The Sarasota and Manatee housing market experienced a slower month of sales in September compared to the same month last year. There were a total of 2,072 sales in September, an 11% decrease from September 2020.
“The market has taken a very typical breather through the late summer but we’re still most likely in the ‘calm before the storm.’ The same factors that have made this year one of the busiest on record are still in play, and prices will almost certainly be driven higher by a very limited supply of homes,” said 2021RASM President Alex Krumm, Broker Owner of NextHome Excellence.
Prices continue to rise year-over-year for the two counties in September. In Manatee County, the median price for single-family homes is $430,000, a 22.9 percent increase from last year. In Sarasota, the median price is $407,000, an increase of 27.8 percent.
The inventory of all active listings in the two counties decreased by 58.9 percent to 1,870 listings at the end of September. Heading into 2022 we should still have the buyers, but there aren’t enough homes to sell them, nor will we be able to build enough homes to supply the demand. All of these factors indicate the forecast is very strong for higher prices in 2022.
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