Sarasota News Events

March 2025 Real Estate Market Report: Trends in Sarasota and Manatee Counties

The REALTOR® Association of Sarasota and Manatee (RASM) has released its March 2025 real estate market report, offering a comprehensive analysis of key trends across both counties. According to data from Florida REALTORS®, the housing markets in Sarasota and Manatee counties each showed their own unique trends, setting them apart from each other and from what’s happening in the rest of the country. Despite these differences, both counties maintained relative balance within the single-family home sector. A balanced market presents valuable opportunities for both buyers and sellers, fostering a healthier and more competitive real estate environment. In today’s evolving market conditions, working with a trusted REALTOR® is essential to navigate opportunities, negotiate effectively, and make informed real estate decisions.

Key Trends in Sarasota/Manatee March 2025:

• Median Sale Price Trends: Median sale prices in Sarasota County continued a downward trajectory across both property types, while Manatee County median prices appear to have stabilized, indicating a potential market bottoming in that region.
• Closed Sales Activity: Single-family home closed sales increased month-over-month in both Sarasota and Manatee counties; however, Manatee County remains below its closed sales volume compared to the same period last year.
• 
  Inventory Growth and Market Balance: Although certain market segments experienced an uptick in closed transactions, active inventory growth continues to slightly outpace demand, resulting in a continued rise in months’ supply of inventory and further shifting conditions toward a more balanced or buyer-favorable market.

 Single-Family Homes

In March 2025, Sarasota County reported 817 single-family home sales, a 38.7 percent increase compared to February and a 13.0 percent increase year-over-year. The median sale price declined by 8.8 percent from March 2024 to $469,450, marking the third consecutive month of price decreases. Cash buyers accounted for 44.7 percent of all closed sales.

Despite the increase in closed sales, inventory levels rose, with a 30.8 percent year-over-year increase to 4,412 active listings, bringing the months’ supply to 6.9 months. The median time to contract and median time to sale decreased slightly from last month to 40 days and 82 days, respectively.

In March 2025, Manatee County reported 668 single-family home sales, a 33.6 percent increase compared to February, but an 8.5 percent decrease year-over-year. The median sale price increased by 1.5 percent from March 2024 to $506,317, the highest median sales price since June 2024. Cash buyers accounted for 32.3 percent of all closed sales.

Manatee County ended March 2025 with 3,256 active listings, representing a 5.2-month supply of inventory. The median time to contract and the median time to sale stayed constant month-over-month to 46 days and 95 days, respectively.

“No two markets are the same, and what we’re seeing in Sarasota isn’t necessarily what we’re seeing in Manatee,” said Debi Reynolds, 2025 RASM President and Managing Broker at SaraBay Real Estate. “Local knowledge matters more than ever, and our REALTORS® bring that critical insight to every client they serve.”

Townhomes and Condos

 In March 2025, Sarasota County reported 324 townhome and condo sales, a 36.7 percent increase compared to February, but a 19.8 percent decrease year-over-year. The median sale price fell 10.2 percent to $346,500, with 68.5 percent of sales being cash purchases.

Inventory continued to grow with 2,714 active listings and a 9.7-month supply, continuing a further shift into a buyer’s market. The median time to contract and the median time to sale remained steady at 46 days and 84 days, respectively.

In March 2025, Manatee County reported 300 townhome and condo sales, a 19.5 percent increase compared to February, and a 6.4 percent increase year-over-year. The median sale price fell 1.3 percent to $338,395, with 52.0 percent of sales being cash purchases.

Inventory held relatively constant from February with 1,816 active listings and an 8.2-month supply. The median time to contract and the median time to sale increased to 62 days and 106 days, respectively.

 Summary

As the market continues to normalize from the post-pandemic surge, rising inventory levels and longer time on market point to greater flexibility and negotiating power for buyers—particularly in the townhome and condo sectors. At the same time, steady single-family home activity and strong cash buyer presence suggest sustained local demand. With distinct dynamics playing out across property types and counties, real estate decisions are becoming increasingly nuanced. As always, consumers are encouraged to work with a REALTOR® who understands the local market and can provide expert guidance through every stage of the transaction.

Monthly reports are provided by Florida Realtors® with data compiled from Stellar MLS. For comprehensive statistics dating back to 2015, visit www.MyRASM.com/statistics.

