RASM Reports Rising Home Prices, Challenging Inventory

Business

According to the Realtor Association of Sarasota and Manatee, in April 2018, Sarasota and Manatee housing inventory levels dropped again, with pressure from rising median sales prices. Overall, April showed an increase in sales across the two counties, as well as an increase in new listings. April reported 2,014 total sales which is a 3.3 percent increase from last year. Sarasota condo sales increased by 17.8 percent and Manatee condo sales increased by 2.5 percent. As for single-family homes, Manatee sales increased by 5.8 percent, while Sarasota decreased by 5.3 percent. Overall, inventory is down compared to this time last year. For single-family homes, the number of properties listed decreased by 10.3 percent. As for condos, inventory decreased by 8.9 percent in the two-county area. Median sales prices continue to rise in Sarasota and Manatee. Manatee single-family home prices increased by 5.4 percent to $311,000 and Sarasota increased by 4.6 percent to $285,000. Condo median prices in Sarasota increased by 9.3 percent to $235,000 and Manatee increased by 23.1 percent to $209,950. For more information, follow the link below.

Realtor Association of Sarasota and Manatee

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