Tag: Sarasota

New listings for single-family homes outpaced closed sales in June in Sarasota. That brought the inventory of homes for sale up to a much more reasonable level than it was in 2022. However, it continues to be challenging to transact at the lower price points in the market. Due to that, the median sales price continues to rise. While the market still favors seller’s, 2023 is shaping up to be a better time to be a buyer than what we saw in 2022. The infographic from Florida Realtors below contains more of the details.

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.

The single-family home market in Sarasota County is moving a bit differently than Manatee. Closed sales are down materially YoY, but the median sales price still rose by 10%. That is telling us that the majority of the reduction in sales is coming from the lower end of the market. Homes from the middle to the higher end of the market seem to be less impacted by the 2023 downturn in volume. Like Manatee, Sarasota’s market is coming into balance between buyers and sellers. However, it is taking a different path depending on price point. The infographic from Florida Realtors below tells more of the story.