More homes are being sold in Bradenton than in 2022 as Sarasota market slows
Home sales in Manatee County and Sarasota County went in two different directions in June.
The Bradenton area had 17.7% more sales during the month with 759 existing single-family homes changing hands, compared to 645 a year ago, the Realtor Association of Sarasota and Manatee reported Thursday.
Year-to-year, the median price for existing single-family homes in the Bradenton area fell 4.5% from $550,000 to $525,000.
It was a different picture in Sarasota County, where sales fell 4.1% from 802 homes a year ago to 769 this year. The Sarasota median price was up 4.5% from $500,000 a year ago to $522,500 this June.
“The residential market in Manatee County continues to thrive with two back-to-back months of increased sales over the last year, indicating strong buyer activity and market resilience,” Brian Tresidder, Realtor association president, said in a press release.
The 803 homes sold in the Bradenton area in May was the most in any month since June 2021.
“The real estate market in Sarasota County remains dynamic, with single-family sales experiencing a decline compared to 2022. Nevertheless, June sales point to more balance, slowly narrowing the gap with last year’s figures and reaffirming the region’s market strength,” Tresidder said.
In both counties, homes are taking longer to sell than a year ago, and inventory has improved, although firmly remaining a seller’s market.
In June, Bradenton-area homes went to contract in a median 37 days, compared to six days a year ago. In Sarasota County, homes went to contract in a median 23 days, compared to seven days a year ago.
The Bradenton area had 2.8 months of inventory in June, versus an 1.8-month supply a year ago.
In Sarasota, there was a 3.2-month inventory of homes, compared to 1.7-months supply a year ago.
“With a home supply of around three months, our market continues with more favorable conditions for sellers than for buyers,” Tresidder said.
“The decline in new listings within the two counties further contributes to the prevalence of a seller’s market. It is typical for our area to see a decline in new listings around this time of year before the market experiences more activity heading into fall and further into spring,” he said.
Townhouses and condos
Manatee County saw a 12.1% increase in existing townhouse and condo sales in June when 297 were sold, compared to 265 units a year earlier.
The median price increased 3.8% from $356,000 a year ago to $370,000 in June. The month’s supply rose from 1.5 months to 3.4 months.
The median time to contract in Manatee County was 34 days, compared to seven days a year ago.
Sarasota County saw a 1.3% increase in existing townhouse and condo sales in June when 381 units sold, compared to 376 a year earlier. The median price for condos and townhouses in Sarasota fell 6.3% from $416,250 a year ago to $390,000 in June.
The median time to contract in Sarasota was 35 days, compared to seven days a year ago.
For more information on home sales in the Bradenton-Sarasota area, visit www.MyRASM.com/statistics.
