Tag: Sarasota

November was a very slow month in home sales in Sarasota County when compared to last year and the activity in neighboring Manatee County. It looks like the lower end of the price points on the market weren’t as active in Sarasota County as they were in Manatee. However, there were still a significant number of cash buyers in Sarasota. We will likely have to wait until January activity to see if the early part to our busy season was an aberration. I would be much more inclined to believe we are in for a slower winter if Manatee didn’t come in so strong in November. The graphic below from Florida Realtors highlights more relevant market information.

Even with the weather challenges this fall, Sarasota County’s single-family home sales have been resilient. We haven’t seen the drop off in home sales like we have in Manatee. However, the market has been stronger in the mid to lower-tier price points than the higher-tier listings. Inventory remains in a good place for our rapidly approaching busy season. With the current statistics, it looks like we are in for a balanced market this winter. The infographic below from Florida Realtors contains more from October.

The Sarasota County single-family home market looks to be a few months ahead of Manatee, assuming both counties continue on their pre-existing trends. The balance of power in Sarasota County is closer to a buyers’ market than Manatee, but it isn’t quite there yet. It is still a reasonable market to participate in whether you are buying or selling. One of the big shifts we saw in terms of year-over-year results in Sarasota County was percent of sales that were all cash. It was down materially from 2023. That may be telling us that investors are backing off the market for now. The infographic from Florida Realtors below contains more information.

Inventory gains continue to outpace closed sales in Sarasota County. It isn’t yet at a point where buyers will gain the upper hand, but it sure is close. At this point, each transaction will have its own leverage points for buyers and sellers, which is actually a great market to be in. Cash sales as percentage of transactions saw a major drop in July. That will be an interesting statistic to watch in the coming months as a lower number there allows more people to compete for homes in Sarasota County. The infographic below from Florida Realtors contains more information.