According to a new report from Florida Realtors, the Sarasota and Manatee housing market experienced an increase in sales and a decrease in inventory in January 2020. Closed sales in Sarasota and Manatee totaled 1,539 in January 2020, a 32.4 percent increase from the same month in 2019. In Sarasota, single-family closed sales increased by 22.8 percent to 565 sales; Manatee sales increased by 22.4 percent to 410 sales. Condo sales increased by 57.8 percent, to 344 sales in Sarasota, and by 47.7 percent to 220 in Manatee. Cash sales also continued to rise, with a 46.4 percent increase for Sarasota single-family homes and an 11.8 percent increase for single-family in Manatee. Condo cash sales increased by 51 percent in Sarasota and increased by 11.6 percent in Manatee. Single-family home prices increased by 6.6 percent in Manatee County, to $329,500; Sarasota single-family prices increased by 3.3 percent, to $296,000.
Meanwhile, the month's supply of inventory decreased year-over-year. Sarasota condo inventory declined to a 4.9 month supply; Manatee condos showed no change from last year's 4.7 month supply. Sarasota single-family homes decreased to 3.6 month supply, and Manatee fell to a 3.4 month supply.