Homes and Condos Sell Fast in Sarasota and Manatee Counties, Real Estate Agents Report
Homes and condominiums are selling quickly in Sarasota and Manatee counties, with inventory levels lower in December, causing properties to spend less time in the market.
According to data from Florida Realtors compiled by the Sarasota and Manatee County Real Estate Association, single-family home sales were up 40.2% year-over-year in the two-county market in December. .
“It’s one of those weird times when it’s a good time to sell but it’s also a good time to buy,” said Alex Krumm, president of RASM 2021, in the press release.
Other highlights of the report include:
- The total number of sales concluded in the two counties increased by 36.4%.
- In Sarasota County, 1,038 single-family home sales were closed in December, up 39% from a year ago.
- In Manatee County, 831 single-family home sales were closed in December, an increase of 41.6% year-over-year.
- Condo sales increased 45.1% to 338 sales in Manatee and 19.4% to 498 sales in Sarasota County.
- Median prices also jumped in both counties.
- Prices for single-family homes in Manatee rose 6.8% to a median selling price of $ 357,900. In Sarasota County, selling prices climbed 17.8% to a median of $ 350,000.
- Median condominium selling prices increased 19.5% to $ 239,000 in Manatee and 7.3% to $ 276,745 in Sarasota County.
- Single-family homes have also moved faster, with the median time from listing to contract date falling 68.8% to 15 days on the market in Manatee County. In Sarasota County, it fell 47.1% to a median of 18 days.
- Inventory levels remain low, at a 1.5 month supply in Manatee and a 1.6 month supply in Sarasota for single family homes. The condo inventory supply fell to two months in Manatee and 2.6 months in Sarasota.