July 2024 Sarasota & Manatee Real Estate Market Update | Price Corrections & Inventory Rise

July 2024 Sarasota & Manatee Real Estate Market Update | Price Corrections & Inventory Rise
Welcome to our July 2024 Sarasota & Manatee Real Estate Market Report! This month, both counties experienced a cooling in market activity compared to July 2023, with longer median times to contract and sale. Inventory levels have risen significantly, leading to a more balanced market and the highest inventory since 2019. The median sale price has decreased year-over-year, signaling price corrections across both counties. Additionally, the median percent of the original list price received by sellers has dropped, giving buyers more leverage in negotiations. Stay tuned for an in-depth analysis of these trends and what they mean for buyers and sellers in Sarasota and Manatee.
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