The results show that our area is poised for another potential record-breaking year in 2015 for real estate sales. Even with a severe inventory shortage, sales didn’t waiver in June as closed transactions pushed into near-record territory with median sale prices rising in both counties.

Year-over-Year Comparisons

Inventory Shortages

Sarasota County – down 16%
Manatee County – down 6%

Residential Sales in June 2015

Sarasota and Manatee Counties – 2,000+ 12.9% increase

Single Family Median Sale Prices

Sarasota County – up 17.9%
Manatee County – up 3.6%

Condominium Median Sale Price

Sarasota County – up 7.7%
Manatee County – up 4.9%

Median days on Market

June 2015: 43 and 57 days
June 2014: 55 to 66 days

Supply of inventory remains well below the 6-month level that defines a market in equilibrium between buyers or sellers. This means sellers remain firmly in command, based upon that market statistic, which is also reflected in the rising median sale prices and lower average days to closings.

Pending sale numbers indicate that our market will continue to experience high sales volume as well as median sale price increases, however the inventory shortage will remain a key concern for this fall.

If you are considering selling, now might be a good time to discuss your options and know your home’s value in today’s ever-changing market.