Tag: Sarasota

Inventory rose much quicker than sales for single-family homes when I compare December year-on-year statistics in Sarasota County. I believe some of that rapid increase is just timing as people are putting their homes up for sale in anticipation of prime selling season in Sarasota. That said, if we see this trend for a few months, buyers will end up having material leverage in the market. Overall, the market is still healthy, but we need to keep a closer eye on Sarasota County in the short-term. See the infographic below from Florida Realtors for more information.

Inventory rapidly expanded in Sarasota County in October. While increased transactions in Q1 2024 should slow down the inventory expansion, we will likely continue to see the median sales price trend down for the next month or two. Sarasota continues to be a seller’s market, but it is closer to being in balance than Manatee. Cash is still king in Sarasota as almost half of transactions in October were in cash. As with Manatee, it looks to be a reasonable time to be on either side of a transaction in Sarasota at the moment. Let’s hope it stays that way through our busy season.