June 2024 Real Estate Update: Sarasota and Manatee Counties
June 2024 Real Estate Update: Sarasota and Manatee Counties
The real estate statistics for Manatee and Sarasota Counties were just released from the Real Estate Association of Sarasota and Manatee and we wanted to give you some insights as to what is happening in our market. The information from Florida Realtors® shows that the market is becoming more balanced. There are more houses for sale, and prices are changing more slowly. This is good news for buyers but means more competition for sellers.
Key Trends in June 2024:
Sarasota County:
- More Houses for Sale: There are a lot more houses and condos available.
- Lower Prices and Sales: Fewer houses and condos are being sold, and prices have gone down a bit.
- Good for Buyers, Tougher for Sellers: Buyers have more choices, but sellers need to be ready for more competition.
Manatee County:
- More Houses for Sale: Inventory is up, and prices are more steady.
- Balancing Market: Fewer single-family homes are being sold, and prices are a bit lower. The condo and townhouse market is now better for buyers.
- Careful Sellers: Sellers are more cautious about listing new properties.
Single-Family Homes
Sarasota County:
- Fewer Sales: 692 homes were sold, 10% less than in June 2023.
- Price Drop: The median price is now $495,000, down 5.3%.
- More Listings: There are 3,211 homes for sale, up 65.3%, making it easier for buyers.
- Longer Selling Time: It takes about 50 days to get a contract and 93 days to sell, longer than before.
Manatee County:
- Fewer Sales: 728 homes were sold, 4.1% less than in June 2023.
- Small Price Drop: The median price is $518,950, down 1.2%.
- More Listings: There are 2,508 homes for sale, up 56.6%, giving buyers more options.
- Longer Selling Time: It takes about 57 days to get a contract and 115 days to sell.
Townhomes and Condos
Sarasota County:
- Fewer Sales: 283 condos were sold, 25.7% less than in June 2023.
- Small Price Drop: The median price is $384,060, down 1.5%.
- More Listings: There are 1,941 condos for sale, up 81.6%, which is good for buyers.
- Longer Selling Time: It takes about 59 days to get a contract and 107 days to sell.
Manatee County:
- Fewer Sales: 246 condos were sold, 17.2% less than in June 2023.
- Price Drop: The median price is $344,495, down 6.9%.
- More Listings: There are 1,330 condos for sale, up 72.3%, making it easier for buyers.
- Longer Selling Time: It takes about 73 days to get a contract and 115 days to sell.
The real estate market in Sarasota and Manatee counties is changing. There are more houses and condos for sale, giving buyers more options. Sellers need to be prepared for more competition. For help finding the perfect home in Lakewood Ranch, contact The 941 Lifestyle Group. We're here to help you find the home and lifestyle you want.
Beyond Homes - We Match Lifestyles
Thank you for taking the time to read our blog. We are excited you found us.
We are the 941 Lifestyle Group.
We are real estate agents in Lakewood Ranch and would love to be your go-to real estate team in the 941 area.
We service all of Manatee and Sarasota Counties.
Specializing in Lifestyle Real Estate.
From the beautiful Gulf Beaches, Downtown Sarasota, and Lakewood Ranch.
Please reach out anytime.
941-233-9722
Adam Miller
Real Broker, LLC
*Some of our blogs were written with the assistance of AI.
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