The Sarasota and Manatee real estate market is shifting, and we’ve got the latest updates to help you navigate these changes. Whether you’re a buyer, seller, or just keeping an eye on the market, understanding these trends is key. Let’s dive into the data and insights shaping our local housing market this February.

A Market in Transition

We’ve seen some notable shifts in Sarasota and Manatee counties, moving from an extremely active seller’s market to a more balanced and even buyer-friendly environment. While some may claim that the market is in free fall, the reality is far from it. The latest figures tell a different story—one of minor price adjustments and increasing inventory rather than a drastic downturn.

Sarasota County: Single-Family Homes

In Sarasota County, the market remains steady, with single-family home sales seeing a 2.1% increase compared to February 2024. However, the median sales price dipped slightly by 1.5% year-over-year to $499,990. Interestingly, nearly 44% of these transactions were cash purchases, reinforcing strong buyer confidence.

Comparing this to just a month ago in January 2025, we saw a 12% increase in closed sales, while the median sales price declined by 5.6%. Inventory levels continue to rise, with a 28.6% year-over-year increase, bringing the total number of active listings to 4,292, translating to 6.8 months of supply—a clear indication of a buyer’s market. The median time to contract increased to 46 days, while the time to close extended to 86 days, suggesting a more deliberate buying process.

Sarasota County: Condos & Townhomes

The Sarasota condo and townhome market has seen more dramatic shifts. Closed sales dropped by 12.2% year-over-year, with only 237 transactions in February 2025. The median sale price fell significantly by 12.3% to $342,000. With a staggering 72% of condo sales being cash purchases, it’s clear that buyers are still active but are being more selective in their choices.

Inventory in this sector has surged, reaching a 9.1-month supply, firmly placing condos in a buyer’s market. The median time to contract increased to 44 days, and the time to close extended to 85 days, reflecting a more cautious approach from both buyers and lenders.

Manatee County: Single-Family Homes

Manatee County saw a slight decline in sales activity, with 500 single-family home transactions, marking an 8.6% decrease year-over-year. However, month-over-month, sales remained steady, with just two more homes selling in February than in January.

The median sales price dropped by 4.8% to $475,500, while inventory levels rose to a 4.9-month supply, nearing a balanced market. The median time to contract decreased by 19% to 46 days, and time to close shortened slightly to 95 days, indicating a steady but slower-moving market.

Manatee County: Condos & Townhomes

Unlike Sarasota, the Manatee County condo and townhome market experienced a surge in sales activity, with transactions increasing by 28.1% year-over-year to 251 sales. However, the median sale price dropped by 8.4% to $319,990.

With an 8.3-month supply of inventory, buyers have a strong advantage in negotiations. The median time to contract remained relatively stable at 51 days, while the time to close decreased slightly to 88 days. This increase in market movement suggests that well-priced properties are still attracting interest.

What’s Driving Market Changes?

Several factors are influencing these market dynamics:

• Legislative Changes: Ongoing discussions about Florida’s condo regulations are affecting buyer confidence and sales volume. Since the tragic Surfside condo collapse, the state has enforced stricter building assessments and reserve funding requirements, leading to increased costs for many condo owners.
• Insurance Market Adjustments: Florida’s property insurance landscape remains challenging, with new legislation expected to provide some relief. Buyers are taking a cautious approach, waiting to see how these changes unfold.
• Higher Inventory Levels: Increased home and condo listings are providing more options for buyers, leading to longer decision-making times and a shift in negotiating power toward buyers.

What Does This Mean for Buyers & Sellers?

For buyers, the increase in inventory and stabilization of prices means more negotiating power and better choices. Cash buyers, in particular, are taking advantage of market conditions.

For sellers, strategic pricing is more important than ever. Overpricing can lead to extended time on the market and potential price reductions. Consulting with a knowledgeable real estate professional can help you navigate these changes and position your property competitively.

Final Thoughts

The Sarasota and Manatee housing markets are adjusting, but not collapsing. With inventory rising and pricing stabilizing, both buyers and sellers have opportunities in this evolving landscape. As always, working with an experienced real estate professional is key to making informed decisions.

Stay tuned for our next update, where we’ll dive deeper into upcoming insurance changes and how they might impact homeowners across Florida.

If you have any questions about the Sarasota and Manatee housing market, drop a comment below or reach out—we’d love to hear your thoughts!