Indicators show real-estate market in recovery

A real-estate outlook by RE/MAX Alliance Group shows housing inventories in Manatee and Sarasota counties are declining and pending activity is on the rise.

The company today released figures for May that showed listings dropped by 7.4% in Sarasota County and 5.3% in Manatee County, with a year-over-year decline of 23.2% and 19%, respectively.

Pending sales are up by more than 50% in Manatee County compared to last year, and up 38.8% in Sarasota County.

Realtors also are seeing increases in the median sold price for homes. Lakewood Ranch was among the top three improved markets with median sold prices increasing by 25.5% compared to last year. Anna Maria Island saw an increase of 11.5%, while Siesta Key saw a 45.1% increase.

Contact Pam Eubanks at [email protected].