The real estate market in Sarasota and Manatee counties continues to evolve, bringing new opportunities and challenges for buyers and sellers alike. In this month’s market update, we explore the key trends shaping the housing landscape and what they mean for you.

A Market in Transition

As we move into 2025, the Sarasota-Manatee real estate market is experiencing significant shifts. While some changes are subtle, others signal a broader transition.

One of the most notable trends is the decline in median sales prices across all property types in both counties. Sarasota County’s townhouse and condo market saw the sharpest drop, while single-family homes in Manatee County also experienced a notable decrease.

Additionally, homes are taking longer to sell. The time from listing to contract has increased across all property segments, a clear indication of shifting market conditions. However, despite these changes, closed sales have been on the rise in most segments, showing continued buyer interest.

Sarasota County Market Trends

Single-Family Homes:

• Closed sales increased by 6.8%, demonstrating strong market activity.
• Median sale price declined by 1%, a relatively small shift but notable nonetheless.
• Time to contract extended to 45 days, indicating a more balanced market.
• Inventory supply grew by 30%, giving buyers more options.
• Cash sales made up 49% of transactions, reflecting the continued influence of cash buyers.

Condos & Townhomes:

• Closed sales jumped 15.8%, reaching 242 total transactions.
• Median sale price dropped to $347,000, a 17.7% decline compared to last year.
• Time on the market increased to 53 days, a 50%+ rise.
• Inventory expanded to 8.5 months, officially marking a buyer’s market.
• Cash buyers dominated at 67% of condo sales, highlighting investor activity.

Manatee County Market Trends

Single-Family Homes:

• Closed sales rose 22%, totaling 498 transactions.
• Median sale price fell 8.6% to $480,000.
• Time to contract stretched to 49 days, up 40% year-over-year.
• Inventory supply increased by 18%, offering more choices for buyers.
• Cash sales accounted for 35.7%, reinforcing strong investor interest.

Condos & Townhomes:

• Closed sales declined 7% to 172 transactions.
• Median sale price dropped 6.1% to $335,900.
• Time to contract extended to 60 days, reflecting a more patient market.
• Inventory levels soared 43%, reaching an 8-month supply—solidly favoring buyers.

What This Means for Buyers and Sellers

With rising inventory and slower sales times, buyers have more negotiating power than in previous years. Sellers must adjust expectations and price homes realistically to attract serious offers. Overpriced properties are sitting on the market longer, while well-priced homes are still moving quickly.

If you’re considering selling, strategic pricing and strong market presentation are key. Homes that are priced right from the start generate interest and avoid prolonged market time.

For buyers, the increased inventory means more choices and better opportunities for negotiation. With interest rates remaining a factor, securing favorable terms on a purchase is more achievable in this shifting market.

Final Thoughts

The Sarasota-Manatee real estate market is in a transition phase, with price moderation and growing inventory trends favoring buyers in many segments. However, the continued strength of cash sales and sustained transaction volume suggest that demand remains present, particularly in key areas.

If you have questions about buying or selling in today’s market, feel free to reach out. We’d love to help you navigate these changing conditions with expert insight and personalized guidance.

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