Listings of Bradenton Real Estate Increase as Price Gains Continue


SARASOTA, FLORIDA, May, 21, 2013 – The real estate market in Manatee continued to exhibit vigor as new listings of available single family homes rose this March, an unbroken uptrend which began in April 2012. Figures from the Florida Realtors Association showed that a total of 401 new listings of residences for sale were recorded based on activities of Manatee realtors in March 2013. This total was up 24.1% from the year-earlier level, the largest gain in a year. In March last year, newly listed properties declined by 1.2% from the same month in 2011.

New sellers are apparently prodded by the continued rise in median sale prices which have been on the advance in the previous 12 months. The gains during this period were broken only by a 2.2% decline in July 2012. This March, the median sales price of Manatee homes for sale rose to $185,000, up 2.8% from the year-ago month. In January and February this year, residential prices in the county registered year-over-year increases of 14.6% and 15.4%, respectively.

Brisk home turnover

price increase

Notably, turnover of properties has also remained brisk as measured by the median number of days that homes sold in a month stayed listed on the market. For March 2013, the median days that sold Manatee residences stayed on the market stood at 49, a decline of nearly 17% from the pace last year. For most of the past 12 months, median days on market have been on the decline for homes sold in Manatee.

Prospective buyers eying Manatee, particularly those wanting to tap one of its principal property markets, Bradenton, will more than ever need to work with expert local Realtors. Such a close partnership is necessary because the home inventory levels in the local market has grown thinner and thinner despite the increased new listings. Inventory, measured in terms of active listings and months supply, has been on the retreat since December 2011.

Supply level favor sellers

There were 1,044 active listings of available Manatee properties this March 2013, down 22% from the year-ago level. This March, a 4.2-month supply was estimated, a year-over-year drop of 35.8%, indicating that the home market has definitely switched toward a sellers’ market.

A balanced market would be at 5.5 months of supply wherein the conditions favor neither buyer nor seller. Levels higher than this benchmark favor buyers while levels lower favor sellers.

Options on home search

Searching for Bradenton homes for sale at attractive prices can very well start at the Country Club Heights. The MLS has a new listing here with an asking price in the low $100s, featuring two bedrooms and two baths in its floor area of 1,400-plus square feet. Another listing in this community had its price reduced to the high $100s, offering a three-bedroom, two-bathroom layout within its floor plan measuring 1,685 square feet.

Other attractively priced Bradenton homes for sale are available at the residential community of Peridia Golf & Country Club. A newly listed property at the Fairway Trace neighborhood of this community has a tag price in the mid-$100s for its floor area of close to 1,350 square feet designed with three bedrooms and two baths.