Sarasota Real Estate Market | 2017 Year In Review

The Sarasota-Manatee residential sales market had another strong showing in 2017.  Sarasota condo sales reached a new record and were 6.6% higher than in 2016. Manatee condo sales, however, decreased by 4.8% from 2016’s record setting sales numbers.  Single family homes in Sarasota were up slightly in 2017 as compared to 2016 and Manatee County single family homes sales stayed the same.

Median sales prices of single family homes in Sarasota were up by an impressive 7.6% in 2017 over 2016 at $269,000.  Median sales prices of single family homes in Manatee County rose 7.2% from 2016 levels, at $295,000.  The median price of Sarasota and Manatee condos increased 7.1% and 5.9%, to $225,000 and $180,000, respectively.

In 2017, inventory for single family homes increased by 1.2% in Manatee County and decreased by 8.4% in Sarasota County.  In 2017, inventory for Sarasota condos increased by 3.3%, and Manatee County condo inventory decreased by 2.1%.

Inventories are at levels low enough to be considered a seller’s market in both Sarasota and Manatee County. Sarasota County condos are at a 5.3 months supply and Sarasota single family homes are at a 4.1 months supply. Manatee County condos are at a 4.5 months supply and Manatee single family homes are at a 4.2 months supply.

The general consensus is that the strong sales trend will continue into 2018.

The Sarasota-Manatee area is beautiful with a seemingly endless number of appealing residential areas to choose from.  People form all over the globe visit the area to revel in its beauty and many offerings.  Finding an experienced, pleasant realtor can be quite an asset when you are deciding to sell or buy a home. Let us put our local knowledge and experience to work for you to find the perfect realtor to help you!

“We Find Top Sarasota Realtors For You”
Find Sarasota, Realtors®
240 S. Pineapple Ave, Suite 802
Sarasota, Florida 34236
941-361-9007