Home sales in Sarasota and Manatee counties increased for the second consecutive month in 2018, due in part to tight inventory, pressuring median prices to rise again.

Combined closed sales in the two-county area increased by 8.8 percent from February 2017. 

"So far, our traditional 'snowbird' season has been more robust than last year," says Greg Owens, 2018 president of the REALTOR Association of Sarasota and Manatee. “The opportunity for growth is reflected in the continuing demand for homes in our community.”

Overall, median sales prices are up. Manatee condos increased by 22.2 percent to $213,250, breaking $200,000 for the first time since 2008. The median price for Sarasota condos decreased by 0.1 percent to $219,000. Manatee single-family homes increased by 3.5 percent to $300,000, while Sarasota single-family home prices increased by 5.8 percent to $272,500.

Inventory experienced a combined 2 percent decrease from February 2017. For comprehensive statistics dating back to 2005, visit myrasm.com/statistics.