Welcome to our comprehensive real estate market update for Manatee County and Sarasota County in 2023! Discover the latest trends, sales data, and valuable insights for both new home and resale buyers. In this video, we discuss the thriving residential market in Sarasota and Manatee County. Learn about median sales prices, inventory levels, days on market, and pending sales for both counties. If you’re looking to buy or sell in these areas, don’t miss this essential guide! For more statistics and expert advice, visit

Sarasota County Market Report – www.sarasotacountymarketreport.com

Manatee County Market Report – www.manateecountymarketreport.com

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Good morning everyone it's Susan Phelps And Judy Atari and what are you giggling about Judy we were catching up before we uh Started recording this Zoom we have a Lot of information to share with you and So don't go away and please subscribe And like and Judy we've been forgetting To tell people to ring that Bell yes I've gotten a couple of notes from People that have said oh what we saw the Last video how come we missed and so we Have to remind people to ring that Bell Okay we'll be right back Folks okay folks so we have the July 2023 stats to show you and to Interpreted a little bit and too much Has Changed but we're going to start with Manity County oh wait a minute Judy I'm Going to stop sharing say hello to Mr And Mrs Himes okay and you're gonna say who are They well I didn't know until Yesterday I was out in Lakewood Ranch I Was going to a realtor event and Videoing the new amenity Center in Aario and this car went by they stopped And rolled down the window and they're Yelling at me Miss Phelps Miss Phelps And I walked into the car they said Susan where's Judy they watch our Videos it was so sweet of them to stop

And let let me know that they were Watching our videos they they already Moved in to aario and they're loving it Okay but they're still watching our Videos because well they might have Friends and yeah and we we just we're Glad to hear that because we try so hard To give you you know the best Information and the most current Information so hi there Mr and Mrs hus Let's go on and I'm gonna share my Screen now let's start with Sarasota County sales Now reminding you that we this this Whole picture here is year overy year That gives us the best indication of What's happening in the market so ju so July 22 compared to July 23 exactly Right okay I'm I'm not showing up on Your screen I'm not sure if people are Seeing me or not but that's okay well I I see you oh good okay yeah perfect um So let you know we always start off our Report um with looking at these Statistics and then filling in the gaps What we're seeing in Manatee County is I'm sorry Sarasota County your Manatee Um is that single family home sales Decreased by 6.6% that means the number of closed Sales and then the condo sales decreased 8% By um to 266 six Sales that's a that that 22 and a half

22.1% in the um Sarasota Market it's That's somewhat significant but we're Still holding with Prices we see the uh median sales price In Sarasota County um holding at uh uh 535 for Single family homes and 3895 for uh condos that is a bit of a Decrease for both of those uh numbers There and we are always interested in Inventory because this is what sort of Shifts our Market we're still on a Sellers Market people we are still in a Sellers market and we're still seeing an Increase year over-year Um with the uh based on 2022 an increase to 3.2 Months for single family homes can you Remember Judy last year it was like Barely one month yeah six or seven right Something like that and then a 3.4 month Supply for res sale on condos so that's Quite an Increase and we look at um days Contract meaning the day based on the Day that it went to Market and then the Day it's changed to pending on the Market um we see that it's it's about The same as it was last month 25 days For single family homes and then uh 36 Days for condos so all in all an Interesting statement by uh our President of our association Brian Treseder says that we have a

Stable market and it I've never heard it Mentioned like this but we're we have a Unique buyer seller Ratio ah meaning that we have fewer Participants on both sides of the of the Track here so that means that we're Looking at a trend that is really Stable people say to me oh what's Happening in Florida it doesn't look Good but you know We're we're just in the The Sweet Spot we are just stable as can be so go For manity County now manate County um And again I want to remind everybody Like I do every month that these closed Sales may or may not include new home Construction which we have a ton of up Here Um it generally gets put in if the Builder has put it on the market before It sells put it in MLS or if somebody Like Susan and I listed as sold data Once we sell a close a new home so some Of our Numbers mayor may not include new Construction and it's something that the Realtor associate MLS really doesn't Have control over so okay so back to Manity our single family home sales were Up about 10% year-over-year I can't Imagine how uh so crazy last year um to 624 uh closed single family home sales And condo sales were up to at a figure Of 249 this month at 22% up so I think

You said Sarasota condos went down 22.1 % they just drove over the county line So there we are um our median home price Decreased ever so slightly at like Around 1% uh to 515 for single family Homes and 350 350,000 for condos some of That I might uh say is we have more Smaller homes being built and the last Two three years and those first year Transactions people that decided that They didn't buy the right house or They're they don't Florida is not their Thing um so I think that could be part Of that I think we have a lot of smaller Homes being sold here time to contract For single family homes is 29 days which Is over 200% 222% increase and condo sales are up 47 Days um 422 per. I will say the last two Years in the summer we've had more of The snowbirds staying through the summer And this year I don't think there's as Many of them here so that might be Contributing this Mo traffic everywhere Though um but I think that might be Contributing it to part of our longer Time is the people that are looking for Their winter homes generally don't do a Lot of that in July so but year over Year it's up considerably um for the State time but 47 days is not terrible Especially for condos because that's a Very special buyer Niche and all of that Right um single family home Inventory is

2.7 months so it's up about 8% I mean Ever so little bit and condo supply is About 3.2 months um again they're taking A little longer to sell um part of our Supply issues um that we read about is The people who have lower mortgages Aren't necessarily selling their home And giving up those mortgages right um I'm gonna stop sharing this Judy because I know that U you've been really busy And you've got and you've got um kind of A unique situation here that we sort of Touched on in in a previous video about Opportunities for people To avoid that that interest rate that Seems to be normalizing you know we're Close to seven right now if not there Yeah um I just read something I think it Was 7.4 7.2 7.4 um percent was the latest interest Rate this morning yeah so it's up there Um but we talked about rate buy downs And things um but yeah I do have a neat Situation um it's a home that's coming To Market next week uh we're just Waiting on photography house is in great Shape but it is somebody that is a Veteran has a VA loan and they have an Assumable VA loan um of course somebody Has to be eligible have their Certificate of Eligibility and Everything buttoned up to um take on That opportunity um but in our area yeah We do have a lot of people that um come

