Report for the Month:

Under Construction In Our Metro Area - Lakewood Ranch

Real estate values are rising very rapidly in our metro area. Our region is growing rapidly. This is reflective of our strong economy, and also the number of affluent retirees moving into our region. They have already earned their retirement income, and they bring in a demand for health services, paid for by insurance and Medicare.

______

Prices are rising in the two-county area because supply remains limited. The Sarasota County median sales price for single-family homes reached a new record with a median price of $407,000 in May 2021, a 36.6 percent increase from last year. As for Manatee County, the median price for single-family homes was $400,000 in May, a year-over-year increase of 23.1 percent.

https://www.ourtownsarasota.com/local-housing-market-delayed-by-stay-at-home/

________

Realtor Association Reports Record-Low Inventory, Record-High Prices

The median price for a single-family home in Sarasota County is $407,000; in Manatee County, it’s $400,000.

Record-low inventory has resulted in record-high prices in the Sarasota and Manatee housing market. According to data from Florida Realtors and compiled by the Realtor Association of Sarasota and Manatee (RASM), May 2021 shows an increase in sales from the same time last year, with single-family homes closing within a median of just six days. Realtors in Sarasota and Manatee counties reported a total of 2,584 closed sales in May, an 84.7 percent increase from the same month last year, with 100 percent of properties closing at or above the original list price. Condo cash sales increased by 250 percent in Manatee County and by 152.8 percent in Sarasota. For single-family homes, cash sales increased by 168.9 percent in Manatee and by 154 percent in Sarasota.

https://www.sarasotamagazine.com/home-and-real-estate/2021/06/realtor-association-reports-record-low-inventory-record-high-prices

Other major public improvements include:

Selby Gardens: https://selby.org/about/selby-gardens-master-plan2/

The Bay: https://www.thebaysarasota.org/

Legacy Trail: https://www.friendsofthelegacytrail.org/

We continue our work on various projects:

Our Economic Development Website www.sarasotasistercities.com

Our Gift Catalog giftsforsarasota.blogspot.com

Proposed Tourism Animation animationsarasota.blogspot.com

Proposed Town Square sarasotatownsquare.blogspot.com

Our Sustainable Economic Development Strategy sarasotasustainabledevelopment.blogspot.com

Our Photo Blog photossarasotasistercities.blogspot.com