Trends throughout Sarasota for the second quarter point to a return to our historic seasonality - a feature of the Sarasota real estate market that was typical prior to the frenzy of pandemic sales activity. For the first quarter in the last two years, the number of listings rose relative to the prior year while the number of closed transactions fell. Together, these measures suggest that the supply-demand imbalance is lessening in intensity. Don't be fooled, though. This is still a seller's market because of several factors, including the enduring popularity of our market and affordability relative to cities with similar coastal and cosmopolitan appeal. The significant number of new construction projects adding luxury inventory to our market will strengthen the momentum of luxury home sales.
Take a look at our trend snapshot for Sarasota's key communities here and let us know if you would like to receive more market insight or be added to our market report mailing list. Click here to get in touch.