New Bradenton-Sarasota housing market data is out. Take a look at prices, sales
Sales of existing single-family houses in the Bradenton area were down steeply in December from the same month a year ago, while prices were up substantially.
Closed sales in Manatee County were down 30% from a year ago — 537 sales compared to 764 — while prices were up 10% to $507,000, the Realtor Association of Sarasota and Manatee reported.
In Sarasota, the sales of existing single-family homes were down 42% and the median price was up 16% to $505,500.
Condo and townhouse sales followed a similar pattern. In the Bradenton area, they were down 24% while the median price was up 14% to $344,475.
In Sarasota County, condo and townhouse sales were down 33% while the median price rose 8% to $390,000.
The median time to contract also was taking longer: 27 days in the Bradenton area for single-family houses, compared to six days a year ago.
In Sarasota, the median time to contract was 23 days for single-family houses, compared to eight days a year ago.
The number of single-family homes on the market was up sharply: 1,755 listings compared to 456 a year ago in the Bradenton area and 1,682 homes in Sarasota compared to 568 a year ago.
Even so, the two-county area firmly remains a sellers market.
Looking back on 2022, Brian Tresidder, president of the Realtor association, said the words “shift” and ”change” come to mind.
“The year started off just as hot as the previous two years and that led to some of our lowest inventory numbers on record,” Tresidder said in a press release.
“The lack of homes for sale, rising interest rates, and rising inflation created significant decreases in the volume and number of properties sold in 2022, but home value continued to increase.
“We saw a significant increase in listings and the months’ supply of inventory by the end of the year, though the market is still considered a seller’s market with less than three months of inventory,” he said.
