We're halfway through the year and I thought I'd take a look at how the first six months of 2015 stacked up against 2014. I'll be doing this for many popular Venice FL neighborhoods in the coming days and weeks, but today's blog post starts with South Venice.
The biggest takeaways from this analysis are that the median sales price increased 22% over the first six months of 2014, and sellers found themselves in control in price negotiations, with only a 2% difference between the list price and the sales price of the property. Demand was high in 2015, with days on market 37% shorter than in 2014.
This also brings up another issue I hear from potential buyers who want to rent before they buy. If you decided to rent first in South Venice, you likely spent about $14,000 on an annual rental. While you waited a year to buy, the same house was $23,500 more. That's $37,500 in lost equity.
Waiting to get in the real estate market costs a lot of money. Contact me today to get started on your Venice FL real estate purchase.