Sarasota-Manatee Real Estate Market Report: June Highlights
A Strong Performance with Rising Prices and Expanding Opportunities Across All Segments
The Sarasota-Manatee real estate market buzzed with activity in June, boasting an impressive 1,443 residential properties sold. The average listing price soared to $654,395, while homes found their new owners at an average sale price of $616,773, culminating in a strong 94% list-to-sale price ratio. On average, properties spent 81 days on the market, reflecting a dynamic landscape with an expanding array of listings for eager buyers. At the time of this report, 9,737 homes were listed for sale in Sarasota and Manatee Counties.
In the mid-range segment, homes priced between $400,000 and $499,999 comprised 17% of sales. These vibrant listings, averaging $454,595, were highly sought after, selling for nearly 97% of their asking prices, a clear testament to the robust demand in this segment.
Turning to the luxury market, properties priced at $1 million and above accounted for 11% of transactions, showcasing an average sale price of a staggering $2.07 million. Homes in this elite category enjoyed an average market time of 92 days, with 1,774 active listings currently available. This abundance provided discerning buyers with a wealth of options and enhanced negotiating power.
Key Takeaways:
- Mid-range homes are experiencing a surge in demand, frequently closing close to their asking prices.
- Luxury buyers benefit from a greater selection and extended market times, giving them additional leverage.
- With over 9,000 active listings on the market, now is an ideal time for buyers at every price point to explore the rich opportunities available.
If you have any questions, please don't hesitate to contact Steven and Georgia at 941-260-6429.
For a detailed breakdown by price range, please refer to the detailed chart below.
