We are often asked about the state of the real estate market. How is it doing? Is it a buyer or seller's market? Are prices going up? Is there too much new construction? Thanks to Drayton Saunders, President of Michael Saunders & Company, we've been bringing you regular video updates each quarter. Our latest update is breaking down the market for the fourth quarter of 2017. And read on below for key takeaways by county and our Q4 luxury sales spotlight. For a comprehensive review of the 4th quarter market, click for PDF.
A Look at the Numbers
Overall in Sarasota, Manatee, and Charlotte Counties
Real estate in our tri-county area saw another strong year. Michael Saunders & Company closed out 2017 reaching over $2.75 billion in residential sales. While total sales were relatively the same as 2016, the median price was up, and in certain parts of the market, there was great strength – one of which was in luxury sales. Overall, it is still a balanced market – neither favoring just sellers or just buyers – with certain exceptions, of course, as there always are within local markets. Your Michael Saunders & Company sales agent can provide you with a more detailed look at your own neighborhood.Luxury Sales
In the luxury market – the story there was pending sales. November and December were very significant. Absorption of aging inventory, and new inventory, was very positive – but it all boiled down to pricing. The median price is down in the upper end – and overall sellers had price homes right right to sell. Our luxury agents did an outstanding job of price reductions in order to meet the sales goals of our sellers, but also meet the expectations of buyers.Read our Luxury Sales Spotlight for Q4 2017 here.
We look forward to sharing our next update with you on Manatee, Charlotte, and Sarasota real estate after the first quarter of 2018! 
