The latest market report from the REALTOR® Association of Sarasota and Manatee reveals that the real estate landscape across both counties is entering a new phase—one that leans more favorably toward buyers. February’s data shows softening prices, rising inventory, and slower market movement, signaling a shift from the frenzied seller’s market of recent years to a more balanced playing field.
Single-Family Homes: Adjusting Expectations
In Sarasota County, closed sales of single-family homes rose slightly—up 2.1% year-over-year—while the median sale price dipped 1.5% to $499,990. Inventory surged by 28.6%, pushing months of supply to 6.8, a notable sign of a transitioning market. Homes are also spending more time on the market, with a median of 46 days to contract and 86 days to close.
Manatee County told a slightly different story, with sales falling 8.6% and the median price down 4.8% to $475,995. However, despite the drop in sales, homes moved faster: time to contract dropped 19.3%, and time to sale decreased by 6.9%. Still, inventory rose here as well, indicating more choices and negotiating power for buyers.
Condos and Townhomes: Buyer’s Market in Full Swing
Sarasota County’s condo and townhome sector saw the most dramatic cooling. Closed sales fell by 12.2%, and the median sale price declined by 12.3% to $342,000. The inventory here ballooned to a 9.1-month supply, clearly favoring buyers. Time to contract increased slightly to 44 days.
In contrast, Manatee County condo and townhome sales increased by 28.1%—a rare bright spot. But even here, median prices dropped 8.4% to $319,990, and inventory still swelled to an 8.3-month supply.
What It All Means for Buyers and Sellers
According to RASM President Debi Reynolds, this data reflects a market that's finding its footing after years of rapid price appreciation and limited inventory. Buyers now have more options, more leverage, and potentially more time to make decisions. But with downward pricing pressure and increased time on the market, sellers must approach pricing and marketing with care.
Navigating the Market with Confidence
In a shifting market, working with a knowledgeable real estate professional is more important than ever. Whether you’re buying and want to take advantage of favorable conditions, or selling and need guidance on pricing strategy, The Schafers are here to help you navigate every step with confidence and clarity.
