FOURTH QUARTER 2022
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
TRI-COUNTY SARASOTA MANATEE CHARLOTTE
ONE
MARKET SHARE OF PROPERTIES OVER $1 MILLION | JANUARY 1, 2022 - DECEMBER 31, 2022 BROKER TOTAL SALES VOLUME Michael Saunders $1,764,057,000 CB Residential RE $1,524,405,000 Premier Sothebys Intl $1,108,884,000 RE/MAX Alliance Group $397,487,000 KW on the Water $278,859,000 Compass Florida $224,876,000 KW Classic $188,701,000 Fine Properties $126,115,000 Sarasota, Manatee & Charlotte counties combined. All residential property types. ©2022 Trendgraphix MARKET % 16.93% 14.63% 10.64% 3.81% 2.68% 2.16% 1.81% 1.21%
NUMBER
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*
1,793 605 TOTAL HOMES FOR SALE TOTAL CONDOMINIUMS FOR SALE
CONDOMINIUMS | JANUARY - DECEMBER 2021 VS. JANUARY - DECEMBER 2022 7,021 1,541 1,906 1,793 605 E 70.2% E38.5% E 1.6% G 6.8% G5.2% NEUTRAL MARKET NEUTRAL MARKET 4,124 1,113 1,876 1,923 638 533 CLOSED SALES 533 G9.7% 590 ©2022 Trendgraphix ©2022 Trendgraphix 41 AVERAGE DAYS ON MARKET G 37.3% 65 41 2022 2021 38 AVERAGE DAYS ON MARKET 2021 2022 G44.9% 68 38 2021 2021 2021 2021 2021 2021 2022 2022 2022 2022 2022 2022