Real Estate Photography

February  2025 Real Estate Report:

The REALTOR® Association of Sarasota and Manatee (RASM)
has released its February 2025 real estate market report, providing an in-depth analysis of key trends
across both counties. Based on data from Florida REALTORS®, the housing market in Sarasota and
Manatee counties showed a shift toward a more balanced, or even buyer-friendly, environment in
February 2025. Across all property types, sales activity slowed compared to the previous year, while
inventory levels grew, creating more options for buyers. Home prices showed signs of softening, with
declines in median and average sale prices across most segments. Cash sales remained a significant
portion of transactions but trended downward, reflecting changing market dynamics. Additionally, homes
are staying on the market longer, signaling a shift in buyer demand and seller expectations.
Key Trends in Sarasota/Manatee February 2025:

• Falling Median Sale Prices: Property prices have seen slight declines, with Sarasota County
townhouses/condos seeing the largest drop.
• Increased Inventory & Supply: Inventory and months of supply have grown, indicating a shift
toward a buyer’s market.
• Longer Time to Contract & Sale: The median time to contract and sale has increased across all
segments except for Manatee County single family homes, reflecting slower market movement.

Single-Family Homes
In Sarasota County, there were 589 single-family home sales in February 2025, reflecting a 2.1 percent
increase from February 2024. The median sale price declined slightly by 1.5 percent year-over-year to
$499,990, with nearly 43.8 percent of these transactions paid in cash.
Despite the increase in closed sales, inventory levels rose, with a 28.6 percent year-over-year increase to
4,292 active listings, bringing the months’ supply to 6.8 months. The median time to contract and median
time to sale also increased to 46 days and 86 days, respectively.

In Manatee County, there were 500 single-family home sales, marking a 8.6 percent decrease year-overyear. The median sale price dropped 4.8 percent to $475,995.
Manatee County ended February with 3,097 active listings, representing a 4.9-month supply of inventory.
The median time to contract decreased by 19.3 percent to 46 days, while the median time to sale
decreased 6.9 percent to 95 days.
“After years of a strong seller’s market, the increase in inventory and more stable pricing indicate that the
market is shifting toward a more level playing field for buyers and sellers alike,” said Debi Reynolds,
2025 RASM President and Managing Broker at SaraBay Real Estate.

Townhomes and Condos
The townhouse and condo market in Sarasota County saw a 12.2 percent decrease in closed sales yearover-year, with 237 transactions in February 2025. The median sale price fell 12.3 percent to $342,000,
with 71.7 percent of sales being cash purchases.
Inventory grew significantly, with 2,618 active listings and a 9.1-month supply, continuing a further shift
into a buyer’s market. The median time to contract increased by 4.8 percent to 44 days, while the median
time to sale rose 3.7 percent to 85 days.

In Manatee County, townhouse and condo sales increased 28.1 percent year-over-year to 251 transactions,
with 48.2 percent of sales being cash purchases. The median sale price dropped 8.4 percent to $319,990.
Manatee County ended the month with 1828 active listings, equating to an 8.3-month supply of inventory,
further strengthening buyers’ leverage. The median time to contract stayed relatively consistent year-overyear to 51 days, while the median time to sale decreased 5.4 percent to 88 days.
“With more condos and townhomes available and prices trending downward, buyers have a unique
opportunity in today’s market,” added Reynolds. “That said, there are many unknowns, from condo
association fees to insurance requirements, making it critical to work with a REALTOR® who can help
navigate the complexities.”

Summary
Overall, February’s market data suggests a cooling phase for the real estate sector in Sarasota and
Manatee counties. While demand remains steady, increasing inventory and longer time-to-contract trends
indicate a shift away from the highly competitive conditions of recent years. Buyers may find more
negotiating power, while sellers will need to adjust pricing strategies to attract interest. In this evolving
market, working with a REALTOR® is more important than ever. A REALTOR® brings expert
knowledge, market insights, and negotiation skills to help buyers secure the best deals and ensure sellers
position their properties competitively. As the market continues to shift, having a trusted real estate
professional by your side will be essential for making smart, informed decisions.

January 2025 Real Estate Market Report: Trends in Sarasota and Manatee Counties

The REALTOR® Association of Sarasota and Manatee (RASM) has released its January 2025 real estate market report, providing an in-depth analysis of key trends across both counties. Based on data from Florida REALTORS®, the housing market in Sarasota and Manatee Counties for January 2025 reflects notable shifts, including increased inventory, longer sales timelines, and price adjustments across property types.

While closed sales have risen in some segments, median sale prices have generally declined, indicating a more balanced market compared to previous years. The rise in available listings has led to higher months of supply, giving buyers more options and greater negotiating power. Cash transactions remain a significant portion of sales, though they have slightly decreased in some areas compared to last year. The extended time to contract and sale suggests a cooling period in the market, particularly in the townhouse and condo sector.

