Discover the latest trends shaping Sarasota and Manatee County housing markets in February 2024, revealing promising opportunities for both buyers and sellers. The data reflects a notable surge in inventory levels, presenting evolving dynamics in Southwest Florida’s real estate landscape.

Key findings from the February 2024 housing market data include:

• Increased Inventory: Manatee County witnessed a significant uptick in active listings for single-family homes, rising by 52.5 percent year-over-year. Similarly, townhouses and condos in Manatee County experienced an 86.9 percent increase in active listings. Sarasota County also saw remarkable growth in inventory for both single-family homes (86.1 percent increase) and condos (128.1 percent increase).
• Balanced Market: With rising inventory, the real estate market is achieving greater equilibrium for buyers and sellers. Median home prices in both counties have seen a modest increase, signaling a healthier, stabilizing market.
• Negotiating Power: The extended days on the market and increased months supply of inventory offer buyers more negotiating power and flexibility in securing favorable purchase terms.
• Continued Demand: Despite the increase in inventory, demand remains robust, evidenced by the rise in total closed sales in both counties.
• Realtor® Guidance: As days on the market lengthen, the role of Realtors® becomes pivotal in negotiating favorable outcomes. Partnering with a Realtor® is crucial in navigating today’s market dynamics, leveraging their expertise for successful transactions.
• Market Insights: The median time to contract has seen notable increases in both counties, emphasizing the importance of staying informed and proactive in the buying or selling process.

This comprehensive analysis, sourced from Florida Realtors® SunStats and compiled by Stellar MLS, offers valuable insights for stakeholders in Sarasota and Manatee County real estate markets. For a deeper dive into historical statistics dating back to 2015, visit www.MyRASM.com/statistics.