Despite all of the gloom and doom in the media and among some of our fellow Realtors, we are having a great year and I am seeing the marketplace stabilize. In Sarasota County, single family and condo inventory in the luxury bracket - defined as 1 million and up - has stabilized at 1,279 units with a steady absorption rate of approximately 50 units per month.  In Manatee County, there are 404 units, down from a peak of 484 in February with an absorption rate of 10 per month. 

While it will take time to work through the inventory and return to balance, the writing is on the wall that now is a great time to step in and take advantage of the options available.  There is tremendous opportunity for savvy buyers looking for the right opportunity, not to mention tremendous investment potential for investors with a strong cash position and the belief that real estate in Florida is a great investment over the long haul. 

PS.  There is still not a condo glut! How is this true? Consider this fact: even though the media reports on the many planned projects only a select number of new projects will come out of the ground in the next 18 months. This may be a great time to get a good buy and have plenty of upside.