Home sales are up in Bradenton-Sarasota for 3rd month in a row. What about price?

James A. Jones Jr.
·2 min read
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In July, for the third consecutive month, the sales of existing single-family homes in the Bradenton area increased while the median price fell.

Sales were up 10% to 624 homes, while the median price fell 1.2% to $515,000, compared to the same month a year ago, the Realtor Association of Sarasota and Manatee reported Tuesday.

In May, more homes changed hands in the Bradenton area than in any month since June 2021 while the median price fell 6.4% to $515,000.

The trend continued in June with 17.7% more homes — 759 — selling than in the same month a year ago. June also saw a decline in the median price from $550,000 to $525,000.

“The current situation, characterized by a unique buyer-seller ratio with generally fewer participants on both sides, contributes to fewer transactions but also explains why prices are relatively stable,” Brian Tresidder, 2023 RASM president, said in a press release.

“We are still dealing with low inventory numbers in our area, and the lack of new listings could be a key factor holding our median sales prices close to where they are or possibly seeing them increase if our inventory levels continue to drop,” Tresidder said.

In July, for the third consecutive month, the sales of existing single-family homes in the Bradenton area increased, while the median price fell.
In July, for the third consecutive month, the sales of existing single-family homes in the Bradenton area increased, while the median price fell.

The median number of days from the listing date to contract date continues to increase year-over-year. Manatee homes went under contract within a median of 29 days, a 222.2% increase from last year.

Single-family home supply increased by 8% to a 2.7-month supply.

Manatee County condos

In Manatee County, condo sales increased by 22% to 249 sales, while the median price fell 1.3 % to $350,000.

Pending sales increased year-over-year by 19% in Manatee County.

Condo supply increased by 78% to a 3.2-month supply.

Sarasota single-family homes

In Sarasota County, single-family home sales decreased by 6.6% to 633 sales. Home prices increased by 2% to $535,000.

The median number of days from the listing date to contract date continues to increase year-over-year. For single-family homes, Sarasota homes went under contract in 25 days, a year-over-year increase of 150%.

In July, there was a 3.2 month supply of single-family homes.

Sarasota condos

Sarasota condo sales decreased by 8% to 266 sales. Condo prices decreased by 0.4% to $389,500. The number of homes that went under contract last month increased year-over-year.

The condo market showed the highest number of days from listing date to contract date since 2020, with 47 days reported in Manatee County (a 422% increase) and 36 days reported in Sarasota County (a 260% increase).