Pandemic or not, home sales increased in June in Bradenton area. Prices were up, too
Single-family home sales in the Bradenton area regained their pre-pandemic form in June, with the number of sales and the median selling price exceeding those numbers from the same month a year ago.
In Manatee County, there were 668 sales of existing single-family homes in June, compared to 623 a year ago. The median price increased to $325,000, compared to $315,000 a year ago, according to the Realtor Association of Sarasota and Manatee.
Manatee County townhouse and condo sales also showed improvement in June, compared to a year ago. In June, there were 250 sales, compared to 244 a year ago. The median price increased to $214,230, compared to $199,000 a year earlier.
In Sarasota County, the number of existing single-family home sales declined to 222, compared to 261 a year earlier. The median price increased to $305,000, versus $290,000 in June a year ago.
Sarasota condo sales were down slightly as well: 334 versus 344 a year ago. The median price rose to $249,900 in June, compared to $234,000 a year earlier.
The two counties have long been sellers’ markets. In June, Manatee County reported 665 new single-family home listings, compared to 599 a year earlier. More condos came on the market in June, too: 260, versus 218 a year earlier.
Sarasota County saw 716 new single-family home listings in June, compared to 729 a year earlier. Sarasota condo listings, however, were up sharply: 454 compared to 299 a year earlier.
“What is becoming apparent to us now is that our stalled seasonal buying market of the winter has shifted into summer,” David Clapp, 2020 Realtor association president, said in a press release. “We continue to see a high demand from buyers and week-over-week sales continue to outpace this year’s pre-COVID-19 numbers, while home values stay on the rise.”
Miranda Oswald, a real estate agent and broker at Keller Williams on the Water, said she is seeing a trend from buyers to move from cities in the Northeast, particularly New Jersey and Massachusetts, to less congested areas like Bradenton-Sarasota.
“June was definitely busier than May, and May was busier than April,” Oswald said of the existing home sales market recovery from the pandemic.
“Not only are the interest rates incredible, investors are putting their money into a commodity that can’t disappear,” she said in reference to stock market volatility.
The increased market activity is in contrast to several months ago when many homeowners took their property off the market out of concern that showing their home could increase the risk of contracting COVID-19.
“Now is the time to sell with a Realtor who can ensure safe marketing and showings of your home in a COVID-19 environment. There’s a high demand from buyers, interest rates are at their lowest levels in years, and prices continue to remain very strong,” Clapp said.
For a balanced market, favoring neither buyer nor seller, a six-month supply of single-family homes is needed. Manatee remained a sellers market with a 2.6-months supply, as does Sarasota County with a 2.7-months supply.
