Insights into the 2023 Housing Market of Sarasota and Manatee Counties
In 2023, the housing market in Sarasota and Manatee counties is displaying signs of stabilization, with housing inventory returning to pre-COVID levels. The Months’ Supply of Inventory (MSI) is a key metric, indicating a shift away from a seller’s advantage. Sarasota’s MSI increased for both single-family and condos, while Manatee County saw changes in inventory for condos and single-family homes.
The market adjustments offer benefits for both buyers and sellers. Although median prices remain high, the process may take longer, and buyers may be less willing to waive contingencies. The yearly market trends in 2023 reveal changes in closed sales, median prices, and the time to contract for both property types in the North Port-Sarasota-Bradenton MSA.
December 2023 saw increased closed sales year-over-year, changes in median sale prices, and shifts in the time to contract. The supply of inventory in December showed increases for condos in both counties. The overall active listings at the end of December recorded a significant increase compared to the previous year.
Monthly reports from Florida Realtors® provide comprehensive statistics, offering insights into the evolving real estate landscape in Sarasota and Manatee counties. For more detailed information dating back to 2005, you can visit www.MyRASM.com/statistics.
