Here’s a look at the Sarasota & Manatee Counties’ Real Estate Market for May 2020. According to statistics from the REALTOR® Association of Sarasota and Manatee, the market is taking a hit in both counties as we experience the Coronavirus pandemic on a local level. Read more about this month’s real estate market trends.
📈 A Look at Sarasota County Housing Stats
May began with a median sale price for single-family homes of $313,250 in Sarasota County. This amount shows an increase of 8 percent from the $290,000 recorded this same time last year. The average sale price is $435,531, which is up 4.3 percent from the $417,774 in May 2019. We are seeing a substantial decrease from last month’s $414,374.
There were 632 closed sales in April 2020, which shows a decrease of 20.3 percent from the 793 closed sales in April 2019. We moved into May with 2,532 active listings in Sarasota County. This number shows a drop of 23.6 percent from this time last year.
📊 A Look at Manatee County Housing Stats
Manatee County started May with a median sale price for single-family homes of $340,000. This amount shows an increase of 7.9 percent from the $315,000 recorded this same time last year. The average sale price is $406,699, which is up 4.1 percent from the $390,612 recorded last year.
There were 499 closed sales in April 2020, which shows a decrease of 21.2 percent from the 633 closed sales in April 2019. We moved into May with 1,851 active listings in Manatee County. This number shows a drop of 15.6 percent from this time last year.
🏠 Condo and Townhouse Details
In Sarasota County, the average sale price for condos and townhouses is $333,107. This number shows a decrease of 4.7 percent from the $349,550 recorded this time last year.
The average sale price for condos and townhouses in Manatee County is $236,764. Compared to the $236,127 recorded in May 2019, we’re seeing an increase of 0.3 percent.
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💲 What does this mean for home buyers?
New listings in Sarasota County decreased by 34 percent with 550 new properties placed on the market in April 2020. There were 457 new listings to hit the market in Manatee County, which shows a decrease of 30.4 percent from this same time last year.
The number of cash sales in Sarasota County last month was 199, which is down 32.1 percent from last year’s 293. The number of cash sales in Manatee County was 120, which is 32.2 percent lower 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 96.5 percent, which is an increase of 2.2 percent from last year at this time. Manatee County is recording 97.2 percent received, which is an increase of 1.3 percent from May 2019.
Sarasota County‘s median time to sale is currently 77 days, with the median time to contract at 33 days. Manatee County is reporting a median time to sale of 73 days and a median time to contract of 26 days.
🏘️ Sarasota County Homes for Sale
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 $435,531 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 $406,699 or less.