Manatee Home Sales Soar – But Is That a Good Thing?

Home sales in Manatee County keep percolating, with May numbers across southwest Florida the highest since 2005.

A total of 2,261 homes were sold in Manatee, Sarasota and Charlotte counties, according to the Sarasota Herald-Tribune.

But the boom in home sales may also be a sign that the market is over-heating. Buyers include baby boomers who held off making a purchase until the economy improved and investors who are creating an inventory of rental homes. There are not many first-time buyers, real estate agents report.

Here are key numbers for home sales in Manatee County, according to the Herald-Tribune:

•  The median sales price increased 24 percent to $217,000 in May 2013 over May 2012. Across Florida, the median sales price was $171,000 for a single family home. 
• The inventory of single family homes is 3.7 months in Manatee, while it is 3 months in Sarasota County.