RASM Reports Slow and Steady Market Growth in Sarasota and Manatee

Business

SRQ DAILY MONDAY BUSINESS EDITION MONDAY OCT 22, 2018

When Hurricane Irma made its path toward Sarasota and Manatee County in September 2017, sales stalled in both counties due to limited business days surrounding the storm. After last year’s irregular report, this September showed significant improvement in new listings, pending sales and overall closed sales. Compared to last year, combined closed sales in the two-county area are up by 7.6 percent. The condo market improved with a 7.5 percent increase in Sarasota sales and a 12.5 percent increase in Manatee County. As for single-family homes, Sarasota sales increased by 3.6 percent and Manatee sales increased by 10.7 percent. More properties went under contract this month, compared to last year’s stall, with a 31.8 percent combined increase. Condo pending sales in Sarasota county increased by 40.5 percent, while Sarasota single-family homes increased by 28.8 percent. In Manatee County, condo pending sales increased by 32.8 percent, while single-family homes increased by 39.9 percent. As for new listings, the combined totals increased from last year by 36.5 percent. Notably, median prices continue to rise. Inventory is up by 2.7 percent, compared to last year’s two-county area totals.

According to current month’s supply of inventory, the market continues to favor the seller, according to RASM. Monthly reports are provided by Florida REALTORS® with data compiled from My Florida Regional Multiple Listing Service. For comprehensive statistics dating back to 2005, visit the website below.

Realtor Association of Sarasota and Manatee Statistics

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