Mid-priced Homes Getting Harder to Find


Prospective home buyers eying properties around the mid-price range are facing a more arduous search due to very limited inventory, Sarasota Bay Real Estate reports. As of April 2014, the available homes for sale in Sarasota in the $150,000–$200,000 price range stood at just 2.1 months’ supply. Similarly, a 2.8-month supply was estimated for sales-listed homes priced between $250,000 and $300,000. For a balanced market, a 6-month supply is generally considered as the benchmark for residences.

The same difficulty is in store in a hunt for mid-priced homes in Manatee. As of April 2014, listings of single family homes in the $150,000–$199,999 price range declined year over year by 15.8 percent to only 171 available properties for sale. The tight inventory appears unlikely to ease up soon as new listings in April declined by almost 37 percent to just 70 residences.

Residences sell faster

Mid-priced Homes Getting Harder to Find

Buyers seeking to close a deal on Manatee single family homes at the mid-price level will be more successful if they engage the services of an experienced broker. These mid-priced residences are selling fast, with their median days on market estimated at 45 days, down by nearly 12 percent from April last year.

Searching for mid-priced condos and townhouses in Manatee, on the other hand, appears a bit easier for now, as April inventory of units priced from $150,000 to $199,999 rose 3.3 % to 124 units. However, this elbow room in buying alternatives may not last long as new listings have been slow in coming at this price range, posting a year over year decline of 22.5% to just 31 units in April.

Opportunity alerts

With some diligence and the assistance of a seasoned local realtor, buyers can still find some good choices in mid-priced Sarasota homes for sale. One, for instance, has become available in May 2014 at the Woods of Whitfield, a subdivision located near the Sara Bay Golf Club and conveniently close to US 41 (Tamiami Trail) and Interstate 75. This new listing has three bedrooms and two baths within its floor area approaching 1,500 square feet.

The Aberdeen subdivision in Parrish is also a promising destination for those seeking affordably priced residences. The MLS of Sarasota homes for sale currently has five listings here at prices from the mid-$100s up to the low $200s. Three are already on the pending sales list but there’s a newly listed three-bedroom home priced just a shade under $160,000.

Condo, single family home alternatives

Enticing, mid-priced residences can also be found at the popular Meadows of Sarasota located just south of Benderson Park which will host the 2017 World Rowing Championship.

For retirees, the independent living community of Woodmere At Jacaranda in Venice offers affordably priced units in the mid-$100s. One of the sales-listed condos here has two bedrooms and two baths within its living area of 1,362 square feet.