There’s an all-too familiar conversation happening repeatedly over the past year or so in the Sarasota area and beyond: People looking to sell their homes, and wanting a price that is out of line with today’s real estate market. Sellers are nostalgic for the previous real estate market.
Make no mistake, the post-Covid market was an anomaly. Low interest rates, Florida’s relatively mild pandemic restrictions and the rise of remote work alloweing more people to suddenly work from home.
As a Realtor then, it was a busy time. Personally I was able to accrue $43 million in sales in ’21 and ’22. But that’s now old news. “Glory days,” as Bruce Springsteen once sang.
Now people who have decided to sell their homes are getting a rude awakening when they ask for an amount similar to what their neighbor received a few years ago: They’re learning the buyers aren’t willing to pay it.
It’s a “buyers’ market” now—and there’s plenty of homes available. Sellers need to forget about that Covid price spike and think back to 2019…