Key Trends in Sarasota/Manatee January 2025:

• Decrease in Median Sale Prices: Across all property types and both counties, median sale prices have generally decreased year-over-year. Sarasota County’s townhouse/condo market experienced the sharpest decline, while Manatee County’s single-family home prices also dropped notably.
• Increase in Time to Sale & Contract: Homes are taking longer to sell across all segments, indicating a shift in market conditions.
• Closed Sales Growth in Most Segments: Many property types experienced an increase in closed sales, with Manatee County’s single-family homes seeing the strongest growth year-over-year.

Single-Family Homes

In Sarasota County, there were 520 single-family home sales in January 2025, reflecting a 6.8 percent increase from January 2024. The median sale price declined slightly by 1 percent year-over-year to $529,750, with nearly 49.4 percent of these transactions paid in cash.

Despite the increase in closed sales, inventory levels rose, with a 30.6 percent year-over-year increase, bringing the months’ supply to 6.4 months. The median time to contract and median time to sale also increased to 45 days and 85 days, respectively.

In Manatee County, there were 498 single-family home sales, marking a 22.1 percent increase year-over-year. The median sale price dropped 8.6 percent to $480,000.

Manatee County ended January with 2,907 active listings, representing a 4.6-month supply of inventory. The median time to contract increased by 40 percent to 49 days, while the median time to sale rose 14 percent to 98 days.

“While closed sales have increased, inventory growth continues to outpace demand, leading to an extended months’ supply,” said Debi Reynolds, 2025 RASM President and Managing Broker of SaraBay Real Estate. “This shift presents opportunities for buyers while emphasizing the importance of strategic pricing for sellers.”
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The January 2025 housing market highlights a transition, with increasing inventory and shifting price trends favoring buyers in many segments. While some property types have seen stronger sales activity, longer selling timelines and price adjustments indicate a move away from the highly competitive market of previous years.

October 2024 Real Estate Market Report: Trends in Sarasota and
Manatee Counties

November 21, 2024)– The REALTOR® Association of Sarasota and Manatee
(RASM) has released its October 2024 real estate market report, detailing key trends across Sarasota and
Manatee Counties. Based on data compiled by Florida Realtors®, the housing market in Sarasota and
Manatee counties showed clear signs of cooling in October 2024, with decreased sales activity, extended
time to close transactions, and rising inventory across all property types. Median and average sale prices
experienced varied trends, with slight declines for single-family homes and more pronounced drops for
townhouses and condos in both counties. Buyers appeared more hesitant, with fewer cash sales and longer
time frames to contract and sale completion. These shifts indicate a market transitioning away from the
frenzied activity of previous years, reflecting broader economic factors and changing buyer behaviors.
Additionally, the lingering impacts of Hurricane Milton and other recent hurricanes may have contributed
to market disruptions, delaying transactions, affecting property conditions, and influencing buyer
confidence in vulnerable areas.

Key Trends in Sarasota/Manatee October 2024:
• Decreased Closed Sales: Both Sarasota and Manatee counties observed a significant year-over-
year decrease in closed sales across all property types.
• Inventory Increases: Inventory levels rose compared to the previous year, particularly for
townhouses and condos.
• Longer Time to Sale: Median time to sale has extended year-over-year, signaling a slower
market.
• Decline in Cash Sales: Both counties reported reduced percentages of cash sales, indicating fewer
investor-driven purchases.
“The latest marketing reports continue to show a stabilization in the market, month after month. A
decrease in median home prices or longer days on the market shouldn’t be seen as a setback, but rather as
an opportunity for adjustment,” said Tony Barrett, 2024 RASM President and Broker/Owner of Barrett
Realty. “Like any investment, the market experiences ups and downs, but we are holding steady with
relatively minor fluctuations in the numbers, moving towards a more normalized market.”

Single-Family Homes
In Sarasota County, there were 515 single-family home sales in October 2024, a 4.3 percent decrease
from the previous year. The median sales price remained stable at $490,000 compared to last month but
decreased 5.8 percent year-over-year. Cash sales accounted for 39.6 percent of closed sales, a 13.7 percent
decrease from October 2023, suggesting a decrease in investor activity in the county.
Inventory is significantly higher than a year ago, with 2,952 active listings, marking a 21.8 percent
increase from October 2023. The months supply of inventory has remained relatively stable compared to
last month, with 4.7 months of supply in October 2024. The median time to contract in October 2024 was
49 days, a 69 percent increase from a year ago, and the median time to sale increased 34.3 percent to 94
days.

