When Will the Bradenton - Sarasota Market Hit Bottom?

When real estate hits the bottom will you know it?

Mixed numbers and contrary reports cause us to wonder just when we’ll hit the bottom in the Bradenton – Sarasota market. Inventory decreased for the month of June and that’s a good sign. However, sale numbers and prices continue to fall. That’s a bad sign. Bottoms can only be seen in the rear view mirror, so keep looking.

What signs will confirm the bottom of the market?. Mixed numbers like the ones we see may suggest the bottom is yet to arrive. The signs that follow the market bottom are: (1) Reducing inventory, (2) Increasing sales, (3) Increasing prices, (4) Fewer days on market.

It’s the showing activity...oh, wise one
We have sold over 1,000 homes/condos over the years and here’s what we know: If you get no showings, it means that even agents aren’t excited about your price. If you get few showings and no repeat showings, buyers aren’t excited. When you get multiple showings and buyers coming back for a 2nd look, you should sell soon, but if buyers seem to cool off, it’s the market moving away from you. Make a price change quickly. You should have an offer in 10-12 showings. If not, evalute the condition of your home and the price.