Home prices are up 5.4 percent over last month in the Sarasota/Manatee county area. Sure sales were down 9.5 but the prices are going up. Inventory is down.
And just in case that wasn't good enough news. Those mulit-million dollar new builds are back. Take Bird Key for instance where the local media is reporting 14 new homes under construction.
Oh, and they also reporting high end retail construction is back on track.
Here is how I see it what goes up must come down.
The downturn started at the lower end of the market, went up the higher end and then is heading back down again. The high net worth are investing in high real estate again in our area.
There is no better indication of where our market is going.
All the best
Greg Owens P.A.
Realtor
Keller Williams On the Water
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