Here’s a look at the Sarasota & Manatee Counties’ Real Estate Market for March 2020. According to statistics from the REALTOR® Association of Sarasota and Manatee, the number of new pending sales increased in both counties when compared year-over-year. Read more about this month’s real estate market trends.

📈 A Look at Sarasota County Housing Stats

March began with a median sale price for single-family homes of $304,000 in Sarasota County. This amount shows an increase of 5.9 percent from the $287,000 recorded this same time last year. The average sale price is $420,802, which is up 5.7 percent from the $397,980 in March 2019. We are seeing an increase from last month’s $410,249.

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There were 618 closed sales in February 2020, which shows an increase of 4.2 percent from the 593 closed sales in February 2019. We moved into March with 2,667 active listings in Sarasota County. This number shows a drop of 25.5 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 March with a median sale price for single-family homes of $325,000. This amount shows an increase of 8.9 percent from the $298,500 recorded this same time last year. The average sale price is $407,940, which is up 4.8 percent from the $389,119 recorded last year.

There were 475 closed sales in February 2020, which shows an increase of 2.8 percent from the 462 closed sales in February 2019. We moved into March with 1,934 active listings in Manatee County. This number shows a drop of 19.2 percent from this time last year.

There’s a 3.4 months supply of available homes in Manatee County. This number is down 24.4 percent from last year’s 4.5 months supply.

🏠 Condo and Townhouse Details

In Sarasota County, the average sale price for condos and townhouses is $433,473. This number shows an increase of 16.2 percent from the $373,070 recorded this time last year.

The average sale price for condos and townhouses in Manatee County is $245,303. Compared to the $227,849 recorded in March 2019, we’re seeing an increase of 7.7 percent.

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Sarasota County reports 539 new listings, which is an increase of 0.2 percent from last year’s 538 new listings. Manatee County recorded 357 new listings, which is a 1.1 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 increased by 0.5 percent with 974 new properties placed on the market in February 2020. There were 730 new listings to hit the market in Manatee County, which shows an increase of 1.7 percent from this same time last year.

Suggested Reading: Should I Buy a Home During the Coronavirus Pandemic?

The number of cash sales in Sarasota County last month was 237, which is about the same as this time last year. The number of cash sales in Manatee County was 153, which is 22.4 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 96.3 percent, which is an increase of 1.5 percent from last year at this time. Manatee County is recording 96.2 percent received, which is an increase of 0.3 percent from March 2019.

Sarasota County‘s median time to sale is currently 82 days, with the median time to contract at 37 days. Manatee County is reporting a median time to sale of 90 days and a median time to contract of 47 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 $420,802 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 $407,940 or less.

Summary
Sarasota & Manatee Counties Real Estate Market Report - March 2020
Article Name
Sarasota & Manatee Counties Real Estate Market Report - March 2020
Description
The average sale price for homes in Sarasota County is $420,802. Manatee County's average sale price is $407,940. See more real estate market stats here!
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Brock Realty Inc
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