SARASOTA, Fla. (SNN) — The price of homes in both Manatee County and Sarasota County have decreased in price similar to pre-COVID days.
The median sales price for Manatee County single-family homes decreased 3.1% to $499,000.
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Sarasota County has a median home price of $470,000, which is a 12.1% decrease from the $535,000 median price a year ago.
“We’re seeing the median home price in Manatee and Sarasota County kind of dip a little bit, and that’s because we have a longer days on the market,” said Tony Barrett, realtor and president of RASM. “We have a higher interest rates environment and some difficulties with insurance.”
Barret said more inventory has also helped decrease prices of homes on the market. Inventory numbers increased compared to July 2023 for Manatee Xounty single-family homes.
Active listings rose 55.2% to 2,488, and townhomes and condos saw a 68.1% increase in inventory to 1,261 active listings.