Bill Garrison, Realtor, RE/MAX Platinum Realty
Bill Garrison, Realtor, RE/MAX Platinum Realty
Jun 22, 2022
People in Venice, FL. worry we're in a real estate bubble. It wasn't that long ago that the market crashed and sent home and condo values tumbling. But the recent spike in home prices has little in common with what was happening before the crash in 2008. Experts agree. A recent survey of economists found that most of them say what's happening in today's market is not a bubble. The home and condo price increases we've experienced in Venice, FL. over the past few years are the result of an imbalance of supply and demand. Put simply, there are a lot of people interested in buying a home in Venice, FL. while the supply of homes available for sale is much lower than normal. The number of available listings is about 50 percent lower than it was just two years ago. When that happens, buyers must compete for the home and condos that are on the market, which leads to bidding wars and higher prices. Demographics and low inventory in Venice, FL. are the primary reasons prices have been rising, and those aren't factors that are likely to change anytime soon.