What is the Sarasota and Manatee County Real Estate Market Outlook report for February 2024? Welcome to our latest video where Susan and Judy review the latest Real Estate Market General Outlook for February 2024 in Sarasota and Manatee Counties. Join us as we discuss key insights, trends, and expert commentary to help you navigate the Sarasota and Manatee County real estate landscape. Discover what the numbers reveal about closed sales, median price changes, days to contract, inventory, and more. Stay informed and make confident decisions in the Sarasota and Manatee County real estate market.

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Florida Gulf Coast Living is the BEST! Welcome to our channel about living in Sarasota and Manatee County, Florida. If you’re relocating, moving up, downsizing, and building new in Sarasota or Manatee County we can help! Both Judy and I are dedicated to sharing information, educating, and helping our customers with real estate needs in Sarasota and Manatee Counties, which includes Parrish to Punta Gorda. I have lived in Sarasota County for 37 years, and there is nowhere else I would rather be! Judy is our North Manatee expert and has lived in that area for over 20 years. We’re here to help ~ call 941-451-6612.

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Hey there Judy how you doing great how Are you doing I'm fine and so Congratulations on your award you are in The top five% of the Network a beautiful surprise very Exciting very good yes and you you Topped I think you had your best year I Had my best year top 2% I don't mind Bragging a little bit but I told you I Was thinking maybe when we got our Actual Awards we you know Yeah well I've worked my way up over the Years and indeed last year I was where You are and I told you you were gonna Get an award this year yep and better Than I expected so that's pretty cool I Know very cool okay so let's get right Down to it everybody we are talking Today about the February sales in Sarasota and Manatee County and we'll Start off here with the usual um quote From our president of the Realtors Association of Sarasota and Manate and he tells us that with Increasing Inventory yay the real estate market is Becoming more balanced for buyers and Sellers Rising median home prices and Extended days on the market signal a Healthier stabilizing Market offering Buyers and sellers ample time to Negotiate and he goes on to say as the Market as days on Market increase Realtors play a crucial role in

Negotiating fa favorable outcomes for Clients partnering with a Realtor is essential in today's market Their knowledge experience and Dedication Empower clients to make Informed decisions leading to successful Transactions and we're just going to Leave it at that because we know the Value that we bring to the table Definitely especially um even beyond the Negotiations like prepping For um and handing over Keys when do I Expect what and every State's a little Different Florida included so right Being able to guide a little bit of that Process is helpful as well right okay Let's get into the numbers Judy all Right start Off everything's looking up except for Condo Prices so um single family homes um Year-over-year we had 547 uh closed sales so so that's they Actually went you know through to the Transaction um median home price um for February was 499999 so that's up 2% um dayson Market is increasing Considerably um 57 days and what I'll Say about that is I've had a few buyers And I've been pretty busy and buyers are Able to look at more options this way They're also able To negot iate a little or have an

Alternative so if a Home if if they don't know if they want To pay a certain price for a home they May look an alternative and a year ago Two years ago there wasn't an Alternative so that's nice um and then Months uh Supply um we always talk about Six months being a balanced Market we're At 4.2 months in the single family home Sales condo sales um kind of surp Surprisingly we're actually up because They've um been a little cautious on the Sales here so we're up uh just part of a Half of a percent um but median price Has gone down 349 493 um for a median price for condos and That takes in your little tiny condos um Up to your highrises and Long Boat Key Condos and things like that um time to Contract is similar to single family Homes at 52 days that has increased a Lot and the month supply is balanced for Condos at 6.2 months um we've had some New condo laws and um a little more Awareness on funding the HOA portion of A condo and so I think that's affected a Lot of these Numbers yes I think so too um what I'm G To do here is find my Stats did not hold them up yet I hit Them ready okay so Anything significant that you um can Pick up well one thing I'm seeing in um Older homes and also I have some

Customers that I take to Sun City as Well which is Hillsboro County and Hillsboro County surprisingly I had one Customer he's missed two homes where in The process of getting the contract Together it went pending um and some Were on the market one was on the market 10 days one was on the market like 60 Days But it's still I still think you buyers Should have a little sense of urgency if There's something they have their heart Set on or really want to act on not to Drag your fee because homes are still Moving it's not a very stagnant Market Um but it was disappointing because We're still looking we're gonna find him And his wife the right home but um that Market was interesting um it seems a Little slower but then all of a sudden These things are just hopping off the Market so still you know act with a Little urgency um if there's something You just think you fall in love with we Should do something quickly on And Judy you can move into um Hillsboro County because Hillsboro County is just Melding into Manity yes definitely we're kind of Blending together um there's a city Called my mama just north of Sun City And then um around our area here so yeah I mean I am just as close to Sun City as I am to Sarasota so I can cover that

Whole range yeah good okay I found my Stats yay we've had a fun technical day Every We have but Judy you're you're not Freezing up anymore that's really good Yes okay so and as as well U we See increases in the number of sales the Median price the number of days on Market and the month supply with single Family homes in Sarasota we're at 577 sales for the month of February Ary We are looking at a slight increase in The median sales price at 507 500 and we're looking at an increase of To 40 days on time to contract and 5.2 Months of Inventory the condo Market the the Number of sales went down a little Bit the price went up slightly to uh 389 389,000 is $750 the time to contract was about the Same as it was for single family homes At 42 days and we have a good 6.7 months of Supply on the condo Market In the Sarasota Area so we're still plug along here Judy And I wonder to remind people your Sarasota County includes like Venice City cities people hear about Venice all The way down through Norport yeah um so yeah um then when you Get across the river we're not Sarasota

County anymore But across Peace River I think it Is don't ask me on that One Gordon and so forth So here again we're looking at a lot of The Same um you Know information that we've been sharing For months right and and for everyone That thought home prices were going to Start going down drastically they're not Um we're not seeing that no if homes are Priced Right like we say over and over If they're Priced Right they're still Selling well if they're a little high They're sitting a little longer right Right so what this just that tells us is We we're working into a balanced market Now after that happens Judy who Knows maybe it's GNA level out really Level out and then as the inventory Starts going up the prices go up uh down Which is what you would expect right but We are in such a uh desirable area the Demand is so strong yep it is more fun Though right now that I can I can give My buyers and our buyers choices like Hey here's 15 properties choose the five You want to see right before it's like Here's the two you can look At one is good enough Folks okay so Judy not much else to say no it's Getting warm outside here in

Florida yeah it's starting to get warm Anyway folks until the next time bye Bye [Music]

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