Here’s a look at the Sarasota & Manatee Counties’ Real Estate Market for February 2023. According to statistics from the REALTOR® Association of Sarasota and Manatee, both counties are showing a dramatic increase in active listings when compared year-over-year. Read more about this month’s real estate market trends.
📈 A Look at Sarasota County Housing Stats
February 2023 began with a median sale price for single-family homes of $459,999 in Sarasota County. This amount shows a slight decrease of 1 percent from the $464,500 recorded at this same time last year. The average sale price is $674,468, which is down 0.9 percent from the $680,882 in February 2022. We are seeing a decrease from last month’s $672,688.
There were 411 closed sales in January 2023, which shows a decrease of 37.1 percent from the 653 closed sales in January 2022. We moved into February with 1,787 active listings in Sarasota County. This number shows a rise of 238.4 percent from this time last year.
📊 A Look at Manatee County Housing Stats
Manatee County started in February 2023 with a median sale price for single-family homes of $505,710. This amount shows an increase of 5.4 percent from the $480,000 recorded at this same time last year. The average sale price is $650,544, which is up 5.8 percent from the $514,630 recorded last year. This month’s average price is up from last month’s $610,237.
There were 368 closed sales in January 2023, which shows a decrease of 31.7 percent from the 539 closed sales in January 2022. We moved into February with 1,816 active listings in Manatee County. This number shows an increase of 323.3 percent from this time last year.
🏠 Condo and Townhouse Details
In Sarasota County, the average sale price for condos and townhouses is $665,366. This number shows an increase of 10.6 percent from the $601,593 recorded this time last year.
The average sale price for condos and townhouses in Manatee County is $345,000. Compared to the $379,451 recorded in February 2022, we’re seeing an increase of 3.4 percent.
SUGGESTED READING: Mortgage Loan Types with Mortgage Calculator
📱 Contact Brock Realty Inc.
💲 What does this mean for home buyers?
New listings in Sarasota County increased by 5.8 percent with 858 new properties placed on the market in January 2023. There were 781 new listings to hit the market in Manatee County, which shows a rise of 9.7 percent from last year.
Suggested Reading: Should I Buy a Home During the Coronavirus Pandemic?
The number of cash sales in Sarasota County last month was 188, which is down 38.4 percent from last year’s 305. The number of cash sales in Manatee County was 132, which is 31.6 percent lower than this month last year.
💵 What does this mean for home sellers?
Regarding the median percent of the original list price received, sellers in Sarasota County are recording 95.2 percent, which shows a decrease of 4.8 percent from last year’s 100%. Manatee County is recording 95.4 percent received, which shows a decrease of 4.6 percent from February 2022.
Sarasota County‘s median time to sale is currently 74 days, with the median time to contract at 29 days. Manatee County is reporting a median time to sale of 81 days and a median time to contract of 32 days.
🏘️ 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 $674,468 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 $650,544 or less.
