By Susan Phelps & Judy Athari – Berkshire Hathaway Florida Realty
The real estate landscape in Sarasota and Manatee Counties is undergoing a subtle but meaningful transformation. Prices are cooling, inventory is rising, and buyers are stepping into a stronger negotiating position. If you’re buying or selling in the Sarasota-Manatee area, understanding the current market trends is essential—and we’re here to break it all down for you.
đź“Š Market Snapshot: Sarasota Single-Family Homes
The Sarasota single-family home market showed a slight year-over-year increase in sales, with 699 homes sold, up 1% compared to June 2024. However, compared to last month, that number is down 2.2%, reflecting the continued monthly softening we’ve seen throughout the year.
- Median Price: $455,000 (down 8.1% YoY)
- List-to-Sale Price Ratio: 92.2%
- Inventory: 3,955 listings (23% higher than last year)
- Months of Supply: 6.3 months
- Median Time to Sale: 99 days
Homes are sitting longer on the market, and sellers are receiving less than their original asking prices, signaling a shift toward a more balanced—if not buyer-favored—market.
📉 Manatee County: Prices Drop Sharply
Manatee County saw 705 single-family home sales, a 3.2% drop from last year and 1.9% down from May. But the most notable figure? The 15.2% drop in median home price year-over-year, now sitting at $440,000.
- List-to-Sale Price Ratio: 94.3%
- Inventory: 3,196 listings (+20.5% YoY)
- Months of Supply: 5.2
- Median Time to Sale: 109 days
For long-time homeowners, equity remains strong—but pricing strategies need to adapt. Testing high price points can backfire, costing valuable time and visibility.
🏢 Sarasota Condo & Townhome Market: Cash is Still King
The condo market in Sarasota is seeing increased inventory and longer days on market, but also a high level of cash activity:
- Sales: 290 (up 2.5% YoY)
- Median Price: $371,950 (down 3.2% YoY)
- Cash Sales: 67.2%
- List-to-Sale Price Ratio: 89.7%
- Inventory: 2,229 listings (+14.8% YoY)
- Months of Supply: 8.3
- Median Time to Sale: 114 days
Buyers—particularly retirees and second-home seekers—are being more selective and are negotiating more assertively.
📉 Manatee Condos: Subtle Shifts, Bigger Inventory
Manatee County’s condo and townhome segment is down slightly in both price and sales:
- Sales: 233 (down 5.3% YoY)
- Median Price: $312,900 (down 9.2% YoY)
- Cash Sales: 46.4%
- List-to-Sale Price Ratio: 92%
- Inventory: 1,623 listings (+22% YoY)
- Months of Supply: 7.4
- Median Time to Sale: 111 days
Sellers are advised to price smartly from the beginning. Overpricing leads to extended time on market and lost momentum—especially with more listings entering the market each week.
🧠What It All Means for Buyers and Sellers
The June data confirms that we are in a transitional market. For buyers, that means more leverage, more inventory, and more time to make thoughtful decisions. We’re seeing offers with repair requests, extended closing periods, and strong negotiation power.
For sellers, success lies in strategic pricing and preparation. Curb appeal, necessary repairs, and accurate pricing are more important than ever. You may have equity, but the days of bidding wars and rapid-fire offers are behind us—for now.
🛠️ Local Insight > Headlines
What’s happening nationally doesn’t always apply locally. That’s why working with real estate professionals who live and breathe Sarasota-Manatee trends is key. We’re constantly using new tools and data to help our clients understand their market—not just the headlines.
Even in a cooler market, activity is heating up. In just the last 10 days, we’ve seen a surge in buyer activity—proof that Florida’s Gulf Coast remains a highly desirable place to call home.
đź’¬ Final Thoughts
Whether you’re planning to buy, sell, or simply stay informed, now is the time to leverage local expertise. We’re here to help you navigate this shifting market with confidence.
📩 Questions about your neighborhood? Drop them in the comments or contact us directly—we’re always happy to share what we know.
Susan Phelps & Judy Athari
Berkshire Hathaway Florida Realty
Sarasota & Manatee Real Estate Information Specialists
Sarasota Real Estate 