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Mike's Real Estate Market Update: What's the Market Like in Longboat Key?

Michael Renick

The Key to our success is You!  We understand that.  The strongest aspect of communications is listening...

The Key to our success is You!  We understand that.  The strongest aspect of communications is listening...

May 3 4 minutes read

What is the Market Like in Longboat Key this Month?


Watch Mike's Real Estate Market Report to find out the answer to this question and learn how to use this information to formulate your competitive advantage!


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SFH:  March 2019 is a Buyer's market

Home For Sale in March 2019: 122 units.

Up 6.1% compared to last month

Up 40.2% compared to last year


Home Closed in March 2019: 14 units.

Up 366.7% compared to last month

Up 7.7% compared to last year


Home Placed under Contract in March 2019: 17 units.

Up 6.3% compared to last month

Up 13.3% compared to last year

Condo:  March 2019 is a Buyer's market

Home For Sale in March 2019: 292 units.

Down 1% compared to last month

Up 19.2% compared to last year


Home Closed in March 2019: 39 units.

Up 44.4% compared to last month

Down 26.4% compared to last year


Home Placed under Contract in March 2019: 44 units.

Up 18.9% compared to last month

Down 22.8% compared to last year

SFH:  March 2019 Average Sold Price per Square Footage is Neutral

Average Sold Price per Square Footage in March 2019: $461

Down 18.3% compared to last month

Down 13% compared to last year

Condo:  March 2019 Average Sold Price per Square Footage is Neutral

Average Sold Price per Square Footage in March 2019: $452

Up 2.5% compared to last month

Up 1.3% compared to last year

SFH:  March 2019 Average Days on Market trend Remains Steady

Average Days on Market in March 2019: 160

Up 48.1% compared to last month

Up 39.1% compared to last year


March 2019 Sold/Original List Price Ratio Remains Steady*

Sold/Original List Price % in March 2019: 90%

Down 1.1% compared to last month

Up 2.3% compared to last year

Condo:  March 2019 Average Days on Market trend is Falling

Average Days on Market in March 2019: 86

Down 32.3% compared to last month

Down 25.2% compared to last year


March 2019 Sold/Original List Price Ratio is Rising*

Sold/Original List Price % in March 2019: 94%

Up 4.4% compared to last month

Up 4.4% compared to last year

SFH:  March 2019 is a Buyer's market

Months of Inventory based on Closed Sales in March 2019: 8.7

Down 77.2% compared to last month

Up 29.9% compared to last year

Condo:  March 2019 is a Buyer's market

Months of Inventory based on Closed Sales in March 2019: 7.5

Down 31.1% compared to last month

Up 62.7% compared to last year

Please let me know what area you would like me to personally perform a market analysis on for you?

[email protected]

941-400-8735

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To best understand the market, we need to look at the four factors (sales performance, price direction, how much competition, length of time on the market).  When we combine all of these factors for your specific area, you will be fully equipped to negotiate the best deal for you!  Isn't that what it is all about?

All reports are published April 2019, based on data available at the end of March 2019, except for the today stats. All reports presented are based on data supplied by the Mid-Florida MLS. The Mid-Florida MLS does not guarantee or is not in anyway responsible for its accuracy. Data maintained by the Mid-Florida MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Mike Provides even more Crucial Information for his Buyers and Sellers:


 


 

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