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.
While new listings remain relatively low, the market for single-family homes in Manatee County is continuing to be very healthy. We are getting a mixed bag of signals in the transaction data, which continues to indicate that neither buyers or sellers have a significant advantage in negotiating power. For example, while home sales are down YoY, the median sales price is up significantly. Another set of offsetting data is that while cash sales are down YoY, new listings are also down. As long as we have some statistics that lean towards a buyer’s market and others leading to a seller’s market, we are likely to continue to see market balance in Manatee. See the below infographic from Florida Realtors for more information.
Due, in part, to the ongoing shortage of available inventory that is keeping home prices elevated, many economists predict that the housing market is more likely to undergo a correction from the double-digit percentage increases in home prices witnessed over the past few years, rather than experiencing a crash.
In March, the market for single-family homes in Sarasota County continued on the same path that we have observed over the last several months. Although sales remain slightly down year-on-year, the median sales price continues to trend upward. While we saw a shift in Manatee, Sarasota’s statistics remained unchanged.
Although we could still use more inventory in Sarasota, the market is in good shape as we head into summer. As all-cash sales decline, buyers requiring financing now have more opportunities to find their dream home.
The market for single-family homes in Manatee County is continuing to shift. For the first time in quite a while, we are seeing growth in YoY transactions. Strangely enough, the increased transactions are coupled with a reduction in median sales price. The median sales price has been defying gravity for well over a year by just going up and up regardless of the number of homes sold. Despite the shifts in narrative in sales and sale price, the market continues to be very healthy. See the infographic from Florida Realtors below for more details.
