The real estate market for townhomes and condos in both Manatee and Sarasota counties was great for sellers in the first half of 2018. Between the two counties, almost $1.3 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, over 3,800 townhomes and condos sold through June of this year. As expected, the Sarasota County market saw almost 2,400 of those sales. Further, more transactions went to cash buyers in Sarasota County (61%) than Manatee County (54%). That said, anytime more than half of the market consists of cash buyers, sellers should be seeing good things (assuming the mortgage market hasn’t seized up, which it hasn’t).
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 can differ widely across price points. That said, the market as a whole is turning quite quickly.
Feel free to contact me for more insights about condos or townhomes 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.