Buyer Demand Continues in Sarasota-Manatee Housing Market
Housing prices continue to rise in Sarasota-Manatee market, with August 2021 marking the 15th consecutive month of year-over-year price increases for single-family homes. According to data from Florida Realtors, compiled by the Realtor Association of Sarasota and Manatee (RASM), there were fewer closed sales in August, along with an increase in cash sales and low supply.
Single-family prices have increased year-over-year each month since June 2020 and continued to rise in August. In Manatee County, the median price for single-family homes was $430,000, a 19.4 percent increase from the same time last year. The single-family home price in Sarasota was $390,093 in August, an increase of 18.2 percent. In the condo market, Sarasota condos reported a 26.3 percent increase to a median price of $315,000, and Manatee reported a 23.3 percent increase to $275,000.
RASM also reported more cash sales in August 2021 than the same month last year. In the North Port-Sarasota-Bradenton MSA, cash sales increased by 46.4 percent for single-family homes and by 12.7 percent for condos.
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