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Home Buying Home Prices Home Selling Real Estate

Sarasota County SFH Market Update

The biggest difference between Sarasota County and Manatee County this month is that closed sales in Sarasota continued their downward YoY trend while Manatee’s moved up. It looks like Sarasota is still challenged in the lower half of the market as the median sales price continues to rise. That said, the market in Sarasota is still more balanced than it has been in some time. It remains a good time to be a buyer or a seller, but more inventory would definitely benefit the market as a whole. See the infographic below from Florida Realtors for more.

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Home Buying Home Prices Home Selling Real Estate

Manatee SFH Market Update

While new listings were down YoY in May, we saw both closed sales and overall inventory rise when compared to May of 2022. The lower half of the market seems to be more active this year as the median sales price is finally moving down a bit. While I would like to see listings and inventory continue to rise, the market is continuing to look healthier now than it did a year ago. It is a reasonable time to be a buyer or seller in Manatee County. See the infographic below from Florida Realtors for more.

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Home Selling Real Estate

Not All Offers Are Equal

Florida Realtors has provided the helpful infographic below with information for sellers to consider in addition to price.

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Home Buying Home Selling Real Estate

On Investor Activity

Investor purchases dropped almost by half year-on-year in the 1st quarter of 2023 as elevated interest rates along with declining rents and housing values ate into potential profits, according to a report from Redfin. Of total home sales, investors had a 17.6% share.

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Home Buying Home Prices Home Selling Real Estate

Sarasota SFH Market Update

The single-family home market in Sarasota County moved largely in lockstep with Manatee in April. We saw the same offsetting market data that leads to neither sellers or buyers having overwhelming negotiating leverage. As we head into the summer season, it looks like the Sarasota County market will remain in a healthy balance. The infographic from Florida Realtors below contains more detailed information on the results from April.