SARASOTA’S HOUSING INVENTORY RETURNS TO 2019-2021 LEVELS
A consistent increase in inventory over the past several months has restored the number of active listings to pre-pandemic levels, upholding the normalization of the Sarasota and Manatee County real estate market.
Still Good news for Sellers.
With just under two months of inventory available (the number of months it would take for all current homes on the market to sell), it still remains a seller’s market as properties that closed in August sold on average 98.2% of the asking price.
Home sales for August went under contract within a median of 10 days, proving our market remains in demand when compared to five years ago this month when the median was 45 days.
Property values remained strong for August, increasing 21.1% year-over-year with a median sold price of $445,000 for Sarasota and Manatee counties combined.
Looking at specific areas here are the numbers for active listing for 2 bedrooms + / 2 baths + condos and single family homes.
Downtown Sarasota – 71
Lido Key – 11
Longboat Key – 37
Siesta Key – 68
Single family homes
Lido Key/Bird Key – 13
Longboat Key – 29
Siesta Key – 50
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Maureen and Patrick
Michael Saunders & Co