Sarasota and Manatee Counties See Rising Inventory and Steady Sales
In December 2024, the real estate market in Sarasota and Manatee counties experienced notable shifts. Closed sales increased by 17.8% compared to the previous month and 5.5% year-over-year, reflecting strong buyer activity.
Sellers, on average, received 96.0% of their list price, a slight decline of 1.1% from last year. The median sale price reached a six-month high at $449,148, although this marked a 3.9% decrease compared to December 2023.
Inventory also hit a six-month high, ending the year with a 27% increase from the same time last year, signaling a growing supply of homes on the market. The months’ supply of inventory rose to 5.03 months, further highlighting the expanding availability of properties.
New listings surged by 35.5% year-over-year, contributing to the rise in inventory, while properties placed under contract in December declined by 10.8% from the prior month but increased 11.5% compared to the same period last year.
Homes took longer to sell, with the median days on market reaching 43.5 days, a significant 55.4% increase year-over-year. These trends indicate a market adjusting to increased inventory and shifting buyer behaviors as the year came to a close.