Real Estate

Local Housing Market Activity Significantly Decreased in April

The Realtor Association of Sarasota-Manatee says a pause in the housing market was expected as a result of COVID-19 and stay-at-home orders.

By Staff May 21, 2020

Image: Shutterstock

New reports compiled by Florida Realtors and provided by the Realtor Association of Sarasota and Manatee (RASM) show significant decreases in overall market activity when compared to April 2019 due to the COVID-19 pandemic and Gov. Ron DeSantis' stay-at-home orders. Sarasota and Manatee counties experienced declines in closed sales, pending sales and new listings, while median prices stay on the rise.

A total of 1,628 closed sales were reported in April 2020 for the two-county area, a 23.8 percent decrease from the same time last year. In Sarasota, single-family sales decreased by 20.3 percent to 632 sales, and condo sales decreased by 29.3 percent to 314 sales. Manatee single-family homes decreased by 21.2 percent to 499 sales, while condo sales decreased by 30.9 percent to 183 sales.

However, RASM data shows that median sales prices continue to increase year-over-year, even amid the COVID-19 pandemic. Single-family home prices in Manatee County increased by 7.9 percent to $340,000. In Sarasota, single-family prices increased by 8 percent to $313,250. Condo prices increased by 7.9 percent to $212,000 in Manatee and decreased by 0.4 percent to $234,863 in Sarasota.

Click here to read RASM's full report.

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