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Sarasota - Bradenton - Venice area Manatee and Sarasota Counties
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Old 02-06-2021, 08:46 AM
 
35 posts, read 41,354 times
Reputation: 27

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Quote:
Originally Posted by Hbcapital View Post
Current Home inventory in Sarasota county is 1250 homes or a 1.6 month supply according to the Sarasota realtors site. Back in 2005-06 at the peak of the market, there were 10,000 single family homes on the market and a 30-35 month supply. The glut of homes back then plus the recession caused the large drop in housing prices. With current inventory at historic lows, the housing boom will continue until inventory picks up substantially.
I did end up purchasing in LR over the last couple of days but I still keep my eye on the market including resale. Anything that is priced in the ballpark of normal goes pending almost immediately. At least 2 of the builders in LR have "suspended" sales and another salesperson I know is being asked to "limit" sales to 2 per month. (How does one make a living as a salesperson when they're asked to limit their sales?)

I'm of the opinion that the demand is still so great that prices will continue to rise - BTW, we barely escaped a $30K price increase from our builder because we were "already on the board".

Even those with 30+ years experience living and selling in this market are unsure of the length of this boom?
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Old 02-06-2021, 11:24 AM
 
19 posts, read 8,743 times
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We are in Grand Palm in Venice where it is just as crazy. Base prices on new homes up 10% in the last six months. Backlog to build a home is 9-11 months. Pool builders can’t keep up with the demand either. But the buyers keep coming.
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Old 02-06-2021, 12:43 PM
 
16 posts, read 15,688 times
Reputation: 25
We were going to move to Sarasota at my retirement this summer but we are standing down for now. Wife and I grew up in Sarasota and moved away in the 80's. Too crazy a market right and it's not like I need to get there on a schedule (like a job). We live in Dallas so I'm not just abandoning a good thing here.

Will see if Covid going away will change the outlook? I think Covid has done a lot to create the high demand for Sarasota (Florida) and the lack of supply. Not all of it but I think Covid has been a factor.
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Old 02-06-2021, 03:05 PM
 
Location: Venice, FL
11,806 posts, read 3,565,068 times
Reputation: 7534
Quote:
Originally Posted by Cheesebiz View Post
We were going to move to Sarasota at my retirement this summer but we are standing down for now. Wife and I grew up in Sarasota and moved away in the 80's. Too crazy a market right and it's not like I need to get there on a schedule (like a job). We live in Dallas so I'm not just abandoning a good thing here.

Will see if Covid going away will change the outlook? I think Covid has done a lot to create the high demand for Sarasota (Florida) and the lack of supply. Not all of it but I think Covid has been a factor.
Its not all covid related.

Low interest rates are also a driver of home sales, even though but many retirees pay cash for their homes down here. I don't see this boom ending anytime soon. The cost of living, and taxes up North has people flocking to Florida where the taxes are so much less. America's work from home boom is also a factor. Investors are still active in buying up homes for future rental income streams...even hugh corporations are getting into that game...company's who own Thousands of rental homes.

Nice Winter weather, and beaches used to be the big draws, but now there are several other factors driving the buying frenzy too. It's the perfect storm for builders, and realtors.
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Old 02-06-2021, 05:40 PM
 
Location: Venice, FL
11,806 posts, read 3,565,068 times
Reputation: 7534
Quote:
Originally Posted by beach43ofus View Post
Its not all covid related.

Low interest rates are also a driver of home sales, even though but many retirees pay cash for their homes down here. I don't see this boom ending anytime soon. The cost of living, and taxes up North has people flocking to Florida where the taxes are so much less. America's work from home boom is also a factor. Investors are still active in buying up homes for future rental income streams...even hugh corporations are getting into that game...company's who own Thousands of rental homes.

Nice Winter weather, and beaches used to be the big draws, but now there are several other factors driving the buying frenzy too. It's the perfect storm for builders, and realtors.
Here's a recent article that backs up my post above:

https://www.newsbreak.com/florida/ta...rom-new-states
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Old 02-08-2021, 03:01 PM
 
Location: Sarasota, FL
87 posts, read 79,933 times
Reputation: 89
I just heard from 3 different realtors that new home sales have stopped due to construction. They sold them so fast the construction crews is far behind. They want to let the construction crew catch up before proceeding to sell new homes. I know one person who signed a contract in October and their lot has not been leveled of staked out. Meanwhile other homes around have been started and almost finished. They were told its a permit problem. According to another source builders are having an auction type of sale on certain lots. Most lots on waterfront are premium, so builders are trying to sell them for even more.
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Old 02-23-2021, 09:05 AM
 
35 posts, read 41,354 times
Reputation: 27
We just heard from our builder (Stock) that our timeline has moved from 18 months down to 13-15 months. They mentioned that other builders suspending sales has helped them move faster in the building process. Not sure of the logic behind that but just passing along what we heard.
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Old 02-23-2021, 11:01 AM
 
19 posts, read 8,743 times
Reputation: 31
Quote:
Originally Posted by pjbrien View Post
We just heard from our builder (Stock) that our timeline has moved from 18 months down to 13-15 months. They mentioned that other builders suspending sales has helped them move faster in the building process. Not sure of the logic behind that but just passing along what we heard.
Neal (builder) has a timeline of 9-11 months for new homes here at Grand Palm in Venice
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Old Today, 11:26 AM
 
1 posts
Reputation: 10
I live in Lakewood Ranch-I have a home 3020 sf updated with new tile roof. Still available as of now. It is in the River Club subdivision-no CDD fees. There are only 2 homes here for sale....
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