Luxury Report

TRI-COUNTY LUXURY MARKET INSIGHTS

• The area’s $1 million-plus luxury market shifted from a seller’s market a year earlier to a neutral market (3-6 months of inventory) in 2022, ending the year with a 4.1-month supply of single-family inventory and 3.5-month supply of condominium inventory.

• Active listings increased significantly, with single-family homes on the market for sale jumping 70% and condominiums up 38%.

• Closed sales for single-family homes rose by 1.6% for the year, while condominium sales dropped by 9.7% and pending sales decreased in both categories.

• Average days on market saw a significant decline for the year overall, falling by 37% for single-family homes and 45% for condominiums, but there was an upward trend in days on market during the second half of 2022.

In Sales Volume

MARKET SNAP SHOT 2022 LUXURY REPORT

SARASOTA, MANATEE & CHARLOTTE COUNTIES

SINGLE FAMILY HOMES | JANUARY - DECEMBER 2021 VS. JANUARY - DECEMBER 2022

7,021

1,906

LISTINGS UNDER CONTRACT LISTINGS UNDER CONTRACT

4.1 3.5 CLOSED SALES

SARASOTA, MANATEE & CHARLOTTE COUNTIES

1,541

MONTHS OF INVENTORY* MONTHS OF INVENTORY*