It's that time of year to look back at 2018, see how we did, and what I think will happen in our local real estate market in 2019.
The number of single family properties sold in 2018 in Sarasota County is flat versus 2017, but median sales prices are rising. An increase in new listings and months supply of inventory in 2018 is usually good news for home buyers, who will have more options and possibly better opportunities to negotiate with sellers.
There were a couple of trouble spots in 2018. Sales in the city of Venice fell 12% versus 2017. Sales in North Port, technically home of The West Villages and new construction homes, fell 3%.
If you're thinking of buying a home in these areas this year, now is the time. Builders are offering incentives, and almost every home I've been showing has been reduced from the list price.