Market Report

Report: Single-Family Homes ‘Fly off the Market’ in Sarasota and Manatee

“This is one of those weird moments when it's a great time to sell, but it's also a great time to buy," says RASM president Alex Krumm.

By Staff January 22, 2021

According to new data from the Realtor Association of Sarasota and Manatee (RASM), in December 2020, more homes closed and at a faster pace than the same month in 2019. Single-family home sales increased year-over-year by 40.2 percent across the two-county market; in December, properties also spent less time on the market due to an increase in closed sales and median prices, along with lower inventory levels.

In Sarasota County, 1,038 single-family sales closed in December, a 39.1 percent jump from last year. And in Manatee County, the single-family market reported 831 closed sales, a year-over-year increase of 41.6 percent. Condo sales increased year-over-year with a 45.1 percent increase to 338 sales in Manatee, and a 19.4 percent increase to 498 sales in Sarasota.

Median prices closed out 2020 with a year-over-year increase for all markets in December. Single-family prices in Manatee County increased by 6.8 percent, to $357,900, while Sarasota single-family prices increased by 17.8 percent, to $350,000. Condo prices increased by 19.5 percent to $239,000 in Manatee County and by 7.3 percent to $276,745 in Sarasota County.

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