A strong May and June is making for a huge second quarter.
The West Bradenton condo market was down for the week and only up 1% for the past 13 weeks largely due to the lack of inventory. May ended with just 257 condominiums on the market, not world record but low none the less. Worse, however was the lack of new listings during May. Only 51 condos were listed during May in West Bradenton, the least amount in any month over the past 10 years.
The big quarter in Downtown Sarasota is being powered by resales. While new construction pendings were up big (10 this year vs only 1 LY), existing home sales were up 35% with huge increases in the over $1M price points.
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