Today I picked Grand Palm in Venice FL for a quick analysis of the local real estate market.
Venice has experienced low inventory of homes for sale for quite a while. That is obviously changing, especially in Grand Palm. As of this writing, there are 44 properties for sale: 37 single family homes and 7 villas. 24 of these single family homes have had a price change since April 1.
The single family homes for sale have been on the market for a median 61 days. The most expensive home currently for sale is listed at $1,435,000, on the market for 242 days.
I picked at random a home for sale in the mid $600,000's, that was last sold in the mid $300,000's in 2019.
Increased inventory of homes for sale means more time for buyers to choose the right home for their needs, and more time on the market, which usually translates to lower prices and price reductions. Neighborhoods like Grand Palm are ripe for a real estate slow down and price reductions.
Working as your real estate buyer's agent, or your listing agent, requires experience and knowledge to make a thorough analysis of the market and how it could affect your real estate transaction.
Contact me to get started 941-993-6853 david@davidbarrhomes.com
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