According to new information from Florida Realtors and the Realtor Association of Sarasota and Manatee (RASM), February’s housing market in Sarasota and Manatee counties showed more closed sales, more cash sales, higher median prices, and limited inventory when compared to a year ago. Closed sales increased year-over-year by 27.6 percent across the two-county market, representing a combined total of 2,182 sales in February.
Single-family home sales increased by 34.5 percent to 831 sales in Sarasota County and by 12.8 percent to 536 sales in Manatee County. In Sarasota, condo sales increased year-over-year by 37.8 percent to 518 sales. In Manatee County, condo sales increased by 23.2 percent to 297 sales.
Prices for both single-family homes and condos also rose year-over-year in February. In Manatee County, the median price for single-family homes increased to a new record price of $380,000, a 16.9 percent increase from this time last year. The median sales price for Manatee condos, the median sales price increased by 9.5 percent to $230,000. In Sarasota County, the median price for single-family homes was $359,900 in February, a year-over-year increase of 18.4 percent, and condo prices rose by 9.1 percent to $283,750. For more information, click here.