Sarasota/Manatee Home Prices Hit Record High, As Northerners Move South
The extremely-hot real-estate market for existing single-family homes in our area, is even hotter as we enter the Fall of 2020.
In Manatee County, in August of 2020, single family home median prices, jumped by 13.6 percent, compared to the same month a year ago, to a record $360,000.
The median price of existing condos and townhouses in Manatee County rose 8.8 percent to $223,000.
Sales of existing single-family homes in Sarasota also set a median price sales record, $327,250, up 12.8 percent from last year. Sarasota condo prices were up 8 percent to $249,495.
Numbers courtesy of the Realtor Association of Sarasota and Manatee.
The median number is the midpoint of all sales prices. Meaning, half of all homes sold for more and half for less.
“Just about all market indicators are positive on the year-over-year numbers for August, and by significant amounts. The only measurement that continues to fall short is the inventory of active listings,” said David Clapp, 2020 president of the Realtor association, said in a press release.
As you research the market, you see that many of these new real estate buyers in Sarasota and Manatee Counties are coming from New York, New Jersey, Ohio, Illinois as well as other parts of Florida. Those 5 locations, are the most active, in moving into the 941.
Reasons most popular for re-location, to Sarasota & Manatee...
1-. Escape more densely populated urban areas.
2. people working from home, and no longer having to work in a traditional office environment
3. More friendly tax policies (property and no state income tax)
Plus, everything we love about Florida.... sun, sand, water, etc....
In August, single-family home inventory fell by 34.9 percent in Manatee, and by 33.3 percent in Sarasota.