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The Sarasota Manatee Realtors Association reports that according to the recent numbers compiled by Florida REALTORS® from My Florida Regional MLS, April 2017 reflects an increase in single family closed sales, median sales prices and inventory in Sarasota and Manatee County as compared to April of 2016.
Closed sales in Sarasota County increased by 8.3 percent for single family homes, while Manatee County experienced a 1.5 percent increase. Condos, however, decreased in sales in the month of April. Sarasota condo sales decreased by 0.3 percent this month and Manatee decreased by 22 percent.
Median prices of Sarasota County single family homes increased by 9 percent to $272,500, while condos decreased by 1.4 percent to $215,000. Single family homes in Manatee County increased in median price by 5.4 percent to $295,000, while condos in Manatee increased by 2.1 percent to $170,500.
The number of properties that were put on the market during April decreased in both counties from last month, a good indication of the end of the season.
When looking at the total inventory in the two-county area, there is a 9.3 percent increase of active listings from this time in 2016, but inventory continues to be very tight, especially in lower price ranges. In Sarasota County, the inventory of single family homes increased 12.3 percent and condos by 12 percent. Single family homes in Manatee County increased by 3.6 percent, while condos increased by 9.7 percent.
In April 2017, we saw an increase in time to contract over last year in both counties. Sarasota single family homes increased to 45 days on market, up from 35 last year, and the time for condos increased to 46 days, also up from 35 days a year ago. In Manatee County, time on market for single family homes increased to 46 days from 38 last year, while condos rose from 33 days last year to 50 days on market this year.
To view the full press release and statistical charts click here.
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The Realtor Association of Sarasota and Manatee reports that according to the recent numbers compiled by Florida REALTORS® from My Florida Regional MLS, March 2017 proved to show strength in both Sarasota and Manatee County. The combined closed sales for condos and single family in the two-county area increased by 6.2 percent from March of 2016.
Sarasota condo sales increased by 13.5 percent from last year, while single family homes increased by 2.6 percent. Manatee single family home sales increased by 11.7 percent, while condos were down by 4.4 percent from 2016.
Pending sales are the number of listings that went under contract and can be an indicator of future closed sales. In the two-county area, pending sales increased by 6.1 percent over last March, unlike the slight drop that occurred in February. Pending sales for Sarasota condos increased by 21.8 percent, while single family homes increased by 7.6 percent. However, Manatee condos experienced a 6.4 percent decrease, while single family homes increased by 0.3 percent.
The inventory of active listings continues to improve over levels last March, up 12 .2 percent in the two county area. Inventory increased across both counties in March, with single family homes increasing by 13 percent in Sarasota and by 10.5 percent in Manatee. Condo inventory increased by 18 percent in Sarasota and by 4.1 percent in Manatee.
Median sales prices also continue to rise in both counties. Median prices for Sarasota single family homes increased to $262,621, up 7.6 percent from 2016, while Manatee single family increased to $290,000, an increase of 7.4 percent. Condo median sales prices increased by 17.3 percent to $230,000 in Sarasota, and by 9.4 percent to $175,500 in Manatee County.
When breaking down the current listings, there are more single family homes for sale in the $200,000 – $299,999 price range in Sarasota with 739 homes. While in Manatee, there are more homes listed in the $300,000 – $399,999 range with 579 listings. As for condos, we see the more listings in the $100,000 – $199,999 range in both counties with 467 properties in Sarasota and 265 properties in Manatee.
With the exception of the Manatee condo market taking a slight dip from last month, the months’ supply of inventory continues to gradually push toward a balanced market. In Sarasota County, the month’s supply of condos is at 6, indicating a buyer’s market, while single family homes remain at a 5.1-month supply. Manatee County is at a 4.8-month supply for condos and a 4.7-month supply for single family.
To read the full press release and view the statistical charts click here.
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The Realtor Association of Sarasota and Manatee just reported that the combined inventory of single-family homes and condos in the two-county area reached 8,557 in February, the highest number since April of 2012. The number of single family homes for sale in Sarasota County is up by 15.1 percent from February of last year, and is up by 6.5 percent in Manatee County. Condo inventory also increased from last year with Sarasota County up by 24.3 percent, while Manatee County was up by 1.6 percent.
Inventory has been rising in each county for nearly twelve months, resulting in an increase of month’s supply and bringing the area even closer to the benchmark of a balanced market of 5.5 months. In Sarasota County, the month’s supply of condos reached 6.2, indicating a buyer’s market, while single family homes are at a 5.1-month supply. Manatee County is at a 4.9-month supply for condos and a 4.6-month supply for single family.
To read the full press release and view the statistical charts click here.
