Sarasota-Manatee home sales market sizzles

May was another torrid sales month for the residential real estate market in the Sarasota-Bradenton region.

There were 1,182 sales in Sarasota County in May — only 42 sales less than April's all-time monthly record, according to a new report from the Realtor Association of Sarasota Manatee. In Manatee County there were 827 total sales, up from 813 in April and 752 in May 2014, the association reports.

More good news: Median sale prices are also trending up. The median sale price increased 20% for single-family homes in Sarasota County and 14.3% in Manatee County in May over May 2014. Condo sales increased 20% in Sarasota County and 1.5% in Manatee County.

Association officials say all the data, combined, points toward a record-breaking year in 2015.

“Perhaps the best news in all of these positive numbers is the overall economy and what is fueling this real estate market,” Association President Stafford Starcher says in a statement. “Many reports from experts across the nation point to the growth in employment as the leading fundamental behind this surge.”

On inventory, the two-county region remains below the 6-month level that defines a market in equilibrium between buyers or sellers, the report adds. The figures now stand at between 3.8 and 4.3 months for both counties and for both property categories.