My team and I are constantly analyzing market trends to determine the best strategies for our clients. As April came to a close, we were relieved to see an uptick in luxury activity, particularly interest in new construction contracts. Mid-quarter, there was a pronounced lull in activity as buyers already acting without urgency because of inventory oversupply further retreated because of the economic volatility driven by the Iran conflict.
In keeping with Sarasota's historic seasonality, we anticipate that activity will wane again as we approach the summer months when our part-time population departs for cooler climates. The increased activity in April was a welcome and somewhat unexpected boost in market participation, signaling sustained interest in our residential real estate despite the slow pace we've seen over the last 18 months.
Our first quarter market report will be released in the coming weeks; please let us know if you would like a complimentary issue or a private consultation on selling or searching in the current market.
