Are you imagining sunsets that glisten off azure water, relaxing weekends spent on your boat, Gulf of Mexico temperatures like bath water ? Well, if you are like most buyers today, chances are you’ve been dreaming about leaving your land-locked property for the perfect waterfront real estate.
Statistics show us that home sales in Sarasota, Manatee, and Charlotte counties are trending in record-high territory while pending sales for March were the highest it’s ever been. But what is it that you can’t see among detailed percentages, pie charts, and dizzying statistics? The answer behind what is motivating these trends.
Our agents were asked to share insights about the buyers and sellers in today’s real estate market. Below are 4 factors impacting the current climate:
- Buyers are acting now for lifestyle choices
- Families are finally making the move they’ve been dreaming of – away from hard winters in the north to luxurious waterfront homes surrounded by blue skies and beckoning waters.
- Retiring baby boomers, empty nesters, and sustainable living choices are leading buyers to sophisticated condominiums and smaller, more manageable homes in vibrant neighborhoods and locations.
- People are taking advantage of the buyers/sellers’ market
- High demand in the marketplace is motivating those who have been waiting for “the right time” to buy or sell their home. There is much less of a “wait and see” attitude.
- Sellers are no longer feeling the sting of necessity
- Homeowners are selling now not because they need to but because they want to.
- Savvy investors are being enticed by low prices
- Those looking for an asset are purchasing now when prices are still low – our market’s median price is still 43% below what it was at the peak of the housing bubble seven years ago. (Source: Sarasota Herald-Tribune)
While statistics give us solid mathematical indications of market trends, being the emotional creatures we are means we are often guided by the heart, not the head.