Home sales jump by double digits across Sarasota and Manatee

Home sales rose across Sarasota and Manatee counties in June as inventory shrank, while single-family home prices increased and condo prices declined.

As buyers returned to the market, closed sales increased across both counties for single-family homes and condos while active inventory fell by double digits in every market, according to the REALTOR® Association of Sarasota and Manatee. Median single-family prices increased 8.2% in Sarasota County and 11.4% in Manatee County, while median condo and townhome prices declined 7.5% in Sarasota and 0.9% in Manatee.

“Sellers who priced their homes appropriately were rewarded with faster contracts and stronger offers,” RASM President David Crawford said in a statement.

Sarasota County recorded 805 single-family sales, up 15.2% from a year earlier, at a median price of $492,450. Active listings fell 27.4% to 2,870 homes, reducing supply to 4.1 months.

Manatee County continued that trend, posting 890 single-family sales, up 26.2% from a year earlier, the largest increase among the four market segments tracked in the report. The median price rose to $490,000, while active inventory declined 15.3% to 2,706 homes, also equal to 4.1 months of supply. Sales from $2 million to $2.99 million increased 162.5%, while transactions from $3 million to $4.99 million rose 166.7%. Sales between $800,000 and $899,999 also more than doubled.

In Sarasota’s condo and townhome market, sales increased 25.5% from a year earlier to 364 transactions even as the median price declined to $343,750. Active inventory fell 12.1% to 1,959 units, reducing supply from 8.3 months to 6.3 months.

Sarasota County also recorded 45 condo sales of at least $1 million, up 50% from a year earlier. Sales between $1.25 million and $1.49 million increased 175%, while sales from $2 million to $2.99 million rose 140%.

Manatee County followed the same pattern, with condo and townhome sales increasing 11.2% to 259 transactions while the median price slipped to $310,000. Active inventory fell 18.2% to 1,327 units, equal to 5.7 months of supply.

Sellers received 94.4% of their original asking price in Sarasota’s single-family market, 95.8% in Manatee’s single-family market and 92% in Sarasota’s condo and townhome market.

The monthly report uses Stellar MLS data compiled by Florida Realtors.