Condo inventory falling

Imagine a high mountain ski slope.

You push off and have a good fast ride towards the bottom.

That is somewhat what the condominium/townhouse market is looking like for Manatee and Sarasota Counties.

In January of this year there was slightly more than 54 months of inventory for the resale market for condominiums/townhouses in Manatee County.

By May of this year that inventory had dropped to just over 23 months of inventory.

In Sarasota that slope was a little more bumpy with a couple of bunny hops. It started at a high of 44 months of inventory in September of 2007 down to just over 19 months of inventory by May of this year.

A combination of increased demand and lower prices is what moved the bar on inventory way down.

There has been a glut of condos/townhouses on the market compared to single family homes but in both cases the inventory is dropping along with the prices.

Greg Owens PA
Keller Williams Realty of Greater Manatee
941.932.6343
greg@teamworksfla.com