In Manatee County, there were 470 single-family home sales in October 2024, a 22.8 percent decrease
from the previous year and 11.7 percent decrease from September 2024. The median sales price remained
stable at $479,990 compared to October 2023. Cash sales accounted for only 30.2 percent of closed sales,
a 7.9 percent decrease year-over-year.

Inventory in Manatee County also rose significantly, with 2,385 active listings, a 19.6 percent increase
from October 2023. The monthly supply of inventory remained stable at 3.9 months. The median time to
contract in October 2024 was 60 days, a 106.9 percent increase from the previous year and a 27.7 percent
increase from September 2024. The median time to sale increased 36.1 percent to 113 days.
Townhomes and Condos

In Sarasota County, the townhouse and condo market recorded an 18.7 percent year-over-year decrease in
closed sales, with 200 transactions. Cash sales accounted for 67.5 percent of these transactions, a 13.3
percent increase from September 2024, suggesting opportunities for investors in Sarasota condos and
townhomes. The median sale price slightly increased from September 2024 to $385,277, with the average
sales price increasing by 100.8 percent year-over-year to $1,218,391. The dramatic difference in median
and average sales prices indicates that the luxury condo market is doing well in Sarasota.
Inventory for Sarasota townhomes and condos increased 19.7 percent year-over-year to 1,614 active
listings, resulting in a 5.5-month supply of inventory. The median time to contract increased by 87.5
percent year-over-year to 60 days and median time to sale increased 41.1 percent to 103 days.

In Manatee County, townhouse and condo sales dropped by 24.7 percent year-over-year, with 162 sales
recorded. Cash transactions made up 49.4 percent of the sales. The median sale price decreased 11.4
percent year-over-year to $327,990.
Inventory for townhomes and condos in Manatee County increased 39.5 percent year-over-year to 1,285
active listings, leading to a 6-month supply of inventory. The median time to contract increased 150
percent year-over-year to 75 days and median time to sale increased 61.5 percent to 126 days.

Summary
In conclusion, the October 2024 housing market statistics for Sarasota and Manatee counties highlight a
significant shift toward a slower and more cautious market. Declining sales, extended timeframes, and
rising inventory levels point to changing dynamics influenced by broader economic trends and the
aftermath of recent hurricanes like Hurricane Milton. While median prices have shown resilience in some
segments, the overall decrease in activity and buyer engagement suggests a need for adaptability among
sellers and real estate professionals. As the market continues to adjust, the focus will likely shift toward
addressing the impacts of environmental events and fostering stability in a changing housing landscape.
“With the challenges of three hurricanes this summer, rising interest rates, higher insurance premiums,
and a dip in consumer confidence, our area is still in a strong position heading into 2025,” added Barrett.
“Now more than ever, working with a professional REALTOR®—someone knowledgeable and
experienced—ensures you are protected and positioned for success when buying or selling your home.”
Monthly reports are provided by Florida Realtors® with data compiled from Stellar MLS. For
comprehensive statistics dating back to 2015

Sarasota Real Estate 2024:

The REALTOR® Association of Sarasota and Manatee continues to monitor these changes closely, providing valuable insights for both buyers and sellers in the region.

Monthly reports are provided by Florida Realtors® with data compiled from Stellar MLS. For comprehensive statistics dating back to 2015

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2023 Housing Market of Sarasota and Manatee Counties

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November 2023 Sarasota-Bradenton Real Estate Report

Home Sales and Prices Remain Steady in Sarasota and Manatee

The demand for housing in Sarasota and Manatee counties
remains strong despite the higher interest rates and home prices. According to data from Florida
REALTORS® and compiled by the REALTOR® Association of Sarasota and Manatee (RASM),
November showed a continued rise in the month’s supply of inventory, approaching the levels seen
leading up to the pandemic.

Combined sales for both property types in the North Port-Sarasota-Bradenton MSA increased year-over-year
by 26.4 percent to 1,583 sales in November and decreased by 1.6 percent from the previous month.
In Manatee County, single-family home sales increased by 22.2 percent to 550 sales and condo sales
increased by 20.7 percent to 198 sales.

In Sarasota County, single-family home sales increased by 31
percent to 541 sales and condo sales increased by 30.7 percent to 294 sales.
“Closed sales increased by more than 20 percent for properties in Sarasota and Manatee,” said Brian
Tresidder, 2023 RASM President and Vice President of Operations at William Raveis Real Estate.
“Despite the high prices, high interest rates, and insurance concerns, the housing demand in the area
remains strong, keeping home sales and prices steady.”

