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20240920 Suncoast week to date update
Dated: September 20 2024
Views: 1
Suncoast housing update for the week so far
Step by step, rates are inching down—who knows, we might just touch the 5’s soon! What does this mean for home buyers?
- Closed sales are down about 1% year over year.
- The median sale price has dipped by 6.6%.
- On average, homes are selling for 94.6% of their listing price, which translates to over $25,000 less on a $500,000 home.
- Time to contract is up by 56%, giving buyers more breathing room and causing some sellers to feel the heat.
- While pending inventory is down, overall inventory is up a whopping 47.9%, nearly double compared to last year.
This week marks the second busiest listing week of the summer, with new developments driving much of the activity. As rates drop, developers are eager to move their products, leading to some fantastic deals.
For Buyers:
- It’s a great time to jump into the market! Prices are slightly down, and lower rates are making homes more affordable. With more options available, you can leverage concessions to find your perfect fit.
For Sellers:
- If you’re considering selling, remember: the right price will attract buyers. In the coming months, we expect more buyers to enter the market, which could stabilize or even raise prices. With better rates, it’s a great time to list your home.
This is shaping up to be an interesting time for both buyers and sellers, but it won't last forever. Stay informed and ready to act, as the market can tip quickly!
Jim Ahearn
Agent Jim: Making Real Estate Fun, Personal, and Stress-Free on the Suncoast Buying a home is a big deal. You wouldn’t hand your hard-earned cash to a stranger, so why work with an agent who doe....
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Updated on September 25, 2026 11:29 PM UTC
