Sarasota Real Estate June 2018 Update

Sarasota and Manatee Home Sales Rise Again in June

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Sarasota Real Estate June 2018 Update
SARASOTA, Fla. (July 23, 2018) – The Sarasota and Manatee market stays on trend with increasing home sales, rising median prices and low inventory in June 2018.

"We’ve consistently seen low inventory levels and rising prices over the last few months,” said Greg Owens, 2018 President of the REALTOR® Association of Sarasota and Manatee. “But, sales continue to maintain a steady pace, supporting a strong local economy.”

Sarasota County and Manatee County reported a total of 2,097 closed sales in June 2018, a 5.2 percent increase from last year. In the condo market, Sarasota sales increased by 3.8 percent to 384. As for single-family homes, Sarasota increased by 1.7 percent to 798.

Combined pending sales, or the number properties that went under contract this month, increased by 3 percent from June 2017. For Sarasota County, there was no change in the condo market and a 2.3 percent decrease in single-family home pending sales.

"Real estate is local,” added Owens. “Single-family pending sales are up in Manatee and down in Sarasota County. Find a REALTOR® with the expertise in your specific, local market.”

Overall, inventory is down compared to June 2017. Sarasota single-family homes decreased by 3.4 percent, while condo inventory increased by 1.9 percent.

Median sales prices continue to rise. Sarasota single-family homes increased by 1.6 percent to $279,500 and condo prices  increased by 2.7 percent to $221,250.

At less than 5 months to deplete the current inventory, the two counties represent a seller’s market in June 2018. Sarasota condos are at a 4.5 month-supply, a 6.3 percent decrease. Both Manatee and Sarasota single-family homes decreased to a 4.1-month supply of inventory.

Monthly reports are provided by Florida REALTORS® with data compiled from My Florida Regional Multiple Listing Service. For comprehensive statistics dating back to 2005, visit www.MyRASM.com/statistics.





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Sarasota Real Estate Update: July 2018
Todd & Tamara Currey
  • Tamara Currey

    Tamara Currey

    Realtor

    GRI, CIPS
    Licensed in Florida

    941.587.1776

    tamara.currey@premiersir.com

  • Todd Currey

    Todd
    Currey

    Realtor

    CPA, GRI, CRS, ABR
    Licensed in Florida

    941.918.8889

    todd.currey@premiersir.com