Hereโ€™s a look at the Sarasota & Manatee Countiesโ€™ Real Estate Market for August 2024. According to statistics from the REALTORยฎ Association of Sarasota and Manatee, both counties show a decrease in the average price for home listings month-over-month. Read more about this monthโ€™s real estate market trends.

๐Ÿ“ˆ A Look at Sarasota County Housing Stats

August 2024 began with a median sale price for single-family homes of $470,000 in Sarasota County. This amount shows a decrease of 12.1 percent from the $535,000 recorded at this same time last year. The average sale price is $678,657, down 2.1 percent from the $693,180 in August 2023. We are seeing a decrease from the previous month’s $689,301.

There were 642 closed sales in July 2024, which shows an increase of 1 percent from the 633 closed sales in July 2023. We moved into August with 3,068 active listings in Sarasota County. This number shows a rise of 59.5 percent from this time last year.

Thereโ€™s a 4.8-month supply of available homes in Sarasota County. Last year at this time there was a 3.2-month supply. For the market to be considered balanced, a supply of 6 months of inventory must be supplied.

๐Ÿ“Š A Look at Manatee County Housing Stats

Manatee County started August 2024 with a median sale price for single-family homes of $499,000. This amount shows a decrease of 3.1 percent from the $515,000 recorded at this same time last year. The average sale price is $661,104, which is up 8.4 percent from the $641,991 recorded last year. This month’s average price is down from last month’s $736,322.

There were 686 closed sales in July 2024, which shows an increase of 9.9 percent from the 624 closed sales in July 2023. We moved into August with 2,488 active listings in Manatee County. This number shows an increase of 55.2 percent from this time last year.

Thereโ€™s a 3.9-month supply of available homes in Manatee County. This number is up 55.2 percent from last year’s 2.7-month supply.

๐Ÿ  Condo and Townhouse Details

In Sarasota County, the average sale price for condos and townhouses is $537,872. This number shows an increase of 2.7 percent from the $523,922 recorded this time last year.

The average sale price for condos and townhouses in Manatee County is $354,404. Compared to the $388,610 recorded in August 2023, weโ€™re seeing a decrease of 8.8 percent.

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Sarasota County reports 354 new listings, which is an increase of 6.9 percent from last yearโ€™s 331 new listings. Manatee County recorded 282 new listings, which is a 0.4 percent increase from last year’s 281 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 increased by 8.3 percent with 799 new properties placed on the market in July 2024. There were 771 new listings to hit the market in Manatee County, which shows a rise of 8.3 percent from last year.

The number of cash sales in Sarasota County last month was 238, which is 15 percent lower than last year’s 280. The number of cash sales in Manatee County was 217, which is 14.2 percent higher 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 93.1 percent, which is 3.3 percent lower than last year. Manatee County is recording 95.8 percent received, which shows a decrease of 1.3 percent from July 2023.

Sarasota Countyโ€˜s median time to sale is currently 94 days, with the median time to contract at 52 days. Manatee County is reporting a median time to sale of 100 days and a median time to contract of 52 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 $678,657 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 $661,104 or less.

Summary
Sarasota & Manatee Counties Real Estate Market Report - August 2024
Article Name
Sarasota & Manatee Counties Real Estate Market Report - August 2024
Description
The average sale price for homes in Sarasota County is $678,657. Manatee County's average sale price is $661,104.
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Brock Realty Inc
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