Lately, we are receiving more and more inquiries from people interested in investing in Sarasota and Manatee County homes.
Why? In addition to this area being a wonderful place to live, a lot of residents are reacting to a recent climb in home prices.
In other words, these buyers are trying to take advantage of the near-record low prices before they continue to climb.
Today, I am going to give all you prospective home buyers a recent overview of real estate activity.
Real Estate Activity You Should Know About in Sarasota and Manatee Counties
Here is a brief overview of the current state of the market, according to local statistics:
- Median single-family home sale prices increased to $210,000 in August.
- Meanwhile, year-over-year sales increased by 7%.
- In terms of condominiums, the median sales price was $145,000, up 7.4% year-over-year.
- Statewide closed sales of existing single-family homes totaled 20,933 in August, which is an increase of 12.5% when compared to the year before.
- Closed sales typically occur 30 to 90 days after sales contracts are written.
- Experts are now saying this is the 20th straight month for gains.
- Meanwhile, pending sales for existing single-family homes last month increase 17.2% over the previous August.
- The statewide median sales price for existing single-family homes last month was $175,000, up 18,6% from the year before.
- Across Florida, a total of 9,491 condominium units sold in August, up 6.3% from August 2012.
- Pending sales for townhouse-condos increased 11.6% in August compared to the year before.
- The statewide median price for townhouse-condo properties was $130,000, an increase of 25.2% from the previous year.
- In Manatee-Sarasota, the median price for townhouse-condos was $145,000, up 7.4% from August 2012.
- There were 507 closed sales in August, up 17.9% from the same month last year.
- The statewide inventory for single-family homes was at a 5.1 month’s supply in August. Meanwhile, inventory for townhouse-condos was at a 5.2 month supply.
Buying and Selling Manatee-Sarasota Area Real Estate in Florida
You may be thinking, that’s great, but how will this affect me? The activity on the market suggests that the market may be stabilizing as the number of new listings has helped to balance out all of the homes for sale that are going to closing.
And anytime a market becomes more stable and balanced, it is great news for both buyers and sellers!
If you’re considering entering the market anytime soon as a buyer or seller, please make sure to contact me, Dennis Kotaska, today! I’ll be happy to assist you with all of your real estate needs by offering you valuable advice as well as useful resources!
Have a great day!