January 2020 Real Estate Market Activity Recap.
Sarasota and Manatee single family home, condo and townhome sales.
According to monthly reports from Florida REALTORS®, the Sarasota and Manatee housing market experienced another robust month of sales in January of 2020. Compared to the same month in 2019 when there was a decrease in sales and an increase in inventory, the opposite can be said for January 2020 with an increase in sales and a decrease in inventory.
Closed sales in Sarasota and Manatee totaled 1,539 in January 2020, a 32.4 percent increase from the same month last year. In Sarasota, single-family closed sales increased by 22.8 percent to 565 sales and Manatee sales increased by 22.4 percent to 410. Condo sales increased by 57.8 percent to 344 sales in Sarasota and by 47.7 percent to 220 in Manatee.
Cash sales continue to rise with a 46.4 percent increase for Sarasota single-family homes and an 11.8 percent increase for single-family in Manatee. Condo cash sales increased by 51 percent in Sarasota and increased by 11.6 percent in Manatee.
Single-family home prices increased by 6.6 percent in Manatee County to $329,500. Sarasota single-family prices increased by 3.3 percent to $296,000. Condo prices increased by 7.7 percent to $210,000 in Manatee and increased by 15.4 percent to $277,000 in Sarasota.
New listings, or the number of properties added to the market this month, decreased for single-family homes but increased for condos. Condo new listings increased by 9.2 percent in Manatee and by 4.1 percent in Sarasota. Single-family new listings decreased by 3.7 percent in Manatee and decreased by 13.7 percent in Sarasota.
The months supply of inventory decreased year-over-year. Sarasota condo inventory declined to 4.9-months’ supply and Manatee condos, at 4.7-months, showed no change from last year. Sarasota single-family homes decreased to 3.6-months’ supply and Manatee fell to 3.4-months.
Combined inventory in both counties decreased by 18.2 percent from January of 2019. Single-family home inventory decreased by 16.3 percent in Manatee and by 23.8 percent in Sarasota. Condo inventory in Manatee decreased by 2.8 percent while Sarasota decreased by 18.9 percent.
Pending sales increased in both markets in both counties, indicating more closed sales in the future. With the two counties combined, single-family pending sales increased by 25.4 percent and condo pending sales increased 6.2 percent.
Click HERE to download the report.
For Specific Information contact us at (941) 921-2117 or EdBertha@DiscoverSuncoastHomes.com
Burns & Bertha – Changing Lives – Red Line Investors – © 2020
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Reprinted with permission of Florida Realtors. All rights reserved. ©Florida Realtors®
