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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