Market Report

Realtor Association: Increased Home Sales Amid Record-Low Inventory—Again

One hundred percent of June home sales in Sarasota and Manatee counties closed at or more than the original list price.

By Staff July 22, 2021

Our red-hot housing market shows no signs of waning. According to data from Florida Realtors compiled by the Realtor Association of Sarasota and Manatee (RASM), June marked the region's 12th consecutive month of sales growth. Last month’s numbers showed more closed sales, higher median prices and record-low housing inventory, with June home sales increasing by 41 percent compared to last year, with a total of 2,849 sales.

In Sarasota County, single-family sales increased by 42.8 percent to 1,097 sales, and condo sales increased by 72.2 percent to 575 sales. In Manatee County, single-family sales increased by 24.3 percent to 830 sales and condo sales increased by 38.8 percent to 347 sales.

Since March 2021, the number of closed sales has consistently outpaced the number of new listings available, leading to an all-time inventory low. In June, the inventory of all property types in the two counties decreased by 72.4 percent to 1,537 active listings–the lowest level recorded.

June’s inventory for single-family homes in Sarasota decreased by 74.1 percent and by 76.9 percent in Manatee. Similarly, condo inventory decreased by 86 percent in Sarasota and 86.8 percent in Manatee County.

This played a role in spiking sale prices. Last month, the Sarasota median sales price for single-family homes was $400,150, a 31.2 percent increase from last year. In Manatee County, it was $405,305, a year-over-year increase of 24.7 percent. Sarasota condos reported a median sales price of $309,700 and Manatee reported a median price of $280,000.

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