Homes Sales Dip While Condo Sales Rise
According to new statistics released by the Realtor Association of Sarasota Manatee, sales of Sarasota County single-family homes dipped 13.2 percent in February, while condo sales increased 9.6 percent. Manatee County, meanwhile, experienced a 10.7 percent decrease in single-family sales, while condo sales shot up 19.5 percent. The inventory of available single-family homes is on the rise in both counties, up 3.7 percent from 2015 in Sarasota and up 7.1 percent in Manatee. Condo inventory has also increased: 17 percent in Sarasota and 18.2 percent in Manatee. Foreclosures and short sales represented 11.5 percent of February single-family sales in the two counties, compared to 24 percent last year, and distressed condo sales made up 6.1 percent of sales, down from 12.1 percent in 2015.