July 2020 continued a trend of declining inventory and increasing sales in the Venice area, fueling an already strong seller’s market. While the COVID-19 crisis slowed activity dramatically in March and April, the real estate market has rebounded in a big way. While the number of sales is only down 5% from this same time last year, the number of available homes has dropped by more than 40%. Inventory in the Venice area has reached its lowest levels in more than a decade, while at the same time the number of homes sold during that some time is near record highs. As one might expect, the average sale price for homes in the Venice area is up 4.6% so far in 2020. Sales have been strongest in the single family home segment where average sale prices are up 6.5% so far in 2020.
Contact the professionals at the Ritter Group for all your real estate needs at 941-961-4046.