We saw a very solid real estate market for single family homes in the first half of 2018 in both Manatee and Sarasota counties. Between the two counties, almost $3 billion worth of homes sold from January through June. The table below shows some of the highlights from the first half of this year.
Between the two counties, almost 10,000 new homes came into the market. Further, around 8,500 homes went into contract and almost 7,500 home sales actually closed. Although it feels like the Sarasota market is much bigger than Manatee, the reality is that only 20-25% more transactions happen in Sarasota.
What is definitely different in Sarasota County is the percent of homes sold to cash buyers. Almost 40% of homes in Sarasota County are sold to cash buyers, while that number is less than 30% in Manatee. To stand out as a buyer in Sarasota County, you should be prepared to come to the table with a cash offer.
Both counties see the median time from listing to actual sale of single family homes at just north of three months. If you read my other regular posts, you will know that number differs widely across price points. That said, the market as a whole is turning quite quickly.
Feel free to contact me for more insights about homes in your price point and or neighborhood. While the data above represents activity at the county level, real estate is hyper local. What is happening at one price point in one part of our neighborhood can look very different a half a mile down the road.