Two Counties, Two Distinct Patterns
What makes this month's data so compelling is the contrast. Sarasota County's single family home sales surged 28.5% year-over-year, while Manatee County saw a 13.7% decline. Meanwhile, Manatee's condo and townhome market jumped 16.0%, while Sarasota's dropped 3.4%.
Sarasota County Single Family Homes: Renewed Buyer Energy
November brought 564 closed sales for single family homes in Sarasota County, representing that impressive 28.5% increase from last year. The median sale price settled at $457,495, down 6.6% year-over-year, creating opportunities for buyers who've been watching from the sidelines.
With 4.8 months of inventory, we're in a more balanced market. Homes are taking a median of 54 days to go under contract and 94 days to close steady, predictable timelines that work well for both buyers and sellers. Cash buyers made up 42.7% of transactions, while sellers received 93.3% of their original list price.
Sarasota County Townhome Market: A Buyer's Advantage
The condo and townhome segment in Sarasota saw 228 closed sales, down 3.4% from last year. The median sale price dropped 11.8% to $329,500 creating real opportunities for buyers.
Here's the key number: 8.1 months of inventory. This is firmly a buyer's market. Cash buyers dominated at 62.3% of transactions, and sellers received 92.0% of their original list price. The median time to contract was 61 days, with 103 days to close.
If you're a buyer looking at condos in Sarasota, you have significant negotiating power right now. If you're selling, strategic pricing and showcasing your property's unique value are essential.
Manatee County Single Family Homes: Slower Sales, Stronger Prices
Manatee County painted a different picture with 548 single family sales that 13.7% year-over-year decrease. However, the median sale price increased 13.3% to $487,233, reflecting a shift in the types of homes selling.
Inventory rose 8.4% to 2,647 active listings, with 4.2 months of supply. Homes took about 59 days to contract and 102 days to close. Cash sales represented 27.0% of transactions, and sellers received 94.5% of their original list price.
Manatee County Townhome Market: Balanced and Active
Manatee County's condo market showed strength with 189 closed sales up 16.0% year-over-year. The median price held steady at $308,000, dipping just 0.6%. Cash sales accounted for 49.2% of transactions, with sellers receiving 92.3% of their original list price.
With 6.5 months of inventory and homes taking 74 days to contract and 115 days to close, this market offers more balance between buyers and sellers.
What November's Data Means for Your Real Estate Journey
The biggest takeaway from November's report? There is no one size fits all market narrative for our area. Your success whether buying or selling depends on understanding the specific dynamics of your property type and county.
- Are you thinking about buying a condo in Sarasota? The conditions favor you right now.
- Considering selling your single family home in Sarasota? Buyer interest is stronger than we've seen in months.
- Navigating the Manatee County market? The strategy looks completely different.
This is exactly why working with a local expert who understands these neighborhood level trends matters. I'm not just reading reports I'm helping people like you make confident, informed decisions every single day.
#SarasotaMarketTrend #BradentonMarketTrend #LakewoodRanchMarketTrend #SouthwestFloridaRealEstate #MarketUpdate
*Based on information and monthly reports provided by Florida Realtors® with data compiled from Stellar MLS by RASM
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