Inventory is Rising in Region, But So Are Prices
Even as housing inventory builds in the region, prices in the Sarasota and Bradenton real estate markets continued to climb in August. That could continue for some time as the region remains a sellers market with interested buyers competing for limited stock.
“One of the unique aspects of our local real estate market is the counterintuitive trend where sales are down, but property values are on the rise,” said Brian Tresidder, 2023 RASM President and Strategic Growth and Sales manager at William Raveis Real Estate. “A few factors contributing to this market would include our low inventory levels limiting buyer’s options, and the in-migration of people moving to our area that keeps buyer demand relatively high.”
The latest statistics released by the Realtor Association of Sarasota and Manatee shows a 2.3-month inventory of single-family homes in the two-county area, and a 2.7-month inventory of condo units on the market.
The could climb gradually as sales have, for the most part, slowed. Combines sales…
