Graphic courtesy Realtor Association

In Manatee County, the price of homes in June dropped but the number of houses sold increased. In Sarasota, it was the inverse.

The Realtor Association of Sarasota and Manatee released sales data for the month of June. That shows the median sale price declining in the region. But the situation looks different in the two counties tracked by the association. Prices on single-family homes in Manatee County was down 4.5% compared to June 2022, to $525,000. Meanwhile, the median home price in June jumped in Sarasota County to $522,500, a 4.5% leap. In the smaller condo market, the median price in Manatee climbed to $370,000, a 3.8% increase from last year, while condo prices in Sarasota fell 6.3% to $390,000.

“The residential market in Manatee County continues to thrive with two back-to-back months of increased sales over the last year, indicating strong buyer activity and market resilience,” said Brian Tresidder, 2023 RASM President and Strategic Growth and Sales Manager at William Raveis Real Estate.

“The real estate market in Sarasota County remains dynamic, with single-family sales experiencing a decline compared to 2022. Nevertheless, June sales point to more balance, slowly narrowing the gap with last year’s figures and reaffirming the region’s market strength.”

The number of homes sold in Manatee County in June went up year-over-year. There were 759 total single-family home sales in the market, a 17.7% leap from last year. Condo sales also climed 12.1% to 297 in the month. Meanwhile, Sarasota posted 769 sales in June, a 4.1% drop from the prior June, but condo sales climbed 1.3% to 381 sales.

The market remains a seller’s market, but the amount of inventory on the market is starting to climb. Manatee in June reported just a 2.8-month supply of single-family homes on the market and a 3.4-month supply of condos. Sarasota County, meanwhile, has a 3.2-month home inventory and a 3.5-month supply of condos.

“With a home supply of around three months, our market continues with more favorable conditions for sellers than for buyers,” Tresidder said. “The decline in new listings within the two counties further contributes to the prevalence of a seller’s market. It is typical for our area to see a decline in new listings around this time of year before the market experiences more activity heading into fall and further into spring.”

Graphic courtesy Realtor Association