Hereโ€™s a look at the Sarasota & Manatee Countiesโ€™ Real Estate Market for October 2022. According to statistics from the REALTORยฎ Association of Sarasota and Manatee, both counties are showing an increase in active listings compared to this same time last year. Read more about this monthโ€™s real estate market trends.

๐Ÿ“ˆ A Look at Sarasota County Housing Stats

October 2022 began with a median sale price for single-family homes of $497,275 in Sarasota County. This amount shows an increase of 22.2 percent from the $407,000 recorded at this same time last year. The average sale price is $679,035, which is up 29.4 percent from the $524,901 in October 2021. We are seeing an increase from last month’s $675,808.

market report 2

There were 458 closed sales in September 2022, which shows a decrease of 45.1 percent from the 835 closed sales in September 2021. We moved into October with 1,591 active listings in Sarasota County. This number shows a rise of 106.4 percent from this time last year.

Thereโ€™s a 2.1-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 October 2022 with a median sale price for single-family homes of $517,193. This amount shows an increase of 20.3 percent from the $430,000 recorded at this same time last year. The average sale price is $624,142, which is up 7.6 percent from the $580,073 recorded last year. This month’s average price is down from last month’s $655,261.

real estate market 2

There were 422 closed sales in September 2022, which shows a decrease of 37.5 percent from the 675 closed sales in September 2021. We moved into October with 1,667 active listings in Manatee County. This number shows an increase of 187.9 percent from this time last year.

Thereโ€™s a 2.7-month supply of available homes in Manatee County. This number is up 187.9 percent from last year’s 0.8-month supply.

๐Ÿ  Condo and Townhouse Details

In Sarasota County, the average sale price for condos and townhouses is $607,711. This number shows an increase of 17.8 percent from the $515,753 recorded this time last year.

market report condos

The average sale price for condos and townhouses in Manatee County is $401,183. Compared to the $321,810 recorded in October 2021, weโ€™re seeing an increase of 24.7 percent.

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Sarasota County reports 244 new listings, which is a decrease of 33 percent from last yearโ€™s 364 new listings. Manatee County recorded 225 new listings, which is a 14.8 percent drop from last year’s 264 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 decreased by 32.4 percent with 608 new properties placed on the market in September 2022. There were 617 new listings to hit the market in Manatee County, which shows a drop of 8.6 percent from last year.

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

buying a house

The number of cash sales in Sarasota County last month was 194, which is down 48.4 percent from last year’s 376. The number of cash sales in Manatee County was 141, which is 47.2 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 95.8 percent, which shows a decrease of 4.2 percent from last year’s 100%. Manatee County is recording 96.6 percent received, which shows a decrease of 3.4 percent from October 2021.

Sarasota Countyโ€˜s median time to sale is currently 61 days, with the median time to contract at 20 days. Manatee County is reporting a median time to sale of 62 days and a median time to contract of 19 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 $679,035 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 $624,142 or less.

Summary
Sarasota & Manatee Counties Real Estate Market Report - October 2022
Article Name
Sarasota & Manatee Counties Real Estate Market Report - October 2022
Description
The average sale price for homes in Sarasota County is $679,035. Manatee County's average sale price is $624,142.
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Brock Realty Inc
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