‘Seller’s Market’ Shows No Signs of Slowing
– Rising home prices have yet to slow down in November, the December report will be out January 21st.
2021 marks the highest recorded median prices in the two-county area. According to data from Florida
REALTORS® and compiled by the REALTOR® Association of Sarasota and Manatee (RASM),
the trend of low supply and high demand will round out this year with fewer available properties and higher
prices.
November 2021 data indicates the highest recorded prices in both counties for both property types. The
single-family median price in Manatee County increased by 28.5 percent to $450,411. In Sarasota
County, the single-family median price increased by 19.9 percent to $419,225. Condo prices increased by
28.6 percent to a median of $349,900 in Sarasota and by 26.4 percent to $300,000 in Manatee.
“It’s not surprising that our market is now priced higher than it’s ever been before. New listings that come
to market are being sold in a matter of hours and there are far more buyers than there are homes to sell
them,” said 2021 RASM President Alex Krumm, Broker Owner of NextHome Excellence. “I expect we’ll
continue to see higher prices next year.”
In November 2021, the combined closed sales of all property types in both counties decreased year-over year by 7.8 percent to a total of 2,141 sales. For single-family homes, closed sales decreased year-over year by 2 percent to 833 sales in Sarasota County and by 2.5 percent to 699 sales in Manatee. Condo sales decreased by 16.8 percent to 351 sales in Sarasota and decreased by 22.3 percent to 258 sales in Manatee.
Cash sales make up a large percent of all closed sales in this seller’s market, accounting for 41.9 percent
of single-family home sales in the Sarasota and Manatee area. Of all condo sales in the two counties, 55.5
percent were closed with cash offers.
