The Sarasota and Manatee housing market reports renewed demand with a rise in sales, new listings, pending sales, and pending inventory in July of 2020. According to the reports compiled by Florida Realtors and provided by the Realtor Association of Sarasota and Manatee, closed sales in July increased by 24.1 percent from the same month last year. There has also been a rise in demand and a decrease in inventory.
Last month’s closed sales across the two-county market totaled 2,426 sales, a 24.1 percent increase from July of 2019. In Manatee County, single-family closed sales increased by 26.7 percent to 774 sales, and condos increased by 16.5 percent to 276 sales. In Sarasota, single-family homes increased by 21.9 percent to 978 sales and condos increased by 30.5 percent to 398 sales.
For the second consecutive month, pending sales increased in all markets in Sarasota and Manatee counties with a combined 36.2 percent jump from July of last year. For single-family homes, pending sales rose by 33.1 percent in Manatee and by 33 percent in Sarasota. The condo market showed a 47.9 percent increase in pending sales in Sarasota and a 38.9 percent increase in Manatee.
Median sales prices for both single-family homes and condos rose year-over-year in July. Single-family prices in Manatee County increased by 10.5 percent to $358,963 and in Sarasota, prices increased by 12.8 percent to $327,250. Condo prices increased by 15.2 percent to $220,000 in Manatee and rose by 7.1 percent to $240,000 in Sarasota County. For more information, click here.