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Season Off to Solid Start in Sarasota and Manatee

Wednesday, February 22, 2017   /   by Ally Valdes

Season Off to Solid Start in Sarasota and Manatee

Blog provided courtesy of Realtor Association of Sarasota and Manatee 

CLICK HERE
download the final report and statistics. 

The February 2017 statistics are scheduled to be released on March 22.
 
SARASOTA, Fla. (February 22, 2017) - Recent data produced by Florida REALTORS® for our two-county area indicates January 2017 to be off to a solid start to this season's sales. 
 
Inventory has been increasing in the two-county area each month since September. The result of higher inventory is that we are very near the balance between a seller's and a buyer's market. January also saw an increase in both year over year and month over month in the number of properties that went under contract during the month.
 
Inventory in the two-county area increased by 17.9 percent over January of last year. Sarasota condo inventory increased by 27.1 percent, while single family was up 20.8 percent. In Manatee County, condos were up by 11.4 percent and single family by 10.9 percent. 
 
New pending sales in the month increased. The combined county pending sales reflect an 8 percent increase from January of 2016. 
 
"The increased inventory is easing the supply and demand pressure and giving buyers more choices," says Xena Vallone, 2017 RASM President. "The increase in pending sales is a good indication of future closed sales." 
 
Median prices for Sarasota single family homes increased to $250,000, while Manatee single family increased to $279,000. With fewer homes available to purchase below $200,000, largely because of the decline of distressed properties available for purchase, we can expect median prices to continue to rise. Condo median sales prices rose to $239,900 in Sarasota and to $175,000 in Manatee. 
 
Closed sales in the two-county area are up by 11.6 percent from January 2016 for condos. Meanwhile, single family home sales in Sarasota and Manatee showed an 8.2 percent decrease. Collectively, distressed sales experienced a 51.8 percent decrease from last year, while traditional sales (non-distressed) experienced an increase of 3.5 percent, making a healthier market.  
 
The months' supply of inventory indicates a more balanced market, with an increase across the board. Sarasota condos are at a 5.9-month supply, surpassing the threshold of a balanced market at 5.5 months, while single family homes are at a 5-month supply. Manatee County condos are at a 4.8-month supply and single family at a 4.5-month supply of condos.
 
"A balanced market is driven by supply and demand and favors neither the seller nor the buyer," says Vallone. "If the market is strong and balanced, buyers have more choices and sellers have a larger pool of buyers."   
 
CLICK HERE to download the final report and statistics.
 
Or visit our website to view all statistics.

  for buyers, for sellers

Hunt Brothers Realty, Inc.
Licensed Real Estate Brokerage
46 N Washington Blvd Suite #3
Sarasota, FL 34236
941-388-7017

The source of this real property information is the copyrighted and proprietary database compilation of the Southwest Florida MLS organizations Copyright 2023. Southwest Florida MLS organizations. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification.
2023 Royal Palm Coast REALTORĀ® Association. All rights reserved. Information has not been verified, is not guaranteed, and is subject to change. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) of the Florida Gulf Coast Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than Chris Hunt Sites IDX logo and detailed information about them includes the name of the listing brokers. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Last Updated: 9/26/2023 1:39 AM CST
The data relating to real estate for sale on this limited electronic display comes in part from the Southwest Florida Multiple Listing Services. Properties listed with brokerage firms other than Chris Hunt Sites are marked with the BR Program Icon or the BR House Icon and detailed information about them includes the name of the Listing Brokers. The properties displayed may not be all the properties available through the BR Program. The source of this real property information is the copyrighted and proprietary database compilation of the participating Southwest Florida MLS organizations and is Copyright 2017 Southwest Florida MLS organizations. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. Some properties that appear for sale on this limited electronic display may no longer be available. For the most current information, contact Chris Hunt Sites Data last updated 9/26/2023 1:39 AM CST.
mls logoĀ© 2023 My Florida Regional MLS DBA Stellar MLS, Inc.. All rights reserved. The data relating to real estate displayed on this website comes in part from the Internet Data Exchange (IDX) Program of My Florida Regional MLS DBA Stellar MLS, Inc. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers' personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law.9/26/2023 1:39 AM CST
The source of this real property information is the copyrighted and proprietary database compilation of the Southwest Florida MLS organizations Copyright 2023. Southwest Florida MLS organizations. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification.
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