In November 2020, the local housing market reported another rise in closed sales, cash sales and median prices, according to new data from the Realtor Association of Sarasota and Manatee (RASM).
Combined for both counties in both markets, closed sales increased by 40.2 percent in November 2020. However, the combined inventory of active listings in all markets decreased year-over-year by 35.1 percent across the two counties. The low supply, coupled with high demand, continued to push up median prices; single-family prices in Manatee County increased by 7.2 percent, to $350,500, while Sarasota prices increased by 19 percent, to $349,695. Condo prices increased by 10.3 percent to $237,250 in Manatee and by 13.3 percent to $271,999 in Sarasota. Single-family cash sales in Manatee increased year-over-year by 52 percent and condos in Manatee increased by 77.4 percent. In Sarasota, single-family cash sales increased by 29.6 percent and condos increased by 12.7 percent. To read the full report, click here.