The Commercial Real Estate Alpha Site

Inventory is swelling, urgency is fading and buyers are gaining leverage in a shifting market, according to the latest data.

By Kim Doleatto  via Sarasota Magazine – Click here to view similar stories by Kim & SM.

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.

To read the entire article via Sarasota Magazine – Click here to view similar stories by Kim & SM.