Manatee Home Market Sets Tone for Realtors’ 100th Year


The Manatee Association of Realtors (MAR) marks its centennial in 2014 with a vibrant residential property market contributing much to the upbeat mood in its celebration of this milestone event. More home buyers and sellers are now getting involved in the residential market in Manatee, as per indications at the start of the year.

In January of 2014, Florida Realtors statistics compiled from MAR members’ reports show that inventory of single family homes in the county stands at a 4.6-month supply, a tenth of a point below the year-earlier level. Nevertheless, more resale homes are entering the market and inventories have been rising since available residences for sale hit a four-year trough in May last year.

Encouraging price gains

Upbeat Manatee Home Market

Healthy gains in resale home prices, along with the onset of the busy spring selling season, are encouraging prospective sellers to bring their properties into the market. For January 2014, single family homes sold in Manatee had a median price of $217,000, nearly 16% above the level in the same month in 2013. The median price of condos and townhouses sold during the same comparative period also rose, notching a year-over-year gain of close to 11% at $170,447.

From the standpoint of prospective buyers, the improving inventory levels come as an incentive. The increase in new listings, to a certain extent, helps temper the advance in resale home prices. Notably, the 4.6-month supply for single family homes in Manatee is inching closer to the 6-month inventory considered as the equilibrium in the market wherein neither buyer nor seller enjoys a pricing advantage. The pullback of big institutional investors from the market, which was evident in recent months, is likewise providing some encouragement to individual buyers.

Fresh on the MLS list

West Bradenton in Manatee would be one ideal destination for home hunters in search of newly listed homes for sale in Manatee. At the Glenn Lakes community here, a pair of new listings was added to the MLS of Sarasota homes for sale sometime in January.

Both are at price levels that approximate the current median sale price of single family homes in Manatee at the low $200s. These two are three-bedroom residences with one built in 1996 and the other in 1998. Their floor areas measure upward of 1,380 square feet.

Iconic Manatee neighborhood

Glenn Lakes could very well be one of the successful local communities that MAR could look back on as the association holds education and evolution-themed events for its 2014 centennial. The development of the Phase I of this subdivision started in 1995. Centex Homes, its primary builder, offered 13 floor plan choices on one-story and two-story homes of all-concrete block construction.

The Estates at Glenn Lakes was developed in late 1999 as the subdivision’s sixth and final phase. The lot sizes and residences in this neighborhood are larger than their predecessors. All told, there are 436 homes in Glenn Lakes, some of which are back to the Manatee County Golf Course. This community has a park with a tennis court and features 11 lagoons and ponds as well.