For single-family homes, the median sale price decreased by 4.1 percent to $485,861 in Manatee County
and increased by less than one percent to $500,000 for single-family homes in Sarasota County.
The median sale price for Manatee condos decreased year-over-year by 1.8 percent to $351,500. For
Sarasota condos, the median sale price increased by 58.8 percent from last year to $547,704.
This record-high price is likely due to more sales this month at a higher price tier. In November 2023, 34
percent of all Sarasota condo sales sold at or above $1,000,000, after the closing of a downtown luxury condo
development.

“The surge in closings and median sale prices in the Sarasota condo market can be directly attributed to
the completion of Sarasota’s newest luxury condo building, marking the culmination of construction and
the closing of a significant portion of the units for sale, providing a boost to the local real estate market,”
added Tresidder. “With new construction, data in the MLS isn’t typically marked as ‘closed’ until the
building’s certificate of occupancy is issued and pending reservations can be completed. That’s why this
month shows an atypical number of Sarasota County condos sold, thus doubling the dollar volume this
month.”

In Manatee County, the dollar volume (sum of the sale prices for all sales during the month) increased
year-over-year by 27.1 percent for single-family homes and increased by 21.4 percent for condos. In
Sarasota, the dollar volume increased by 28.7 percent for single-family homes and increased by 111.9
percent for condos.

The month’s supply of inventory reached a new high for 2023, surpassing any other month thus far. For
single-family homes, the month’s supply of inventory in Sarasota increased year-over-year by 79.2
percent to a 4.3-month supply and increased by 13.3 percent to a 3.4-month supply in Manatee County.
Sarasota condos increased by 133.3 percent to a 4.9-month supply, and Manatee condos increased by 63
percent to a 4.4-month supply.

The inventory of active listings is at its highest for the year, approaching the level of inventory that was
present leading up to the pandemic. There were 7,444 active listings in the MSA at the end of November,
a 53.8 percent increase from the same time last year and a 10.9 percent increase from the month prior.
Broken down for each property type, there were 4,823 active listings for single-family homes and 2,621
active listings for condos in Sarasota and Manatee.

Pending sales, or the number of properties that went under contract during the month, increased year-over-year
for both property types in Sarasota and Manatee. In Sarasota County, pending sales increased
by 1.1 percent for single-family homes and by 21.3 percent for condos. In Manatee County, pending sales
increased by 6.4 percent for single-family homes and 1.8 percent for condos.

At the end of the month, there were 2,600 new listings combined for both single-family homes and
condos in the MSA, a 36.3 percent increase when compared to the previous year. For each property type,
there were 1,668 new listings for single-family homes and 932 new listings for condos in the MSA.

Monthly reports are provided by Florida Realtors® with data compiled from Stellar MLS. For
comprehensive statistics dating back to 2015, visit www.MyRASM.com/statistics.

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October 2023 Real Estate Report: Sarasota Board of Realtors
Sarasota-Manatee Housing Inventory Climbs to its Highest Point for 2023

Housing inventory in both Sarasota County and Manatee County is on the rise, marking the highest number of listings reported this year in October. The latest data, sourced from Florida REALTORS® and compiled by the REALTOR® Association of Sarasota and
Manatee (RASM), indicates an uptick in home sales and an influx of new listings added to the market.

Combined sales for both property types in the North Port-Sarasota-Bradenton MSA increased year-over year by 4.3 percent to 1,608 sales in October. In Manatee County, single-family home sales increased by 6.5 percent to 609 sales and condo sales increased by 7.5 percent to 215 sales. In Sarasota County, single-family home sales increased by 3.5 percent to 538 sales, while condo sales decreased by 1.6 percent to
246 sales. When compared to the previous month, there were 9.2 percent fewer home sales in October
than in September of 2023.

“Compared to the rest of the country where home sales are declining in most markets, our housing market
is telling a different story,” Brian Tresidder, 2023 RASM President and Vice President of Operations at
William Raveis Real Estate. “This month’s data showcases an increase in sales, a rise in new listings, a
leveling of the time from listing to contract, and strong inventory growth – all signs that point toward a
more balanced market in our future.”

In October, median sale prices increased year-over-year for condos but decreased for single-family
homes. The median price for Sarasota condos increased by 10.3 percent from last year to the highest
recorded price in 2023 at $426,500, while the condo price in Manatee County increased by only 0.4
percent from last year to $370,000.

Median sale prices for single-family homes experienced the largest year-over-year percentage decrease
for both counties so far this year. In Manatee County, the median sale price for single-family homes
decreased by 12.8 percent, settling at $479,000, while Sarasota County saw a 3.3 percent decrease,
bringing the price to $520,000 in October.

