Sarasota Real Estate Information: Buyer Demand Still Outpacing The Supply Of Homes For Sale

The price of any item is determined by the supply of that item, as well as market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.

Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).

Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”

The darker the blue, the stronger the demand for homes in that area. Only four states had a ‘stable’ demand level.

Seller Supply

The index also asked: “How would you rate seller traffic in your area?”

As you can see from the map below, 25 states reported ‘weak’ seller traffic, 21 states reported ‘stable’ seller traffic, 3 states and Washington D.C. reported ‘strong’ seller traffic, and only 1 state reported ‘very strong’ seller traffic. This means there are far fewer homes on the market than what is needed to satisfy the buyers who are out looking for their dream homes.

Bottom Line

Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet buyer demand, prices will continue to increase. If you are debating listing your home for sale, meet with a local real estate professional in your area who can help you capitalize on the demand in the market now!

Source: Keeping Current Matters

The Sarasota Native Group® is made up of full-time agents; this is not our retirement career nor is this a second job while also waiting tables. Collectively we have been full-time real estate agents going on 15 years. We were born and raised in Sarasota and we know the area and the market very well.

On average The Sarasota Native Group® has helped customers save 3% off the list price (or $3,000 for every $100,000) using our years of negotiating experience and knowledge of the local real estate market. (This does not include helping buyers save money by recommending trusted service providers in the area. Our contacts become your contacts.)

Are you not seeing your dream home on the market? Contact us to discuss the possibility of having our team target off-market homes that have high selling potential that match your specific criteria. We only provide this service to committed customers because of the time and effort we put into finding the home of their dreams.

The Sarasota Native Group® will negotiate to get you the best deal possible and we would be delighted to work with you and anyone you know who is currently looking to purchase a home.