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About Sarasota


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Sarasota – Lakewood Ranch - Bradenton  FL – Sarasota and Manatee County Rank High in Qualify of Life and Health One of my favorite things to do is basically anything OUTDOORS! I love Golf, Boating ...
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The Beach at Sunset Sunsets on the west coast of Florida are breathtaking! What is your favorite sunset beach?  I actually have two: Anna Maria Island in Manatee County just north of Sarasota and Lido ...
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Area Reports

Click HERE to download and review the full statistical report.

SARASOTA, Fla. (May 24, 2017) – According to the recent numbers compiled by Florida REALTORS® from My Florida Regional MLS, April 2017 reflects an increase in single family closed sales, median sales prices and inventory in Sarasota and Manatee County as compared to April of 2016.

Closed sales in Sarasota County increased by 8.3 percent for single family homes, while Manatee County experienced a 1.5 percent increase. Condos, however, decreased in sales in the month of April. Sarasota condo sales decreased by 0.3 percent this month and Manatee decreased by 22 percent.

Median prices of Sarasota County single family homes increased by 9 percent to $272,500, while condos decreased by 1.4 percent to $215,000. Single family homes in Manatee County increased in median price by 5.4 percent to $295,000, while condos in Manatee increased by 2.1 percent to $170,500.

The number of properties that were put on the market during April decreased in both counties from last month, a good indication of the end of the season.

“This year’s season started slow in January, but picked up steam in February and March, levelling out again in April,” said Xena Vallone, 2017 RASM President.

When looking at the total inventory in the two-county area, there is a 9.3 percent increase of active listings from this time in 2016, but inventory continues to be very tight, especially in lower price ranges. In Sarasota County, the inventory of single family homes increased 12.3 percent and condos by 12 percent. Single family homes in Manatee County increased by 3.6 percent, while condos increased by 9.7 percent.

In April 2017, we saw an increase in time to contract over last year in both counties. Sarasota single family homes increased to 45 days on market, up from 35 last year, and the time for condos increased to 46 days, also up from 35 days a year ago. In Manatee County, time on market for single family homes increased to 46 days from 38 last year, while condos rose from 33 days last year to 50 days on market this year.

“Higher inventory levels typically increase the time it takes to sell a property,” said Vallone. “However, that is not the case for more affordable price points. Single family homes priced under $300,000 are going to contract more quickly than those priced higher, but we aren’t seeing the same thing in the condo market.”

The month’s supply of inventory in the two-county area is in the range of 4.4 to 5.5 months’ inventory, continuing to improve year-over-year. This statistic reflects the time it would take to sell all the active listings on the market at the current rate of sales. The current supply favors the seller over the buyer overall, but not in all price ranges, as indicated above.

According to the National Association of REALTOR®’s Midyear Forecast, supply, affordability and modest economic growth are holding back sales and threatening the nation’s low homeownership. However, chief economist Lawrence Yun believes existing-home sales are poised to climb 3.5 percent in 2017.

“The housing market has exceeded expectations ever since the election, despite depressed inventory and higher mortgage rates,” said Yun. “The combination of the stock market being at record highs, 16 million new jobs created since 2010, pent-up household formation and rising consumer confidence are giving more households the assurance and ability to purchase a home.”

Editor’s Note: For comprehensive statistics dating back to 2005, visit www.MyRASM.com/statistics.

By Gina White | May 24th, 2017 |RASM News

 

Realtor Association of Sarasota and Manatee

FOR IMMEDIATE RELEASE

Realtor® Association of Sarasota and Manatee Contact: Kathy Roberts
(941) 952-3403 kathy@MyRASM.com

Season Off to Solid Start in Sarasota and Manatee

SARASOTA, Fla. (February 22, 2017) – Recent data produced by Florida REALTORS® for our two-county area indicates January 2017 to be off to a solid start to this season’s sales.

Inventory has been increasing in the two-county area each month since September. The result of higher inventory is that we are very near the balance between a seller’s and a buyer’s market. January also saw an increase in both year over year and month over month in the number of properties that went under contract during the month.

Inventory in the two-county area increased by 17.9 percent over January of last year. Sarasota condo inventory increased by 27.1 percent, while single family was up 20.8 percent. In Manatee County, condos were up by 11.4 percent and single family by 10.9 percent.

New pending sales in the month increased. The combined county pending sales reflect an 8 percent increase from January of 2016.

“The increased inventory is easing the supply and demand pressure and giving buyers more choices,” says Xena Vallone, 2017 RASM President. “The increase in pending sales is a good indication of future closed sales.”

