Sarasota & Manatee Real Estate Market Update


2025 Trends & Insights

The real estate market in Sarasota and Manatee counties has been a topic of keen interest for homebuyers, sellers, and investors alike. With new market statistics just released, we’re here to break down the numbers and help you understand the current trends, key takeaways, and opportunities for 2025.

As your trusted real estate professionals at Berkshire Hathaway HomeServices Florida Realty, we’re committed to keeping you informed with the latest insights. Let’s dive into what the data tells us about the state of our housing market.

December 2024 Market Performance

Sarasota County Trends

Sarasota County saw an increase in single-family home sales, a promising sign for the housing market:

  • 604 closed sales, up 16.6% from last December.
  • Condo sales, however, declined, with only 256 closings, representing a 20% drop year-over-year.
  • The median price of single-family homes increased to $528,750, while condo prices fell by nearly 18%, now at $384,000.
  • Time to contract for single-family homes rose to 43 days (a 16.2% increase), while condos saw a dramatic rise to 67 days (almost a 200% increase).
  • Housing supply is stabilizing, with a 5.5-month supply for single-family homes (a 25% increase) and a 6.9-month supply for condos (a 33% increase), signaling a shift toward a balanced or buyer’s market.

Manatee County Trends

Manatee County’s real estate market showed a mix of growth and stabilization:

  • 648 single-family homes closed, marking a 6% increase from December 2023.
  • Condo sales increased by nearly 25%, with 216 closings.
  • The median home price dipped slightly to $492,000 (a 1.6% decrease), while condo prices fell to $327,000 (down 6.5%).
  • Time to contract for single-family homes increased to 56 days (a 60% jump), and for condos, it reached 56 days (up 47%).
  • Inventory levels are rising, with a 4-month supply for single-family homes and 6.9 months for condos, reinforcing the market’s shift.

Annual Market Overview – Stability & Normalization

Looking at 2024 as a whole, we see a market that is stabilizing, rather than crashing.

Sarasota County Annual Trends

  • Single-family home sales dropped only 1.6%, a minor shift compared to past fluctuations.
  • Condo sales decreased by 10%, reflecting ongoing challenges in that sector.
  • The median home price for the year was $555,000, down 1.9%.
  • Condo prices dropped by 6.5%, now averaging $383,500.
  • Time to contract increased to 49 days for homes (an 81% rise) and 60 days for condos (a 114% jump).
  • Inventory for single-family homes grew 25%, reaching 5.5 months, signaling a balanced market.

Manatee County Annual Trends

  • 7,485 single-family homes closed, showing 0.1% growth—as stable as it gets.
  • Condo sales declined by 9%, with 2,594 units sold.
  • The median home price was $499,800 (a slight 1.8% decrease), while condos dropped 6.8% to $389,000.
  • Time to contract increased 57% to 52 days for homes and 65 days for condos.
  • Inventory levels increased, reaching 4 months for homes and 6.9 months for condos.

What’s Impacting the Market?

Several key factors are shaping Sarasota and Manatee’s real estate landscape:

1. Condo Market Challenges

New Florida laws requiring higher reserve funds for structural repairs have impacted condo affordability and desirability. Some sellers are reducing prices to accommodate buyers concerned about assessments.

2. Rising Inventory & Buyer Market Shift

With inventory increasing, buyers now have more options and negotiating power—a shift from the aggressive seller’s market of the past few years.

3. Mortgage Rates & Affordability

Although rates have fluctuated, a modest decline is expected in 2025, improving affordability and stabilizing demand.

4. Weather & Natural Disasters

Recent storms affected some coastal properties, contributing to price adjustments and shifts in buyer demand.

5. Post-Pandemic Price Adjustments

While home prices surged during the pandemic, they have now normalized without experiencing a drastic drop.

What This Means for Buyers & Sellers in 2025

For Buyers: A Market with More Options

If you’re looking to buy, 2025 presents opportunities: ✅ More inventory means less competition and better choices. ✅ Lower interest rates could improve affordability. ✅ Now is the time to get pre-approved and act strategically.

For Sellers: Competitive Pricing is Key

✅ Homes must be priced right to attract buyers in a stabilizing market. ✅ Staging and presentation matter more than ever. ✅ Work with an experienced Realtor to navigate shifting trends.

Final Thoughts: Stability & Opportunity

Despite market shifts, Sarasota and Manatee counties remain strong and desirable places to live. The pandemic-driven equity gains still exist, even if sellers don’t see peak prices from 2022.

🏡 Thinking of buying or selling? Reach out—we’re here to guide you through the process.

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📢 What are your thoughts on the 2025 market? Drop a comment below!

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