RASM Releases Latest Report, Condos Hit New Sales Record



According to a report from the Realtor Association of Sarasota and Manatee, 2018 reports more closed sales, an increase in overall inventory and a rise in median prices in Sarasota and Manatee counties. Condo sales outperformed single-family homes, reaching new records in closed sales. The two counties reported a combined total of 21,344 closed sales in 2018, a 6.7 percent increase from 2017. In Manatee County, single-family homes increased by 7 percent to 6,485 closed sales, while Sarasota sales increased by 0.5 percent to 7,952 closed sales.

Condo market sales increased year-over-year, with both counties reporting the highest recorded number of sales over the last ten years. Sarasota condos increased by 8.1 percent from 2017 to 4,150 closed sales. Manatee condo sales increased by 11.1 percent to 2,757 sales. The overall volume of sales for Sarasota single-family homes increased by 5.1 percent to $3.1 billion, while Manatee increased by 11 percent to $2.5 billion. As for condos, Sarasota sales volume increased by 6.7 percent to $1.5 billion, while Manatee County increased by 18.7 percent to $643.2 million. For more information and related statistics, visit the RASM website below.

Realtor Association of Sarasota and Manatee

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