The median sale price of a single-family home in Sarasota County is $499,990 and $475,995 in Manatee County. For condos and townhomes, it’s $342,000 and $319,990, respectively.
Even national platforms are taking note: of real estate shifts in Sarasota and Manatee counties. Realtor.com senior economic research analyst Hannah Jones said earlier this month that “home shoppers in Bradenton and Sarasota are in for a treat, with climbing inventory, falling prices, and longer time on market. Buyers are likely to find more seller flexibility as homeowners aim to attract buyer attention.”
She’s right. The real estate market in Sarasota and Manatee counties is settling into a new rhythm—one that favors patience over urgency.
Sales slowed in February 2025 while inventory swelled, creating market conditions not seen in years. According to the latest monthly data from the Realtor Association of Sarasota and Manatee, single-family home sales in Sarasota County edged up slightly from last year, with 589 transactions recorded last month. However, the median sale price dipped 1.5 percent, to $499,990, and inventory climbed nearly 29 percent year-over-year to a 6.8-month supply.
“A balanced market is typically four to five months of inventory. Anything over six months favors buyers, and right now, we’re in that territory,” says Drayton Saunders, a local realtor and president of Michael Saunders & Company.
Homes are also taking longer to change hands, with the median time to contract extending to 46 days and the median time to sale reaching 86 days—up 15 and 6.2 percent, respectively, compared to February of last year.
Manatee County tells a different story. Single-family home sales dropped 8.6 percent in February 2025, to 500 transactions, and the median sale price slid 4.8 percent, to $475,995. Inventory rose to a 4.9-month supply, and while the median time to contract shortened by 19 percent, to 46 days, the time to finalize a sale was longer, at 95 days.
For townhouses and condominiums, Sarasota County saw more dramatic shifts. Sales fell 12.2 percent year-over-year, with just 237 units changing hands. The median price dropped 12.3 percent, to $342,000, and nearly 72 percent of purchases were all-cash deals.
“Insurance costs and interest rates are still influencing buyers. If rates continue to decline, we’ll likely see more financed buyers stepping off the sidelines,” Saunders says. (Currently, the average 30-year fixed mortgage rate hovers around 6.71 percent, while the average 15-year fixed rate is about 5.91 percent.)
The number of available condo listings in Sarasota County surged to a 9.1-month supply as properties took longer to sell—44 days to secure a contract and 85 days to close. That put both statistics up by roughly 4 percent compared to the same month last year.
Owners are also increasingly offloading condos in the wake of recent legislative changes that have made carrying costs more expensive. Stricter reserve funding requirements, introduced after the Surfside tragedy in Miami, mandate that associations maintain higher financial cushions for repairs and maintenance—leading to rising HOA fees. Those costs, coupled with soaring insurance premiums, are pushing some owners, particularly those with second homes or investment properties, to sell.
Manatee County, however, saw an uptick in condo and townhouse sales, with transactions rising 28.1 percent, to 251 sales, last month. That increase may be tied to price drops, with the median sale price falling 8.4 percent, to $319,990. Inventory stood at an 8.3-month supply, reinforcing the advantage for buyers. Meanwhile, the median time to contract held steady at 51 days, while the median time to sale inched down to 88 days, almost 5.5 percent shorter than last February.
The most striking shift is in overall inventory. According to data from housing market research company ResiClub, Sarasota and Manatee counties now have the highest number of available homes on the market since February 2017. Saunders attributes this to a mix of factors. “There’s a lot more in the development pipeline, and that’s adding downward pressure,” he says. “Builders—who have historically been in the strongest selling position—are leading the way with incentives, mortgage rate buy-downs and amenity packages, especially in Manatee County.
“Luxury condos over $3 million offer the most choice,” he continues. “Inventory in that segment has surged with new construction, giving buyers more negotiating power. Buyers have always had to consider multiple factors, and condo fees are definitely part of that equation.”
The evolving market has also played out differently in certain neighborhoods hit harder by recent hurricanes Helene and Milton. “Broadly speaking, we’re seeing buyers who are comfortable making purchases across different segments,” Saunders says. “If you zoom into specific neighborhoods, you’ll notice pockets of change. Take Harbor Acres, for example. Some older canal-front homes that suffered storm damage hit the market in November and December, often sold as-is. That influx of inventory is being absorbed, but overall, Sarasota-Manatee’s value hasn’t changed. Now that we’re past the volatility of last quarter, we’re seeing confidence return.”
But with more choices available, buyers are taking their time. “They feel less urgency,” Saunders explains. “Some are looking now, but thinking, ‘Maybe next month, I’ll find something even better.'”
Hurricane-related concerns appear to have stabilized, however. “The storm prompted some sellers to list, and it may have shifted a portion of the seasonal market, but the broader impact has played out,” Saunders says. “If anything, it reaffirmed confidence in newer construction that meets strict building codes. Buyers looking at waterfront homes, for example, now have opportunities where storm-damaged properties have been cleared, creating new investment potential.”
After years of sellers dictating the terms, the tide has turned. “Buyers have more options than they’ve had in years,” Saunders says. “Even with longer days on market, confidence is coming back, especially in waterfront locations. Last quarter, that wasn’t the case. This is a negotiated market again—what used to be normal before the rapid run-up from 2020 to 2022.”
In other words, the real estate market is no longer running at a sprint—now it’s a marathon.
Check out last month’s report here. Click here for other local real estate statistics.
