The current real estate market is showing some positive trends for buyers in 2024. After a period of high home price growth and soaring mortgage rates, the market is stabilizing, offering better borrowing costs and increased home supply. There is an expected 5% increase in home sales this year, with an estimated 4.3 million transactions.
For those looking to buy, homes are selling relatively quickly, often within 29 days. It's essential to stay on top of new listings and consider signing up for real-time notifications from platforms like Realtor.com, Redfin, and Zillow.
In specific markets like Sarasota and Manatee Counties, there has been a slight decrease in median and average sale prices compared to last year, indicating more favorable conditions for buyers. For example, in Manatee County, the median sale price for single-family homes decreased by 7% from last year, while the average sale price is also slightly down.
Overall, buyers can expect a more balanced market with opportunities to negotiate better deals and find homes that meet their criteria without the fierce competition seen in previous years.
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Staff Software Engineer at OLX Brasil
2moCircuit is very lucky to have this angel on their team 🎉