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

๐Ÿ“ˆ A Look at Sarasota County Housing Stats

March 2023 began with a median sale price for single-family homes of $495,000 in Sarasota County. This amount shows an increase of 10 percent from the $449,900 recorded at this same time last year. The average sale price is $657,973, which is up 4.1 percent from the $632,075 in March 2022. We are seeing a decrease from last month’s $674,468.

Real Estate Market Jan 2023

There were 520 closed sales in February 2023, which shows a decrease of 24.7 percent from the 691 closed sales in February 2022. We moved into March with 1,793 active listings in Sarasota County. This number shows a rise of 264.4 percent from this time last year.

Thereโ€™s a 2.9-month supply of available homes in Sarasota County. Last year at this time there was a 0.8-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 March 2023 with a median sale price for single-family homes of $490,000. This amount shows a decrease of 7.7 percent from the $478,000 recorded at this same time last year. The average sale price is $639,562, which is down 7.7 percent from the $693,229 recorded last year. This month’s average price is up from last month’s $638,055.

Real Estate Market Jan 2023 2

There were 503 closed sales in February 2023, which shows a decrease of 10 percent from the 559 closed sales in February 2022. We moved into March with 1,732 active listings in Manatee County. This number shows an increase of 318.4 percent from this time last year.

Thereโ€™s a 3.1-month supply of available homes in Manatee County. This number is up 416.7 percent from last year’s 0.6-month supply.

๐Ÿ  Condo and Townhouse Details

In Sarasota County, the average sale price for condos and townhouses is $690,995. This number shows an increase of 25.3 percent from the $551,588 recorded this time last year.

Real Estate Market Jan 2023 3

The average sale price for condos and townhouses in Manatee County is $435,748. Compared to the $394,151 recorded in March 2022, weโ€™re seeing an increase of 17.3 percent.

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Sarasota County reports 533 new listings, which is an increase of 16.1 percent from last yearโ€™s 459 new listings. Manatee County recorded 342 new listings, which is a 0.4 percent rise from last year’s 298 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 8.1 percent with 852 new properties placed on the market in February 2023. There were 677 new listings to hit the market in Manatee County, which shows a drop of 6.4 percent from last year.

Real Estate Market Jan 2023 4

The number of cash sales in Sarasota County last month was 233, which is down 32.7 percent from last year’s 346. The number of cash sales in Manatee County was 174, which is 20.5 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 percent, which shows a decrease of 4 percent from last year’s 100%. Manatee County is recording 95.6 percent received, which shows a decrease of 4.4 percent from March 2022.

Real Estate Market Jan 2023 5

Sarasota Countyโ€˜s median time to sale is currently 63 days, with the median time to contract at 21 days. Manatee County is reporting a median time to sale of 88 days and a median time to contract of 39 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 $657,973 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 $639,562 or less.

Summary
Sarasota & Manatee Counties Real Estate Market Report - March 2023
Article Name
Sarasota & Manatee Counties Real Estate Market Report - March 2023
Description
The average sale price for homes in Sarasota County is $657,973. Manatee County's average sale price is $639,562.
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Brock Realty Inc
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