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As Mortgage Rates Fall New Listings Trend Up In Sarasota Florida

You’ve probably heard mortgage rates have been dropping over the past month or so, influencing the Sarasota housing market in ways that hint at a potential shift away from the feared Sarasota real estate bubble. And, if you’re trying to buy a home, that’s a really good thing for affordability. But there’s another benefit you may not have thought of. As rates come down, more sellers are going to list their houses, potentially easing concerns of a Sarasota housing market crash. And we’re already seeing that happen. This graph shows new listings – basically, homes that just came onto the market. And if you look at the last bar in green, new listings went up in December. That may not sound like a big deal, but we haven’t seen an increase this time of year since twenty-twenty. Here’s my take on why this December was different. Some sellers put their plans on hold because they didn’t want to take on a higher mortgage for their next house. But with mortgage rates trending down, they felt more ready to make their move. It’s a mindset shift. Here in Sarasota, we are seeing an amount of homes on the market that we haven’t seen since last year within the 250 range. Which is an increase from the summer months, which hit a low of 175 homes on the market. The good news is here in Sarasota we are just getting into high season for real estate, buoyed by some of the best mortgage lenders in Florida and reliable Florida mortgage companies offering competitive rates. And that’s going to continue as rates ease. Now, inventory is still going to be low, but you may see more fresh options for your search as rates come down this year, aligning with the Sarasota housing market forecast for 2024. This shift not only impacts potential buyers but also highlights the Sarasota lifestyle and attractions, making it an increasingly desirable place to live. With a market poised for change, understanding these dynamics is crucial for anyone looking to dive into the Sarasota real estate scene, whether you’re watching the market for signs for selling buying or both.

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