RASM Reports Stable Market Going Into Season

Business

SRQ DAILY FRIDAY WEEKEND EDITION FRIDAY NOV 23, 2018

The Realtor Association of Sarasota and Manatee has released its findings, incorporating recent data from October reports. Compared to last year, the Sarasota and Manatee County market statistics report more closed sales, inventory and a general rise in median prices in October 2018. Year-over-year, combined closed sales in the two-county area increased by 8 percent. The condo market improved with a 27.3 percent increase in Manatee County and a 10.3 percent increase in Sarasota. Manatee single-family home sales increased by 14 percent, while Sarasota single-family home sales decreased by 2.1 percent. In Manatee County, pending sales for single-family homes increased by 2.8 percent, while condos decreased by 3.6 percent. Pending sales in Sarasota County decreased by 4.7 percent for condos and by 6.3 percent for single-family homes. Median prices for Manatee single-family homes increased by 4.2 percent to $298,000, while Sarasota decreased by 3.2 percent to $270,000. Condo prices in Sarasota increased by 4.4 percent to $233,745 and Manatee decreased by 1.9 percent to $191,250. Aside from a decrease in the Manatee condo market, new listings increased year-over-year. Inventory is up by 6.1 percent, compared to last year’s two-county area totals. More information can be found at the link below.

Realtor Association of Sarasota and Manatee

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