The month’s supply of inventory reached a new high for 2023, surpassing any other month thus far, and
in some markets, it hasn’t been this high since 2020. For single-family homes, the month’s supply of
inventory in Sarasota increased year-over-year by 77.3 percent to a 3.9-month supply and increased by
17.9 percent to a 3.3-month supply in Manatee County.

Sarasota condos increased by 144.4 percent to a
4.4-month supply, and Manatee condos increased by 65.2 percent to a 3.8-month supply.
“Inventory has been on this steady increase since 2022, and while we’ve hit the highest it’s been all year,
it’s still not quite back to pre-pandemic levels,” added Tresidder. “The good news is that we’ve been
trending upward and we’re getting closer to the benchmark for a balanced market, which is a 5.5-month
supply.”

The inventory of active listings is at its highest for the year with 6,710 active listings in the MSA at the
end of October, a 46.9 percent increase from the same time last year and a 14 percent increase from the
month prior. Across the two-county region, single-family home inventory increased by 32.8 percent to
4,418 active listings, and condo inventory increased by 84.7 percent to 2,292 listings.

New listings continue to rise this month, showing the highest year-over-year percentage growth for 2023
in October. At the end of the month, there were 2,614 new listings combined for both single-family
homes and condos in the MSA, an 18.1 percent increase when compared to the previous month and a 46.3
percent increase when compared to the previous year. Broken down for each property type, there were
1,763 new listings for single-family homes and 851 new listings for condos in Sarasota and Manatee.

Another sign of the market’s return to pre-pandemic activity is the median time from the listing date to
the contract date, with the shrinking year-over-year percentage gains each month. Single-family homes in
Sarasota and Manatee counties went under contract within a median of 29 days, a year-over-year increase
of 45 percent in Sarasota and 20.8 percent in Manatee. For condos, the median time to contract was 32
days for Sarasota and 30 days for Manatee, an increase of 14.3 percent and 36.4 percent respectively.

Sarasota News Events: Real Estate: 2023

September 2023 Home Sales Increase From Last Year’s Hurricane: Sarasota Board of Realtors

Amidst the lingering impacts of Hurricane Ian’s disruption to
Florida’s housing market last September, the latest data from Florida REALTORS® paints a contrasting
picture for September 2023. While closed sales registered an unusually high year-over-year growth,
median prices stayed relatively stable.

In stark contrast to an irregular report caused by disruption from Hurricane Ian in September 2022, this
September marked a striking departure, with remarkably high year-over-year increases in closed sales.
However, the number of closed sales this month hovers around the same level of sales as the two previous
months. The total number of closed sales across the North Port-Sarasota-Bradenton MSA was 1,770 in
September, a 40.1 percent increase from last year and a 0.7 percent decrease from last month.

Median sale prices in September decreased slightly across all markets except for condos in Manatee
County. For single-family homes, the median sale price in Sarasota decreased year-over-year by 0.7
percent to $494,000 and decreased by 2.6 percent to $503,495 in Manatee County. In the condo market,
prices in Sarasota decreased by 1.1 percent to a median $395,750, while Manatee County condos
increased by 3.9 percent to $350,000.

“Despite the current market fluctuations, median sale prices in Sarasota and Manatee counties remain
relatively stable,” said Brian Tresidder, 2023 RASM President and Strategic Growth & Sales Manager at
William Raveis Real Estate. “Home prices are maintaining their value and only experiencing a marginal
decrease from previous highs.”

Combined for both property types in the MSA, there were 5,886 active listings at the end of September, a
35.4 percent increase from the same time last year and a 7 percent increase from the month prior. Across
the two-county region, there were 3,920 active listings reported for single-family homes and 1,966 listings
reported in the condo market.

Notably, Sarasota County reported the highest months’ supply of inventory in 2023, with a 3.5-month
supply for single-family homes and a 3.8-month supply for condos. These figures reflect year-over-year
increases of 66.7 percent and 137.5 percent, respectively. In Manatee County, single-family home supply
increased by 7.4 percent to a 2.9-month supply, while condo supply increased by 73.7 percent to a 3.3-
month supply.

At the end of September, there were 2,214 new listings combined for both single-family homes and
condos in the MSA, a month-over-month decrease by 2 percent. There were 1,545 new listings for
single-family homes, representing a slight 2.9 percent decrease compared to the previous month.
In the condo market, 669 new listings in September showed no change from the previous month, indicating a
somewhat static trend.