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The Realtor Association of Sarasota and Manatee reports that according to recent data from Florida Realtors® Industry Data and Analysis department, Sarasota and Manatee County wrapped up 2016 with fewer distressed sales, an increase in traditional closed sales, an expanding inventory and higher median prices as compared to the year before.
The combined 2016 closed sales of single-family homes and condos in Sarasota and Manatee County totaled 20,091, a 2.6 percent decrease from 2015, which was a record year. However, total sales in 2016 exceed each of the four years prior to 2015.
Condo sales in Manatee County bucked the trend, with 2,606 closed sales in 2016, a 7.7 percent increase over the previous year. Condo sales in Sarasota County decreased 4 percent, with total sales of 3,603. Single family sales in Manatee County decreased nearly 1 percent, for a total of 6,057, while Sarasota County showed 7,825 sales, a decrease of 6.3 percent.
While record sales were not achieved, the health of the market is shown by the fact that traditional sales increased while sales of foreclosures and short sales declined in the two-county area. Distressed sales totaled only 1,290 in 2016 compared to 3,004 in 2015, a decrease of 57.1 percent. As a share of total sales, distressed sales represented only 6.4 percent of total sales in 2016, approaching the more normal level of about 2.5 percent for distressed sales.
To read the full press release and view statistical charts click here.
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The Sarasota Manatee Association of Realtors reports that condo sales increased in December as compared to the previous year, with Sarasota at a 12.5% increase and Manatee at a 7.8% increase. Single family home sales decreased in Sarasota County by 6.1% and Manatee by an 8.2% decrease.
December also showed a significant increase in inventory in the two-county area, with condo inventory increasing by 30 percent over last December and single family increasing by 18 percent.
While many markets have been reporting a decrease in cash sales, that is another area of strength for the two-county condo market. This December, 63.1 percent of all condo sales were cash sales, compared to 66.1 percent last December. Cash sales of single family homes were 34.1 percent of all single family sales in December, compared to 40.9 percent last December.
Median prices for single family homes are up in both counties, with Sarasota County up by 10.3 percent to $264,500 and Manatee County up by 7.5 percent to $285,000 from last December. Median condo prices are down slightly in Sarasota by 1.1 percent to $217,000, while Manatee County experienced a 3.8 percent increase to $185,000.
The months’ supply of inventory continues to rise toward a balanced market, favoring neither a seller or a buyer. Sarasota condos hit the balanced threshold of a 5.5-month supply, while single family homes are at a 4.5-month supply. Manatee County condos are at a 4.4-month supply and single family at a 4.1-month supply of condos.
To view the full press release and statistical charts visit RASM.
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The Realtor Association of Sarasota and Manatee reports that total closed sales are up by 8.7 percent from November 2015 for single family homes and condos in Sarasota and Manatee counties. Single family homes showed the most improvement from last year, with a 10.5 percent increase in the two-county area, while condos also increased by 4.5 percent.
Inventory also showed improvement from November of 2015, with a combined 12.6 percent increase in the two-county area. Single family home inventory in Sarasota increased by 10 percent, while Manatee
experienced a 6.4 percent increase. Sarasota condo inventory increased by 28.6 percent and Manatee County increased by 12.1 percent.
New pending sales have been on the rise since September of this year. Sarasota County condo new pending sales increased by 39.8 percent from last year and single family by 24 percent. Single family home new pending sales in Manatee increased by 25.1 percent, while condos increased by 8.4 percent
from 2015.
The months’ supply of inventory has also been on the rise since September, slowly moving toward a balanced market (6-month supply). Sarasota single family homes are at a 4.4-month supply and condos are at a 5.4-month supply. Manatee County single family homes are at a 4.2-month supply and condos are at a 4.2-month supply of condos.
When comparing to 2015 prices, the median sales price for single family homes increased in both counties. Sarasota single family homes experienced a 15.8 percent increase to $265,000, while Manatee increased by 3.3 percent to $279,000. Condo median prices were down slightly from last year, with
Sarasota decreasing by 1.3 percent to $196,500 and Manatee decreasing by 1.9 percent to $160,500.
To read the full press release and statistical charts click here.
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The inventory of properties for sale in Sarasota and Manatee Counties is up by 17.5 percent from last year, and also shows an increase of 3.1 percent from last month, reversing the downward trend that started earlier this year. Year over year, single family home inventory in Sarasota increased by 15.7 percent, while Manatee experienced an 11.3 percent increase. Sarasota condo inventory increased by 35.8 percent and Manatee County increased by 11.4 percent.
New pending sales are up from last month in both counties and also compared to last year. Sarasota single family homes saw a 24 percent increase from last month, with condos up 17.2 percent. Manatee county single family homes increased by 6.3 percent, while condos increased by 24.5 percent. Both Manatee and Sarasota county increased by 3.3 percent in new pending condo sales from 2015 and by 1 percent for single family pending sales from last year.
