Hereโ€™s a look at the Sarasota & Manatee Countiesโ€™ Real Estate Market for August 2023. According to statistics from the REALTORยฎ Association of Sarasota and Manatee, both counties show a decrease in the average sale price when compared year-over-year. Read more about this monthโ€™s real estate market trends.

๐Ÿ“ˆ A Look at Sarasota County Housing Stats

August 2023 began with a median sale price for single-family homes of $535,000 in Sarasota County. This amount shows an increase of 1.9 percent from the $525,000 recorded at this same time last year. The average sale price is $693,180, which is down 3.4 percent from the $717,398 in August 2022. We are seeing a decrease from last month’s $738,617.

Real Estate Market 2023

There were 633 closed sales in July 2023, which shows a decrease of 6.6 percent from the 678 closed sales in July 2022. We moved into August with 1,923 active listings in Sarasota County. This number shows a rise of 24.4 percent from this time last year.

Thereโ€™s a 3.2-month supply of available homes in Sarasota County. Last year at this time there was a 2-month supply. For the market to be considered balanced, there needs to be a supply of 6 months of inventory.

๐Ÿ“Š A Look at Manatee County Housing Stats

Manatee County started in August 2023 with a median sale price for single-family homes of $515,000. This amount shows a decrease of 1.2 percent from the $521,000 recorded at this same time last year. The average sale price is $641,991, which is down 6.9 percent from the $689,490 recorded last year. This month’s average price is down from last month’s $678,994.

Real Estate Market Report 2023

There were 624 closed sales in July 2023, which shows an increase of 10.1 percent from the 567 closed sales in July 2022. We moved into August with 1,603 active listings in Manatee County. This number shows a decrease of 3 percent from this time last year.

Thereโ€™s a 2.7-month supply of available homes in Manatee County. This number is up 8 percent from last year’s 2.5-month supply.

๐Ÿ  Condo and Townhouse Details

In Sarasota County, the average sale price for condos and townhouses is $523,992. This number shows a decrease of 2.5 percent from the $537,132 recorded this time last year.

Real Estate Market R 2023

The average sale price for condos and townhouses in Manatee County is $388,610. Compared to the $409,848 recorded in August 2022, weโ€™re seeing a decrease of 5.2 percent.

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Sarasota County reports 331 new listings, which is a decrease of 12.2 percent from last yearโ€™s 377 new listings. Manatee County recorded 281 new listings, which is a 13.8 percent drop from last year’s 326 new listings.

๐Ÿ“ฑ Contact Brock Realty Inc.

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๐Ÿ’ฒ What does this mean for home buyers?

New listings in Sarasota County decreased by 23 percent with 738 new properties placed on the market in July 2023. There were 701 new listings to hit the market in Manatee County, which shows a drop of 38 percent from last year.

Real Estate 2023

The number of cash sales in Sarasota County last month was 633, which is down 6.6 percent from last year’s 678. The number of cash sales in Manatee County was 624, which is .5 percent lower than this month last year.

๐Ÿ’ต What does this mean for home sellers?

Regarding the median percent of the original list price received, sellers in Sarasota County are recording 96.3 percent, which shows a decrease of 3.7 percent from last year’s 100%. Manatee County is recording 97.1 percent received, which shows a decrease of 2.9 percent from July 2022.

Real Estate 2023

Sarasota Countyโ€˜s median time to sale is currently 73 days, with the median time to contract at 25 days. Manatee County is reporting a median time to sale of 84 days and a median time to contract of 29 days.

A free home valuation report can help build the foundation of knowledge you need to set your asking price so that it gets the attention of potential buyers. Setting the price too high can mean your home sits on the market without an offer, which can waste your time and money.

๐Ÿ˜๏ธ Sarasota County Homes for Sale

See Additional Reports on the Sarasota County & Manatee County Real Estate Market

Here are the most recent home listings just added to the database in the average sale price range for Sarasota County. All homes are priced at $693,180 or less.

๐Ÿ˜๏ธ Manatee County Homes for Sale

Here are the most recent home listings just added to the database in the average sale price range for Manatee County. All homes are priced at $641,991 or less.

Summary
Sarasota & Manatee Counties Real Estate Market Report - August 2023
Article Name
Sarasota & Manatee Counties Real Estate Market Report - August 2023
Description
The average sale price for homes in Sarasota County is $693,180. Manatee County's average sale price is $641,991.
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Brock Realty Inc
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