Published in the July magazine, In Conversation: The State of Real Estate showcases five local experts in the real estate and construction field. Below is an excerpt from the discussion in which Alexandria Twigg of Lucido Global of Keller Williams Realty shares insight with SRQ readers about inventory on the residential market.

WHEN WE TALK ABOUT HAVING “LESS THAN A MONTH ON INVENTORY,” WHAT DOES THAT MEAN HISTORICALLY? 

They always say, “Six months of inventory up, buyer’s market. Six months less, seller’s market.” So the fact that we don’t even have half of a month of inventory on the market is leading to multiple offers, bidding wars, people purchasing from all over the world not even seeing these properties. If you look back at December when we ended the year, our average price per square foot just in Sarasota County was $239. In March, the average price per square foot was $276. That’s a $37 a square foot raise in one quarter. It’s unheard of. So if you look at the trend going upwards, we’re just flying right now. Nationally the trends say that once a majority of the population is vaccinated, we will see an increase in inventory. I don’t necessarily think that’s going to happen here in our area. 

This is an excerpt from the In Conversation with Leaders in Real Estate and Construction published in the July 2021 edition of SRQ Magazine. Click here to see the full article. 

Read More From In Conversation Here