Here is where our local market stands as of the end of July, using a trailing 90-day sales pace.
Single family homes are still favoring sellers. Across Sarasota, Manatee, and Charlotte there is about 4 months of inventory, and anything under 6 months is a seller’s market. Manatee and Sarasota are the tightest, near 3.6 to 3.8 months, and Charlotte is a little softer near 4.5. Well priced homes are going under contract in a median of 42 to 59 days.
Condos and townhomes are a different story. On the same 90-day pace, inventory sits around 7 months for the area, which favors buyers. Charlotte and Sarasota are close to 7 to 8 months and Manatee is tighter near 6. If you own a condo and plan to sell, pricing it right in the first week matters more than ever.
Where the action is by price. In the single family market, the $200,000 to $400,000 range is moving fastest, with about 3 months of inventory. Homes above $800,000 are taking longer and negotiating more. Entry level homes are holding 98 to 100 percent of their original price, while homes over $1,000,000 are settling closer to 91 percent.
Prices have held steady. Median single family sale prices in July were about $439,500 in Sarasota, $445,000 in Manatee, and $335,000 in Charlotte.
