Here’s a look at the Sarasota & Manatee Counties’ Real Estate Market for November 2020. According to statistics from the REALTOR® Association of Sarasota and Manatee, median and average home prices are up in both counties when compared to last year’s numbers. Read more about this month’s real estate market trends.

📈 A Look at Sarasota County Housing Stats

November began with a median sale price for single-family homes of $345,000 in Sarasota County. This amount shows an increase of 20.2 percent from the $287,000 recorded this same time last year. The average sale price is $494,250, which is up 27.4 percent from the $387,925 in November 2019. We are seeing an increase from last month’s $448,619.

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There were 929 closed sales in October 2020, which shows an increase of 30.1 percent from the 714 closed sales in October 2019. We moved into November with 1,496 active listings in Sarasota County. This number shows a drop of 40 percent from this time last year.

There’s a 2 months supply of available homes in Sarasota County. Last year at this time there was a 3.5 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 in November with a median sale price for single-family homes of $360,000. This amount shows an increase of 10.4 percent from the $326,000 recorded this same time last year. The average sale price is $481,349, which is up 20.7 percent from the $398,895 recorded last year.

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There were 766 closed sales in October 2020, which shows an increase of 48.4 percent from the 516 closed sales in October 2019. We moved into November with 1,063 active listings in Manatee County. This number shows a drop of 42.4 percent from this time last year.

There’s a 1.8 months supply of available homes in Manatee County. This number is down 45.5 percent from last year’s 3.3 months supply.

🏠 Condo and Townhouse Details

In Sarasota County, the average sale price for condos and townhouses is $393,771. This number shows a significant increase of 33.5 percent from the $294,893 recorded this time last year.

The average sale price for condos and townhouses in Manatee County is $294,595. Compared to the $260,270 recorded in November 2019, we’re seeing an increase of 13.2 percent.

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Sarasota County reports 472 new listings, which is a drop of 7.5 percent from last year’s 510 new listings. Manatee County recorded 319 new listings, which is a 6.7 percent decrease from last year’s 299 new listings during October.

📱 Contact Brock Realty Inc.

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💲 What does this mean for home buyers?

New listings in Sarasota County increased by 11.4 percent with 1,009 new properties placed on the market in November 2020. There were 775 new listings to hit the market in Manatee County, which shows an increase of 11.8 percent from this same time last year.

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The number of cash sales in Sarasota County last month was 290, which is up 16.9 percent from last year’s 248. The number of cash sales in Manatee County was 212, which is an amazing 53.6 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 97.8 percent, which is an increase of 2.1 percent from last year at this time. Manatee County is recording 98.2 percent received, which is an increase of 1.9 percent from November 2019.

Sarasota County‘s median time to sale is currently 69 days, with the median time to contract at 21 days. Manatee County is reporting a median time to sale of 66 days and a median time to contract of 18 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 $494,250 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 $481,349 or less.

Summary
Sarasota & Manatee Counties Real Estate Market Report - November 2020
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Sarasota & Manatee Counties Real Estate Market Report - November 2020
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The average sale price for homes in Sarasota County is $494,250. Manatee County's average sale price is $481,349.
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Brock Realty Inc
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