SARASOTA, FLORIDA, October 28th, 2013 – Activity in the condo market in Manatee has stepped up in recent months, with the momentum of rising sales and prices accompanied by substantially reduced inventory levels. Despite the low availability of Manatee condos for sale, Sarasota Bay Real Estate reports that prospective buyers can still find some great choices of affordable units approximating current median sale prices in the county.
The full service realty firm notes a 20.6% increase in the median sale price of townhouses and condos at Manatee in August to $117,000. This compares with the statewide August median price of $130,000 which rose year over year by 25.2%.
Amid the increased prices, property searchers will have to contend with an inventory of 3.8 months’ supply in Manatee where new listings have declined 3.1% in August. Overall, statewide condo inventory is at a 5.2 months’ supply in August, down 20.2% a year earlier.
With the market below the 6 months’ supply benchmark of a balanced market between buyers and sellers, it is significant to note that condo sales remain brisk. The time that available condominium units stayed on the market in August stood at 59 days in Manatee and 54 days statewide, down respectively from 77 days and from 62 days from last year.
This scenario underscores the necessity of availing of the services of a realtor who can accurately pinpoint pockets of local buying opportunities, according to Sarasota Bay Real Estate which has a pipeline to hourly updates of newly listed residential properties. In the city of Bradenton in Manatee, the full service realtor cites the Meadowcroft condo, a 55+ active community, as one search location where some affordable choices surfaced recently.
This community has several new listings around the Manatee condos’ $117,000 median price range. One has a floor area of 1,248 square feet with two bedrooms and two baths. The other has a similar design of two bedrooms and two baths within its floor plan of 1,014 square feet. There are only about 45 Bradenton condo listings in this price range, with many properties already under contract or in the pending list.
The St. Judes Condo in Bradenton Beach also has rare a buying opportunity at this median price level. This listed unit has a floor plan of 391 square feet with an asking price of $115,000. Fully furnished, it is located only a block away from the beach and a short walk to the Joan Durante Park which provides scenic views of Sarasota Bay.
In Sarasota County where the median condo price for August was estimated at $161,000, there are also some newly available units offered closer to the median price level at Manatee. At Whitaker Bayou, there’s a two-bedroom new listing with a floor area of slightly under 1,000 square feet and priced a shade under $125,000.
What could prove a prized a prized find is a fresh offering at the Vintage Grand on Palmer Ranch. This new listing is for a 972-square-foot unit, designed with two bathrooms and two baths and a tag price of $114,500. The amenities in this condominium community include a clubhouse and a resort-type pool which can definitely spice up a sale
SARASOTA, FLORIDA, October 7, 2019 – Property values of communities in the Sarasota-Manatee region now face lesser threat from neighborhood eyesores brought about by abandoned, foreclosed homes. Known in the real estate trade as zombie foreclosures, these properties have shrunk significantly in the region. According to an August report of ATTOM Data Solutions, abandoned […] more>>