manatee county florida real estate data for march 2023     sarasota county florida real estate data for march 2023

(April 21, 2023) – Demand for housing in Sarasota, Lakewood Ranch, Bradenton and Parrish, Florida remained strong as sales in Sarasota and Manatee counties increased by nearly 50 percent in March, 2023 compared to February, 2023.  Single-family home sales in Manatee County increased year-over-year for the first time in 12 consecutive months. According to data from Florida REALTORS® and compiled by the REALTOR® Association of Sarasota and Manatee (RASM), the number of available homes and condominiums for sale continues to increase.

Closed sales across the two-county region decreased year-over-year by 3.4 percent to 2,271 sales combined for both property types. There were more sales in March than in February (1,515 sales), with a 49.9 percent increase from last month.

For single-family homes, Manatee County closed sales increased year-over-year by 4.4 percent to 756 sales while Sarasota County sales decreased by 3.8 percent to 826 sales. Condo sales decreased by 7.7 percent to 275 sales in Manatee County and by 11.7 percent to 414 sales in Sarasota.

Prices in the North Port-Sarasota-Bradenton MSA have increased this month when compared to March 2022. However, in Manatee County single-family homes decreased by 6.3 percent to $491,988. For Sarasota County, the median price for single-family homes increased by 8.3 percent to $528,013, the second-highest median price recorded in the county with the previous record being $537,500 in October 2022. As for condos, Manatee County prices increased by 10.1 percent to $353,000 while Sarasota prices increased by 14.4 percent to a median of $423,245.

Pending sales, or the number of homes that went under contract this month, decreased across all markets except for Manatee County single-family homes. For single-family homes, pending sales increased year-over-year by 7.9 percent in Manatee County but decreased by 2.7 percent in Sarasota. Condo pending sales decreased by 5.8 percent in Manatee County and by 10.8 percent in Sarasota County. Despite the year-over-year declines in pending sales, this figure has grown steadily for all markets in the two-county region since the start of the year.

At the end of the month, there were 5,541 active listings in the North Port-Sarasota-Bradenton MSA, a 247.6 percent increase from the same time last year. When compared to last month, the total inventory for both property types increased by 5.7 percent.

The month’s supply of inventory continues to increase across the two counties. In Manatee County, condo supply increased by 428.6 percent to a 3.7-month supply and by 400 percent to a 3-month supply for single-family homes. In Sarasota County, there was a 3.3-month supply for condos and a 3.1-month supply for single-family homes, a year-over-year increase of 450 percent and 287.5 percent respectively.

The median number of days between listing date to contract date is up significantly in March. In Manatee County, single-family homes went under contract within a median of 46 days for single-family homes, a year-over-year increase of 820 percent, while condos sit at 23 days-to-contract which is an increase of 360 percent. In Sarasota, the median time to contract for single-family homes increased by 400 percent to 25 days, while condos increased by 260 percent to 18 days.

Data provided by Florida Realtors® with data compiled from Stellar MLS.