Real Estate

Sarasota-Manatee Home Sales Dipped in July, but Prices Continued to Rise

"We're a long, long way from a balanced market," says Realtor Association of Sarasota-Manatee president Alex Krumm.

By Staff August 23, 2021

For the first time since May 2020, closed sales decreased in July 2021 in Sarasota and Manatee counties; however, home prices continued to rise to record-breaking highs, according to the Realtor Association of Sarasota-Manatee.

In July, closed sales decreased year-over-year by 7.2 percent, to a total of 2,252 sales, with 100 percent of properties closing at or above the original list price.

In Manatee County, the median price for single-family homes broke yet another record-high price in July at $430,000 in July 2021, an increase of 19.8 percent. The single-family home price in Sarasota was $400,000, a 22.2 percent increase from last year. Sarasota condo prices increased by 31.3 percent increase, to $315,000, and Manatee condo prices increased by 13.7 percent, to $250,050.

Inventory of all property types in the two counties decreased year-over-year by 65.7 percent, to 1,771 active listings at the end of the month. However, compared to June 2021, inventory across the two counties increased by 15.3 percent.

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