Median prices for Sarasota single family homes increased to $250,000, while Manatee single family increased to $279,000. With fewer homes available to purchase below $200,000, largely because of the decline of distressed properties available for purchase, we can expect median prices to continue to rise. Condo median sales prices rose to $239,900 in Sarasota and to $175,000 in Manatee.

Closed sales in the two-county area are up by 11.6 percent from January 2016 for condos. Meanwhile, single family home sales in Sarasota and Manatee showed an 8.2 percent decrease. Collectively, distressed sales experienced a 51.8 percent decrease from last year, while traditional sales (non-distressed) experienced an increase of 3.5 percent, making a healthier market.

The months’ supply of inventory indicates a more balanced market, with an increase across the board. Sarasota condos are at a 5.9-month supply, surpassing the threshold of a balanced market at 5.5 months, while single family homes are at a 5-month supply. Manatee County condos are at a 4.8-month supply and single family at a 4.5-month supply of condos.

“A balanced market is driven by supply and demand and favors neither the seller nor the buyer,” says Vallone. “If the market is strong and balanced, buyers have more choices and sellers have a larger pool of buyers.”

Editor’s Note: For comprehensive statistics dating back to 2005, visit www.MyRASM.com/statistics.

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About Realtor® Association of Sarasota and Manatee
The Realtor® Association of Sarasota and Manatee (RASM) was formed on January 1, 2015 with the merger of the Sarasota Association of Realtors® and the Manatee Association of Realtors®, two long-standing real estate trade associations with a century of histories in the region. The organization exists to serve its members, business partners and advocates for real estate efforts in the community. Realtors® subscribe to a strict code of ethics and have access to numerous services and programs to enhance their professionalism. Educational programs and seminars help members gain new skills and professional designations as well as providing opportunities for networking and making a difference in the world of real estate.

If you want to know what is happening in the Sarasota – Lakewood Ranch – Bradenton Real Estate Market, read the Annual Report by the Realtor Association of Sarasota and Manatee!

Inventory and Median Sales Prices Continue to Climb

SARASOTA, Fla. (May 20, 2016) – April’s housing statistics show that our current trend is continuing as
inventory of available properties rose in both counties. For single family homes in Sarasota County,
inventory is up 8 percent from April last year, and up 14.2 percent in Manatee County from last year.
Condo inventory is also on the rise in Sarasota County, up 25.5 percent from last year, while Manatee
County experienced a 19.8 percent increase year-over-year.

The months’ supply of inventory in the two-county area remains in the range of 4.5 to 5.4 months’
inventory this year, compared to a range of 4.2 to 4.5 months at this time last year. This statistic reflects
the time it would take to sell all the active listings on the market at the current month’s rate of sales. Six
months is traditionally considered the benchmark for a balanced market; anything higher is considered a
buyer’s market and anything lower is a seller’s market. So while the months’ supply is on the rise, it is
still a seller’s market. However, the rise in inventory is very encouraging sign that we are returning to a
balanced market.

“We continue to see an inventory increase in our area, which is great because there are more options for
our homebuyers,” said Linda Formella, RASM President. “Homes priced at $300,000 and under continue
to sell at a quick pace, and this trend is likely to continue. There is a high demand for quality, affordable
housing. In the upper end of the market we are seeing an extended buying season in our two-county area,
with 80 properties closed in April with prices of $1 million plus, significantly higher than last year.”
The median sale price rose year-over-year across the board for both counties. Single family median sales
prices are up 12.6 percent in Sarasota County to $250,000, while Manatee County experienced an 8.9
percent to $279,300. Sarasota County condo median price rose 13.9 percent to $218,000, and Manatee
County likewise witnessed a significant increase of 14.1 percent in condo sales price over last year, to
$165,500.

Total single family closed sales in Sarasota County reached 733 for the month of April, down only 4.2
percent from last month and down 7.3 percent from last year. Manatee County single family homes sales
rose 2.3 percent from last month to 534 total sales, but down slightly, just under 1 percent, from April last
year. Condo sales fluctuated, with Manatee County up 12.1 percent from both last month and also last
year. Sarasota County increased 4.9 percent increase from last month, but was down 11.8 percent from
last year’s figures at this time.

The total number of closed distressed property sales (foreclosures and short sales) in April this year was
63.7 percent lower than last April. That significant drop is a great sign of a healthy market. Distressed
sales for single family homes in the two-county area represented only 7.58 percent of all closed sales for
the month, compared to 19.7 percent last year. Similarly, distressed condo sales represented 2.62 percent
of closed sales, compared to 7.37 percent last year. At their peak a few years ago, 48 percent of all sales
were distressed.

From the April Report of The Realtor® Association of Sarasota and Manatee (RASM).

Editor’s Note: For comprehensive statistics dating back to 2005, visit www.MyRASM.com/statistics.

 

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