Closed sales continued the downward trend we have seen most of the year. Combined, sales are down by 6.9 percent from last year. This decrease was also reflected from the previous month, a combined decrease of 10.3 percent for condos and single family homes in the two-county area.
To read the full press release from the Realtor Association of Sarasota and Manatee click here.
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The Sarasota Manatee Board of Realtors reports that total closed sales in September in the two-county area are up 2.6 percent over September of last year, with single family sales up 3.8 percent, and condo sales down just under 1 percent. Single family home sales in Manatee County posted a 13.8 percent increase, while condo sales in Sarasota County were up 3.3 percent over last year. Sales were down year over year by 3 percent for Sarasota County single family and down 6.2 percent for Manatee County condos.
While inventory in the two counties is up 19.8 percent from last year at this time, levels have been declining since the end of the season, a typical trend each year. Single family home inventory in Sarasota increased by 19.2 percent, while Manatee experienced an 11.1 percent increase, year over year. Sarasota condo inventory increased by 39.4 percent and Manatee County increased by 14.9 percent.
Both counties saw an increase from last year in median sales prices for single family homes with Sarasota experiencing an 11.3 percent jump to $249,000 and Manatee a 1.1 percent increase to $269,000. Median sales for Manatee condos increased by 13 percent, to $178,000, while Sarasota condos experienced no change, remaining at $192,500.
Distressed sales continue to become more insignificant in the market, with only 96 recorded in September this year, accounting for only 5.8 percent of all sales, compared to 200 in the same month last year, when they accounted for 12.4 percent of sales. The reduction in distressed sales accounts for some of the increase in median prices, as those sales are typically priced below market for similar non-distressed sales.
A seller’s market remains in both Sarasota and Manatee County. According to September 2016 data, Sarasota single family homes are at a 4.2-month supply and condos are at a 5-month supply. Manatee County single family homes are at a 4-month supply and there is a 3.8-month supply of condos. A balanced market is considered to be a 6-month supply.
To read the full press release and view the statistical charts visit Sarasota Manatee Realtors.com
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From October 21st to November 20th, experience life in Lakewood Ranch during the annual home tour featuring more than 50 stunning model homes throughout the community. Some of the communities featured are The Lake Club, Country Club East, Bridgewater, Esplanade, Mallory Park, Indigo, Harmony, Arbor Grande (villas), Del Webb (over 55 community) and the Waterfront at Main Street (condos). Even if you’re not in the market for a new home it’s a great way to check out the latest in design and home décor.
The Lakewood Ranch Business Alliance, Lakewood Ranch Community Activities and Lakewood Ranch will kick off the Tour of Homes on Friday, October 21st at Main Street. This block party will supply lots of family fun. Yesterdayze will fill the air with country, 60’s medley, motown and surf music. The DJ will keep you dancing as they play today’s Top 20 hits. Grace Community Church will supply the kid’s zone. All proceeds will benefit the Lakewood Ranch Business Alliance, a local non-profit that is focused on building a stronger more successful business community in Lakewood Ranch. Guests are welcome to bring chairs, but please leave coolers at home. Dogs are welcome but must be kept on a short leash. For more information visit LWRBA.org. Don’t miss the fun at this FREE event!
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The Sarasota Manatee Association of Realtors reports that sales of distressed properties in the two-county area continued to decline in August, down 53.9 percent from the same month last year. Distressed sales in August comprised only 5.8 percent of total sales compared to 12.8 percent last August. Closed sales of single family homes and condos combined are up only slightly, 1.8 percent ahead of last August. But a closer look at traditional sales (non-distressed properties) reveals a 9.9 percent increase over the same month last year.
Pending sales in Manatee and Sarasota showed an improvement from last month. For single family homes, pending sales increased between July and August of this year, reversing the downward trend that started in May in both counties. Ten percent more single family homes went under contract this month compared to July in Sarasota County, and Manatee County experienced a 9.3 percent increase. Pending condo sales, however, continued on a downward trend that started in April after seasonal residents left the area, but were only just under 3 percent lower than July’s pending condo sales.
The inventory of properties for sale is up significantly from last year at this time, about 22 percent. Single family homes in both counties experienced a 17.6 percent increase in inventory, while condos showed a 32.9 percent increase. Sarasota maintains a 5.1 months’ supply of condos, while Manatee
reflects a 3.8 months’ condo supply. As for single family homes, Sarasota has a 4.1 months’ supply and Manatee is at a 4.2 months’ supply. A seller’s market is indicated by this figure remaining under the six month benchmark. Median prices continue to rise from 2015 to 2016.
For the full press release and statistical charts click here.
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