From um the Dale Air Force base and a Lot of Coast Guard people I have a lot Of neighbors that are Coast Guard um so We got some great opportunities and many Of those are veterans so it's it's a Four-bedroom home one story on Preserve um I'm not going to say the Place yet until it gets listed get in Trouble but but it's a it's like a a Year old um it's a relocation so that is Where those opportunities are coming up As people that are here um unexpectedly On a short term and then going out of State so it's a unique opportunity um And I have another home um also in that Range well actually in the higher fours Um that's going to be on the market very Soon we're doing photography today so Yeah um like Susan and I are still busy We have listings we have um should I Give them what I've done the last 10 Days good I have we together we closed On two properties um I personally have Liv Ed well will about list two Properties and I've had two buyers go Under contract um in the last 10 days And had all of my windows in my home Replaced with hurricane impact Windows Amongst other crazy things so and your Cat and my cat for a couple days my old Cat my old kidney failure cat um so so All right yeah that's activity there's Still a lot of activity lot activity Yeah if your home's Priced Right and if

You're a serious buyer we can find Things um one of my buyers uh put in a Contract two days after it hit the Market so those short things are still Happening yes they are and some of my Some people who are listing homes think That they can do like they did in early 2022 and just put on the market and not Move boxes out of the way or not propep That home properly those homes are Lingering because there are choices There are a few more choices now right Right and it has to be appropriately There's a yes um a two homes in back of Us that were put on the market one Owner appropriately priced one day on The Market pending boom yep it's very very Hyperlocal in terms of resales and even In terms of of new home sales um we need To know what you want and what your your Dreams and desires are and we're going To try our best to fit you into that Right neighborhood the right area that's Going to offer the amenities that you Like and I'm not just talking about Amenities and in a a new home Community Right um but the what's what's available In the surrounding Areas um look look we've got to get a Video up of your two new listing Soon as soon as they're on the Market um I have one that's uh listed in Beach block again another situation

Where somebody has to Relocate sooner than they thought so you Know keep in touch uh keep watching our Videos subscribe and like and ring that Bell so that you know what is coming on The market and and how how to navigate Navigate the market whether it be new Homes or whether it be Resales right resales like I think we Were chatting before this too resales Offer things some of the new builds Don't like different size Lots so like My neighborhood is more than half Preserve and which I was crawling Through looking for the cat um but There's um our lots are wide our lots Are deep um just little differences you Know the way the houses are designed are Different a different feel to them so The new houses are great and offer a lot Of great things but then there's yeah There's the right fit for resale too yes GES are more common 20 years ago than Right now so right we um had a comment On one of our videos Judy that um we can Speak to in terms of new home sales in Florida Florida realtor uh Association Com uh will pull together information About what's happening in in the state And in terms of new home sales They we've we continue to see an Increase year over-year and from month To month in new home sales so that's Really not

[Music] Um that's got there's a lot of reasons For that but it's a still a very Desirable Market throughout Florida but Especially in our area yes Man we're so lucky to live Here So yeah and then you life gets crazy Around here we just drive by the beach You get that little little Vitamin D From the Sun a little salt water in your Lungs and you know Brea I had a friend Here yeah I did a station last week or The week before um had a friend down Here I contacted this company that Actually rents um lounge chairs and Umbrellas in a certain spot on CSA KB And for x amount you can have a two Chairs and an umbrella set up for you And you can stay there all Day perfect now lugging the stuff to the Sand exactly exactly anyway there's lot Of Things thinking of that lugging stuff in The sand both Saras and manate are Adding more of the the handicap the um The wheelchair accessible mask right Right so that um you can get more people To the beach too so there's so much to Do around here and so much fun there is So much to rent I like to rent Kayaks Too go with a guide because I don't have To look it I my little tiny car there's Nowhere to put a a kayak so you you get

In the water you go around and then you Leave them the kayak and you go home It's fantastic we did that from the Bay Park the new Bay Park down in um on um Near downtown Sarasota so you know I was Really surprised being at the beach Being a resident I don't go to the beach Very much even though I live around the Corner but there are all kinds of things To do out there there are there's this One TIY boat that goes by and and if you Get your group to join ranks you get on That Tiki boat and and then go up and Down the beach there's people that are Doing Paras Sailing um and Renning sub boards and Renning kayaks and so for so lots to do On the water much fun y That's why we Live here that's why we live here even Though we don't do it every weekend I Walk every day outside every day that's Great all right I think that that pretty Much still come join us call us right Consider resales as much as new Definitely love our new home Partners Yes we do few more coming okay all right Oh yeah we've got lots more coming oh Judy well let's not prolong this but I Went um out to I have I have four new Homes four new home communities that I Did a quick video on that are going to Be price Sensitive and they're selling quick so Look for the video that's coming up soon

On Avalon Woods um Py um is got Avante and then there's Nati and there's another one but Nonetheless we have more and more Information coming to you Judy's on top Of it out there in in Manatee County J I Have a feeling they're gonna all of them Are going to be wanting to hire you soon So don't go there all right she's in Those new home communities we so we sold Yeah I sold a new Villa um Yesterday um and we're waiting to do That video we're just waiting for the Model to be done so um it's like 95% Done oh good okay so folks we're going To keep doing what we're doing we hope You enjoy it appr watch we do all righty Till the next time bye Bye

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