“The real estate market in the North Port-Sarasota-Bradenton MSA is a constant ‘tug-of-war’ between
new listings and pending sales,” said Tresidder. “This dynamic is contributing to a slow but steady rise in
the month’s supply of inventory.”

The number of properties that went under contract this month increased from the previous year. In
Sarasota, pending sales for single-family homes increased by 8.2 percent year-over-year, and increased by
8 percent in Manatee. For condos, pending sales increased year-over-year by 7.1 percent in Sarasota and
by 11 percent in Manatee. When compared to last month, pending sales decreased by 7.3 percent for
condos and by 12.3 percent for single-family homes.

Monthly reports are provided by Florida Realtors® with data compiled from Stellar MLS. For
comprehensive statistics dating back to 2015, visit www.MyRASM.com/statistics.

Continued Demand and Low Inventory Keeps Home Prices Steady in
Sarasota and Manatee August 2023

The North Port-Sarasota-Bradenton MSA’s housing market in
August showcased more inventory and higher prices than the previous year, as reported by the
REALTOR® Association of Sarasota and Manatee (RASM) with data from Florida REALTORS®.
Although the region’s sales declined marginally compared to the previous year, Manatee County’s
single-family sales bucked that trend with a 6.9 percent increase.

Combined sales for single-family homes and condos in the MSA decreased year-over-year by 0.67
percent to 1,782 sales in August. In Manatee County, single-family sales increased by 6.9 percent to 616
sales and condo sales decreased by 0.8 percent to 242 sales. In Sarasota County, single-family sales
decreased by 4.9 percent to 645 sales, and condo sales decreased by 5.7 percent to 279 sales.

“One of the unique aspects of our local real estate market is the counterintuitive trend where sales are
down, but property values are on the rise,” said Brian Tresidder, 2023 RASM President and Strategic
Growth & Sales Manager at William Raveis Real Estate. “A few factors contributing to this market would
include our low inventory levels limiting buyers’ options, and the in-migration of people moving to our
area that keeps buyer demand relatively high.” 

Median sale prices for both property types increased year-over-year in the two counties. For single-family
 homes, the reported median sale price in Sarasota increased by 9.2 percent to $519,000, while
Manatee was at $525,000 in August, which showed no change from the previous year. In the condo market,
Sarasota prices increased by 2.8 percent to a median $385,650, while Manatee County condos increased
by 1.8 percent to $358,990.

Combined for both property types in the North Port-Sarasota-Bradenton MSA, there were 5,502 activelistings
at the end of August, a 28.3 percent increase from the same time last year and a 3.6 percent decrease from the
month prior. Across the two-county region, there were 3,652 active listings reported for single-family homes and
1,850 listings reported in the condo market.

“Florida’s enduring desirability as a place to live, a continued influx of residents, its affordability and
spacious housing options compared to the west coast and northeast parts of the county, along with
solid job growth, all bolster a continued buyer demand,” added Tresidder. “However, rising mortgage
rates will continue to be a factor in this market, contributing to fewer sales than in 2021 and early 2022
when rates were closer to three percent.”

While active listing inventory remains relatively low in both Sarasota and Manatee counties, there is
agradual uptick in new listings this month. At the end of the month, there were 2,260 new listings
combined for both single-family homes and condos in the MSA. Broken down for each property type,
there were 1,591 new listings for single-family homes and 669 new listings for condos, representing
a year-over-year increase of 2.3 percent and 15.7 percent respectively.

The month’s supply of inventory has increased year-over-year for the 16th consecutive month. In
Sarasota County, there was a 3.3-month supply for single-family homes and a 3.5-month supply for
condos, a year-over-year increase of 65 percent and 118.8 percent respectively. In Manatee County,
single-family home supply increased by 12 percent to a 2.8-month supply and the condo supply
increased by 83.3 percent to a 3.3-month supply.

Pending sales, or the number of properties that went under contract last month, decreased for both
property types in both counties. For single-family homes, pending sales decreased year-over-year
by 13.5 percent in Sarasota and by 4.9 percent in Manatee. For condos, pending sales decreased by
20.7 percent in Sarasota and by 4.7 percent in Manatee. This is the fifth consecutive month that pending
sales in the condo market have decreased from the previous month.

The median number of days from the listing date to the contract date continues to increase year-over-year.
For single-family homes, Manatee homes went under contract within a median of 33 days, a 153.8 percent
increase from last year, and Sarasota homes went under contract in 31 days, a year-over-year increase of
121.4 percent. The condo market is showing the highest number of days from listing date to contract date
since 2020, with 50 days reported in Manatee County (a 284.6 percent increase) and 46 days reported in
Sarasota County (a 228.6 percent increase).

