Lower-Priced Manatee Homes Selling Quickly


SARASOTA, FLORIDA, December 23rd, 2013 – Prospective home buyers of properties in Manatee at listed prices under the $200s need to act quicker on buying opportunities. Sarasota Bay Real Estate reports that sales-listed residences in this low-end segment currently don’t stay too long in the market. The inventory of these homes is declining sharply as well, the realty firm adds.

In September, the median days on market (DOM) of Manatee homes for sale in the $150,000–$199,000 range stood at 20 days, down 64.3% from a year earlier. Similar year-over-year drops on DOMs at this price range were also observed in July and August.

As of end-September, active listings at this price bracket totaled just 178 single family homes, down 33.6% from last year’s level.  July and August also saw double-digit inventory declines in this particular market segment. Significantly, majority of these listed homes are already on pending sales on the current MLS.

Where the fresh offerings are

New listings of homes at this price range was also relatively slow in September with only 87 new offerings in the market, up 6.1% compared to the same month last year. Nonetheless, this was an improvement from just a 1.8% gain in August and a 7.8% drop in July.

Some of these newly available properties are offered at the Cordova Lakes located in West Bradenton. These homes, some of which are bank-owned or foreclosed properties, have floor plans ranging from 1,350 to 1,600 square feet designed with two to three bedrooms.

The Golf Course Estates of Bradenton Country Club has a rare new listing priced just a shade under $155,000. Built in the mid-1950s, this new market offering has three bedrooms and two baths within its floor plan of 1,500-plus square feet.

Community launch looks perfect


In East Bradenton, local builder Rinehart Homes appears to have timed perfectly its launching of affordably priced homes at The Cottages at San Casciano. This 28-acre new development is located just west of Interstate 75. It has 98 home sites and its residences are priced starting at the $120s. The company acquired this acreage in March last year for about $2.4 million.

Sales in this community opened in January, and as of September, one-third of its lots have been sold. Already built were two model homes with three bedrooms and two baths within their floor plans of nearly 1,400 square feet. One is priced at $145,900 and the other carries a $159,900 price tag.

Six spec homes are also set for completion in this neighborhood which doesn’t have community district development (CDD) fees. This neighborhood’s other selling features include irrigated lawns, quality residential construction, and energy-efficient home designs. A new park was also built recently near this neighborhood.

Some Sarasota options

It has a sister community in Sarasota—The Cottages at Blu Vista. Only three properties are currently available in this related property. These homes are priced in the low $200s and feature floor plans of about 2,000 square feet.

Notably, this locality is also a potent hunting ground for buyers seeking affordable Sarasota homes for sale. At the Palm Aire Country Club, a short distance northwest of Blu Vista, there’s a newly listed two-bedroom home having a floor plan of 1,468 square feet and priced at $155,000.