Here’s a look at the Sarasota & Manatee Counties’ Real Estate Market for February 2020. According to statistics from the REALTOR® Association of Sarasota and Manatee, the dollar volume for homes in both counties is on the rise when compared year-over-year. Read more about this month’s real estate market trends.

📈 A Look at Sarasota County Housing Stats

February began with a median sale price for single-family homes of $296,000 in Sarasota County. This amount shows an increase of 3.3 percent from the $286,600 recorded this same time last year. The average sale price is $410,249, which is down 0.5 percent from the $412,457 in February 2019, but we are seeing an increase from last month’s $383,228.

preparing real estate market report

There were 565 closed sales in January 2020, which shows a substantial increase of 22.8 percent from the 460 closed sales in January 2019. We moved into February with 2,704 active listings in Sarasota County. This number shows a drop of 23.8 percent from this time last year.

There’s a 3.6 months supply of available homes in Sarasota County. Last year at this time there was a 5.4 month supply. For the market to be considered balanced, there needs to be a supply of 6 months of inventory.

📊 A Look at Manatee County Housing Stats

Manatee County started February with a median sale price for single-family homes of $329,500. This amount shows an increase of 6.6 percent from the $309,000 recorded this same time last year. The average sale price is $420,775, which is up 8.7 percent from the $386,927 recorded last year.

There were 410 closed sales in January 2020, which shows an increase of 22.4 percent from the 335 closed sales in January 2019. We moved into February with 1,973 active listings in Manatee County. This number shows a drop of 16.3 percent from this time last year.

There’s a 3.4 months supply of available homes in Manatee County. This number is down 22.7 percent from last year’s 4.4 months supply.

🏠 Condo and Townhouse Details

In Sarasota County, the average sale price for condos and townhouses is $475,464. This number shows an incredible increase of 38.1percent from the $344,209 recorded this time last year.

The average sale price for condos and townhouses in Manatee County is $236,867. Compared to the $241,191 recorded in February 2019, we’re seeing a decrease of 1.8 percent.

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Sarasota County reports 688 new listings, which is an increase of 4.1 percent from last year’s 661 new listings. Manatee County recorded 461 new listings, which is a 9.2 percent increase in year-over-year numbers.

📱 Contact Brock Realty Inc.

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💲 What does this mean for home buyers?

New listings in Sarasota County dropped by 13.7 percent with 1,092 new properties placed on the market in January 2019. There were 774 new listings to hit the market in Manatee County, which shows a decrease of 3.7 percent from this same time last year.

The number of cash sales in Sarasota County last month was 246, which is a 46.4 percent increase from last year. The number of cash sales in Manatee County was 114, which is 11.8 percent higher than this month last year.

💵 What does this mean for home sellers?

When it comes to the median percent of original list price received, sellers in Sarasota County are recording 96.2 percent, which is an increase of 0.9 percent from last year at this time. Manatee County is recording 96.3 percent received, which is an increase of 0.6 percent from February 2019.

Sarasota County‘s median time to sale is currently 81 days, with the median time to contract at 34 days. Manatee County is reporting a median time to sale of 91 days and a median time to contract of 41 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.

🏘️ 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 $410,249 or less.

🏘️ 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 $420,775 or less.

Summary
Sarasota & Manatee Counties Real Estate Market Report - February 2020
Article Name
Sarasota & Manatee Counties Real Estate Market Report - February 2020
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The average sale price for homes in Sarasota County is $410,249. Manatee County's average sale price is $420,775. See more real estate market stats here!
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Brock Realty Inc
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