Is Manatee’s housing market balanced? Latest housing report has updates
The Manatee and Sarasota housing market continues to see an increase toward balance between buyers and sellers, according to a recent housing report.
The Realtor Association of Sarasota and Manatee’s August report said there is stability in the single-family home sector between the two counties. Median sale prices for single-family homes in Manatee County dropped 5.3% year-over-year to $467,640, according to a news release.
In August, Manatee County had 650 single-family homes sold, marking a 5.7% increase compared to the previous year.
There is a 4.6-month supply of inventory with 2,814 active listings for Manatee County, the news release said.
The median time to contract and median time to sale decreased from the previous month to 53 days and 101 days, respectively, the news release said.
“Inventory has been building over the past year, giving buyers more options, but we’ve started to see a gradual softening over the past few months,” RASM president Debi Reynolds said in the news release. “This points to a more balanced market where realistic pricing, and strong negotiation strategies are essential.”
Townhomes and condo prices dropping
Manatee County townhome and condos had a 7% decrease in sales year-over-year, with the median sale price falling 11.7% to $291,250. Inventory levels increased 9.4% compared to August 2024 with 1,396 active listings. The monthly inventory supply is 6.4 months. The median time to contract and median time to sale increased from the previous month to 78 days and 120 days, respectively, the report said.
“Condos are taking longer to close, with time to sale exceeding four months in many cases,” Reynolds said in the news release.
What’s the Sarasota housing market looking like?
In Sarasota County, there was a 1.3% increase in single-family sales with a median sale price of $475,000. That is the same median sale price from August 2024. The monthly supply is 5.2 months, which is a 13.8% increase year-over-year.
The median time to contract was 69 days and the median time to sale was 109 days.
For townhomes and condos, the median sale price dropped 13% to $300,000, though the 247 townhome and condos sold marked a 13.8% increased compared to August 2024.
The monthly inventory supply for townhomes and condos in Sarasota County is 7 months. The median time to contract is 87 days, while the median time to sale is 132 days.