July Real Estate Report 2023
Sarasota News Events

– In July 2023, real estate activity in the Sarasota and Manatee
region reflects nuanced trends between the two counties. According to data from Florida REALTORS®
and compiled by the REALTOR® Association of Sarasota and Manatee (RASM), Manatee County saw
year-over-year transaction growth, while Sarasota County maintained higher prices. Additionally,
inventory growth showed tempered increases compared to the initial growth that started in 2022, while
there were fewer new listings added to the market by the end of the month.

REALTORS® in the North Port-Sarasota-Bradenton MSA participated in 1,772 sales in July (combined
for single-family homes and condos), a year-over-year increase of two percent. Compared to last month,
closed sales decreased by a combined 19.7 percent for both property types in the MSA.

Year-over-year, closed sales increased in Manatee County but decreased in Sarasota County. In Manatee
County, single-family home sales increased by 10.1 percent to 624 sales and condo sales increased by
22.1 percent to 249 sales. In Sarasota County, single-family sales decreased by 6.6 percent to 633 sales,
and condo sales decreased by 8 percent to 266 sales.

“Despite higher interest rates, the housing market in Sarasota and Manatee counties stays strong due to
low supply and continued demand. The current situation, characterized by a unique buyer-seller ratio with
generally fewer participants on both sides, contributes to fewer transactions but also explains why prices
are relatively stable,” said Brian Tresidder, 2023 RASM President and Strategic Growth & Sales Manager
at William Raveis Real Estate. “While this general trend holds, it’s important to note that transactions in
Manatee County have increased with July marking the third month in a row where we saw a positive
year-over-year increase in closings for both single-family homes and condos. Sarasota, on the other hand,
continues to lag in sales but has a higher median sale price when compared to Manatee.”

Single-family home prices in Manatee County decreased year-over-year by 1.2 percent to $515,000 and
increased by 1.9 percent to $535,000 in Sarasota County. Condo prices decreased by 1.3 percent to
$350,000 in Manatee and decreased by 0.4 percent to $389,500 in Sarasota.

The number of homes that went under contract last month increased year-over-year for condos but
decreased for single-family homes. For condos, pending sales increased year-over-year by 19 percent in
Manatee and increased by 2.9 percent in Sarasota. For single-family homes, pending sales decreased by
0.3 percent in Manatee and decreased by 5.8 percent in Sarasota.

July 2023 shows the lowest number of new listings added to the market so far in 2023. At the end of the
month, there were 2,051 new listings combined for both property types in the North Port-
Sarasota Bradenton MSA, a decrease of 26.6 percent from last year and a decrease of 10.6 percent from June of
this year. Broken down for each property type, there were 1,439 new listings for single-family homes and
612 new listings for condos, representing a year-over-year decrease of 31.2 percent and 12.9 percent
respectively.

“We are still dealing with low inventory numbers in our area, and the lack of new listings could be a key
factor holding our median sales prices close to where they are or possibly seeing them increase if our
inventory levels continue to drop,” added Tresidder. “And while inventory has been growing year-over-year
consistently, the initial uptick in supply that started in 2022 could have been part of a short-term
adjustment period following our less-than-typical market in 2021. The current growth percentages in
inventory might represent a return to a more sustainable and realistic growth trajectory.”

The month’s supply of inventory has increased year-over-year for the 15th consecutive month but is
showing more modest increases in July 2023 when compared to the initial rebound of inventory in 2022.
In Sarasota County, there was a 3.2-month supply for single-family homes and a 3.4-month supply for
condos, a year-over-year increase of 60 percent and 112.5 percent respectively. In Manatee County,
single-family home supply increased by only 8 percent to a 2.7-month supply and condo supply increased
by 77.8 percent to a 3.2-month supply.

Combined for both property types in the North Port-Sarasota-Bradenton MSA, there were 5,309 active
listings at the end of July, a 23 percent increase from the same time last year and a 1.4 percent decrease
when compared to last month. Across the two-county region, there were 3,526 active listings reported for
single-family homes and 1,783 listings reported in the condo market.

The median number of days from the listing date to the contract date continues to increase year-over-year.
For single-family homes, Manatee homes went under contract within a median of 29 days, a 222.2 percent
increase from last year, and Sarasota homes went under contract in 25 days, a year-over-year increase of
150 percent. The condo market is showing the highest number of days from listing date to contract date
since 2020, with 47 days reported in Manatee County (a 422.2 percent increase) and 36 days reported in
Sarasota County (a 260 percent increase).

April Real Estate Report 2023