We continued to see the same pattern in Manatee this month as new listings exceeded closed sales, so our inventory continued to expand. While we are still in a seller’s market, the trend is towards market balance. The median sales price decreased by 13% in October, which was the largest decrease we have seen in years. Busy season is now upon us, so the next few months will be telling. It certainly seems like a reasonable time to be either a buyer or seller in Manatee, although the low transaction volume will likely cause sellers to have to be a little patient. The infographic below from Florida Realtors has more information for October.
