If you’ve been putting your home search on hold because prices and mortgage rates felt out of reach, you’re not alone. Over the past couple of years, many buyers in Sarasota and across Florida have hit pause, waiting for better conditions. But this fall, the market is finally showing signs of becoming a little more affordable.
Here are three key reasons why now may be a better time to buy a home in Sarasota, Lakewood Ranch, or anywhere along the Gulf Coast.
1. Mortgage Rates Are Easing
Earlier this year, mortgage rates were hovering around 7%. Today, they’re closer to 6.3%, and while that may not sound like much, the difference is real. On a $400,000 mortgage, that shift could save you almost $190 per month.
As the Mortgage Bankers Association notes, lower rates have already encouraged more buyers back into the market, with purchase applications reaching their highest level since 2022.
2. Home Prices Are Stabilizing
For years, Sarasota home prices rose rapidly, making it harder for buyers to keep up. The good news is that price growth has slowed to the low single digits, and in some neighborhoods, values have even dipped slightly.
That moderation gives buyers more breathing room to plan their budgets—and in certain cases, more negotiating power.
3. Wages Are Outpacing Prices
According to the Bureau of Labor Statistics, wages are up about 4% year over year. That means paychecks are rising faster than home prices right now. Combined with slightly lower mortgage rates, this shift is helping restore balance for buyers who may have felt priced out just a few months ago.
What This Means for Sarasota Buyers
Affordability is still a challenge, but compared to earlier this year, the numbers are moving in the right direction. Monthly mortgage payments are already about $290 lower than they were just a few months ago.
If you’ve been waiting to buy in Sarasota or Manatee County, this fall could be the right time to revisit your options.
Bottom Line
Lower mortgage rates, slowing home prices, and stronger wages are giving buyers a chance to step back into the Sarasota real estate market. If you’ve been on the fence, this may be your opportunity to turn window-shopping into home-owning.
👉 Ready to see what’s possible for you? Contact SRQ Coastal Living today and let’s explore the best homes available in Sarasota, Siesta Key, Lakewood Ranch, and beyond.
