool and spa, lap pool, tennis courts, pickle ball, bocce ball, fitness center, and a stunning clubhouse offering a host of activities. Contact me for a private tour - (941) 960-6099.

 

RECENT SALES

SOLD BY DEBBIE

12521 Ryegrass Loop | Parrish, FL 34219

4BR/2BA | 2,316 SF

REPRESENTED BUYER -  $616,000

 SOLD BY DEBBIE

6251 Aventura Drive | Sarasota, FL 34241

4BR/3BA | 2,805 SF

REPRESENTED BUYER -  $810,000

The Sarasota County market was busy, with a median 31 days on market. A month earlier, homes had a median 29 days on market. The market added 1,468 new home listings in May, compared with the 1,288 added in May 2021. The market ended the month with some 1,222 listings of homes for sale. A typical Sarasota County home listed for $599,450 in May, up 0.8% from a month earlier. The median list home price in May was up about 33.2% from May 2021. Sarasota County’s median home was 1,768 square feet for a listed price of $333 per square foot. Manatee County’s home prices rose 0.1%, to a median $599,500, from a month earlier. The typical house was on the market for 29 days, the same as a month earlier. The typical 1,933-square-foot house had a list price of $309 per square foot. The impact of rising interest rates appears to be having an effect on closed sales, with the Realtor’s Association of Sarasota and Manatee noting the first increase in the number of homes for sale in April since 2019.

NEWS BRIEFS

Sarasota 7th in Nation for New Construction

North Port-Sarasota-Bradenton metropolitan statistical area continues to attract new residents seeking a more suitable lifestyle, ranking seventh among all mid-size MSAs for new home construction.  Although the real estate market in general has shown recent signs of cooling amid inflation and the rise in mortgage rates coinciding with Federal Reserve interest rate hikes, people from New York and California are flocking to specific areas of the country, leaving demand high and supply short. With 36.2 new housing units per 1,000 existing homes authorized here, local builders are is responding to the need at a rate nearly triple the 12.5 new units authorized per 1,000 existing homes nationally.

New Bay to Beach Bike/Walking Path

Twelve years after it first appeared on Sarasota County’s capital improvement project radar, a multi-use recreational trail at Ted Sperling Nature Park is expected to begin development this year. The $1.96 million project will provide multimodal connectivity between the park and South Lido Beach, completing connectivity for pedestrians and bicyclists to South Lido from downtown Sarasota via the Ringling Bridge.  At 10 feet in width, the 4,500-foot-long MURT will consist of boardwalks and asphalt pavement to accommodate cyclists, skaters, walkers and runners. The distance of the multi-use trail from Bayfront Park to South Lido Beach Park is approximately 4 miles, on average about 21 minutes by bike.

Trolly, Scooter Program Wins Award

The City of Sarasota’s Bay Runner Trolley and Micro-mobility program, featuring experiential rides while reducing traffic congestion, have been recognized by the International Parking & Mobility Institute (IPMI) with an Award of Excellence for innovation.  The Bay Runner launched in early March with the slogan “Live more, drive less” and the e-scooter/bicycle rental sharing program rolled out just two weeks later with much anticipation. Both initiatives were welcomed enthusiastically, with riders opting to leave their cars behind and enjoy a fun experience while traveling to the beach, shopping, dining or work.

Friday Fest Returns

After being cancelled for two summers, the Van Wezel's Friday Fest has returned this summer! Enjoy four entertaining and FREE events from June to September, showcasing the best of local bands from Sarasota and Bradenton. The first Friday Fest will be July 15th, on the lawn of the Van Wezel. Bring blankets or lawn chairs, take in the music and the sunset. 5:00 p.m. to 9:00 p.m.