December Housing Stats
In the last month of 2022, the combined closed sales of all property types in both counties decreased yearover-year by 34 percent to 1,530 sales. For single-family homes, closed sales decreased by 41.9 percent to 486 sales in Sarasota County and by 29.7 percent to 537 sales in Manatee. Condo sales decreased by 33.3 percent to 275 sales in Sarasota and decreased by 24.2 percent to 232 sales in Manatee. December 2022 reports a year-over-year rise in prices with single-family homes reaching a median price of $505,500 in Sarasota and $507,000 in Manatee County, an increase of 16 percent and 10.2 percent respectively. Condo prices increased by 8.3 percent to $390,000 in Sarasota County and increased by 13.7 percent to $344,475 in Manatee County. The median time from listing date to contract date was reported at 25 days for single-family homes across both counties, a 257 percent increase from the same month last year. As for condos, the median time to contract is at 19 days, a 171.4 percent increase. This is a large increase from December of 2021 when the median time to contract was at 7 days for both property types across the two-county region. The month’s supply of inventory in December was 3 months for single-family homes in Manatee County, a 400 percent increase and the largest year-over-year increase this year. In Sarasota County, there was a 2.5-month supply for single-family homes, a 316.7 percent increase. Condos in Sarasota increased by 266.7 percent to 2.2 months while condo supply in Manatee increased by 440 percent to 2.7 months. At the end of the year, the inventory of all active listings was 4,834 for both property types in the NorthPort-Sarasota-Bradenton MSA, a 235.7 percent increase from last year when the inventory of all active listings was 1,440.