Leave a Message

Thank you for your message. We will be in touch with you shortly.

Sarasota-Manatee Real Estate Market: Sales and Inventory Trends on the Rise

Lisa McBride April 26, 2023

 
The real estate market in Sarasota-Manatee is experiencing a shift towards a more balanced environment, according to the latest report by RASM. Here are the key takeaways:
 
 

Steady Home Values Despite Increased Inventory

Despite an increase in inventory, home values in the area have held steady. This is good news for sellers who may be concerned about market conditions. Buyers, on the other hand, may find more options to choose from due to the increased inventory.
 

Increase in Sales and Single-Family Home Sales in Manatee County

Sales were up last month in the Sarasota-Manatee real estate market, and there was a year-over-year increase in single-family home sales in Manatee County for the first time in 12 months. This could indicate a shift in the market towards a more favorable environment for buyers.
 
 

Median Prices Decrease in Manatee County, Increase in Sarasota County

While there was an increase in sales, there was also the first year-over-year decrease in median prices in Manatee County since February 2019. In Sarasota County, however, the median price for single-family homes was $528,013, representing an 8.3% increase over last March.
 

Significant Growth in Condo Prices

Sarasota and Manatee condo prices also saw significant growth compared to March of last year. Despite these increases, the number of sales in March decreased for Sarasota County and increased for Manatee County, compared to the same month last year.
 
 

Substantial Increase in Inventory Levels

Inventory levels have increased substantially, with the North Port-Sarasota-Bradenton MSA reporting an almost 250% increase in active listings compared to the same time last year. This increase may be partly due to pricing that has yet to respond to the current market.
 
 

Buyer Behavior is Changing

Buyer behavior is changing, with fewer buyers waiving inspections and appraisals as they have more options to choose from. Properties are now taking between 18 to 45 days to go under contract.
 
 

Moving Towards a More Balanced Market

The Sarasota-Manatee real estate market is still a seller’s market, but the shift towards a balanced environment is becoming more apparent. With buyers becoming more cautious and sellers adjusting their pricing, the market is gradually moving towards a more balanced state.
 
Read RASM full report on Sarasota-Manatee Real Estate Market: Sales and Inventory Trends on the Rise here: https://www.myrasm.com/wp-content/uploads/2023/04/March-2023-Press-Release-and-Statistics.pdf
 
If you have questions about the Sarasota-Manatee Real Estate Market, just ask! I’m passionate about sharing insider insights on Sarasota, so be sure to tune in to my YouTube channel for the latest information. For even more news and insights, subscribe to our newsletter and follow us on social media.  You can find us on FBIG, and  TikTok. We’d love to have you as part of our community!

Recent Blog Posts

Stay up to date on the latest trends in real estate.

Sarasota Neighborhood Experts

Is Sarasota’s Real Estate Market On The Verge of a Crash?

Michelle Guzman  |  October 28, 2024

What Luxury Buyers and Sellers Need to Know

Sarasota luxury real estate

How Sarasota’s Luxury Real Estate Market Is Rebuilding After Hurricane Milton

Michelle Guzman  |  October 21, 2024

sarasota palm tree hurricane
Navigating Florida’s Housing Market After a Season of Hurricanes

October 14, 2024

Neighborhood Spotlight: South Gate | Sarasota, FL

Lisa McBride  |  October 4, 2024

South Gate was originally developed in the 1950s as a suburban community for retirees.

Lakewood Ranch Santa Sightings

Lisa McBride  |  October 4, 2024

Stroll down Lakefront Drive to see our Christmas tree, Hanukkah, and other selfie-worthy holiday.

Discover Wellen Park

Lisa McBride  |  October 4, 2024

Wellen Park is currently divided into three Districts – West Villages, Downtown, and Playmore.

Home Buyer Remorse. Do You Regret Buying Your Home? | Sarasota Neighborhood Experts

Lisa McBride  |  October 4, 2024

Are you currently are you experiencing home buyer remorse? Do you regret buying your home?

Get Ready for Gracewater at Sarasota: Your New Home Sweet Home!

Lisa McBride  |  October 4, 2024

Rolling Green Golf Club transforms into Gracewater at Sarasota, it’s a massive moment for our city.

Game-Changing Multi-Gen Neighborhood Coming to Wellen Park!

Lisa McBride  |  October 4, 2024

More and more American families are living together with grandparents, parents, and kids all in one home. This trend has been growing for the last 10 years.

Work With Us

Sarasota Neighborhood Experts will help you achieve or exceed your real estate goals, by providing you with extraordinary quality of service in the buying and selling of real estate. Professionalism, integrity, honesty, and truth are the cornerstones of our business.