There is no denying the challenging conditions that we've detailed in Sarasota's market this year and how pronounced the challenges have been in the greater real estate market as well.
Data recently published by realtor.com cites record-high delistings nationwide as frustrated sellers facing long days on market have withdrawn their properties. Despite the universal surge in delistings, inventory has risen for the last 21 months, illustrating the path to the oversupplied market we're now in. While affordability metrics are less central to our market and to luxury listings, economic factors have continued to sideline buyers who are acting without any urgency. Patience and presentation are vital considerations for potential sellers, particularly as affluent home seekers with discerning taste and open timelines have abundant inventory to choose from.
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Tampa, Orlando, and Miami have led the nation in summertime delistings as median days on market have increased.
