Year-to-date, Sarasota’s residential real estate trends illustrate a recalibration, with the market significantly favoring buyers. Days on market have lengthened notably relative to the same period last year, reflecting not only our transition from high season to the warmer months when our seasonal population departs, but also hesitation from would-be buyers as the conflict in Iran created economic volatility. Another factor affecting pace is the high level of inventory we have in both existing and new construction opportunities, presenting buyers with plenty of choice and little urgency.
For sellers, the key consideration apart from strategic pricing and presentation is the length of time a property has been held. Particularly for sellers with holding periods of five years or longer, there may be considerable appreciation to offset the price reductions that are now commonplace in the market.
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