The sinking feeling

There have several pundits, economists and real estate gurus saying we're hitting bottom in the Sarasota/Manatee County area.

I have heard this several times over the past year and I still don't believe it.

Here's why, generally speaking anything under a six month supply of homes for sale is a seller's market, six to nine months a neutral market, more than that a buyer's market.

Well from Longboat Key to Anna Maria Island to the border with Hillsborough County we have more than a year and some areas several years worth of houses and condominiums for sale.

When you have that much inventory on the market prices are bound to continue to fall.

What this means is that there are a number of great deals out there and probably will be for the next couple of months.

Now by the third quarter of this year I'm thinking we might be flattenning out.

All the best
Greg Owens PA
Keller Williams Realty of Greater Manatee
941.932.6343
greg@teamworksfla.com