BUYERS MARKET in LAKEWOOD RANCH?! | Real Estate Market UPDATE | January 2024

BUYERS MARKET IN LAKEWOOD RANCH?! | Real Estate Market Update | January 2024
How is the Lakewood Ranch Real Estate Market? Is it finally becoming a buyer's market?!
Michael Chenkus here.. It is time for another Real Estate Monthly Market Update!
This month I really wanted to focus on the data, so no fancy houses behind me, but a lot of useful information and big indicators in the Lakewood Ranch real estate market.
I will explain the numbers, price reductions, average days on market, and absorption rate to show you what's happening in the market this January 2024 compared to last January 2023.
And, I will tell you what that means if you're currently in the market to buy or sell, and what type of market we are in.
HINT: It may not be what you think!
If you want to download the PDF to see these real estate market numbers up close, click here:
www.soldbychenkus.com/our-blo...
If you like this video, leave me a comment and let me know! I plan to do this every month to continue sharing real estate market data in Lakewood Ranch, FL.
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Lakewood Ranch Realtors;
Courtney & Michael Chenkus
Charles Rutenberg Realty
[e-mail]
www.SoldbyChenkus.com
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[@johnbudzynski3132]

Thanks Michael. I learn something new with each of your monthly market updates.

[@SoldByChenkus]

Thanks for tuning in... We'll be posting these videos every month to best relay the true picture of our local Lakewood Ranch market.

[@LJH662]

Your inventory increases daily and will continue due to carrying costs.

[@SoldByChenkus]

We are seeing increased inventory for sure. Our latest analysis is landing right on the edge of a balanced/buyer's market. 2024 will be a fun year to watch!

[@Osborneloto]

I’ve been looking for a few months. Way more coming on the market than selling. Builders offering discounts. Scares me to buy. I’m going to continue renting for a year.

[@SoldByChenkus]

There are some good offers out there right now for sure. We're happy to do a cost comparison with you. Feel free to reach out. [e-mail]

[@LJH662]

Resales can’t compete with builders incentives and thus far the resales are exhorbitant.

[@LJH662]

Absorption rate almost 5/6 months. You have static inventory increasing 83% year over year. Again LWR blew up bc of remote jobs and ny people selling overvalued. This is not happening now.

[@SoldByChenkus]

Remote jobs definitely drove the need for homes with multiple in-home offices.

[@FirstCommerceFinancial]

Buyers market is here to stay for years in Lakewood Ranch - Way too much new construction!

[@SoldByChenkus]

10,000 more homes planned give or take... The next 5-10 years will definitely be interesting!

[@LJH662]

And Jan is old data!!!

[@SoldByChenkus]

We'll be posting the next month's data as soon as we've had a chance to analyze it. Stay tuned. Usually by the middle of the month, we can accurately report on last month's stats.