March of 2024 in Manatee ended up looking much like March of 2023, with the exception of overall inventory levels. Inventory levels are up over 50% when compared to the same month in 2023; however, overall inventory is still less than four months of home sales. That is keeping the market slightly tilted towards sellers even though it feels pretty well in balance. The infographic below from Florida Realtors contains more information on our most recent closed month.
It is important to protection your personal information when going through a real estate transaction. The infographic below from Florida Realtors provides a framework for keeping your information as safe as you can.
Despite some concerns about an impending recession, unemployment rates remain low, which presents a mixed scenario for the housing market. In March, the U.S. saw the addition of over 300,000 jobs, as reported by the Labor Department, reducing the unemployment rate to 3.8% from February’s 3.9%.
Cash sales made up almost 50% of the closed transactions for single-family homes in Sarasota County in February. There is still money moving into this housing market. That said, listings are continuing to outpace closed sales at almost a two to one clip. As overall inventory is just under six months of sales, we are still in a well-balanced market. In other words, it remains a solid time to be either a buyer or a seller in Sarasota County. The infographic from Florida Realtors below contains more information.
The market for single-family homes in Manatee continued its movement towards a buyer’s market in February as new listings outpaced closed sales almost two to one. That said, we are not there yet. The median sales price continues to hold strong and overall inventory is at less than five months of sales. It remains a good time to be on either side of a transaction. The infographic below from Florida Realtors contains more information.
