The Sarasota-Manatee real estate market is undergoing a transformation. With inventory swelling to levels not seen in eight years, urgency is fading, and buyers are finding themselves in a stronger position than they have in recent history.
According to the latest data from the Realtor Association of Sarasota and Manatee, home sales slowed in February 2025, while available listings surged. This shift is creating favorable conditions for buyers, who now have more choices and negotiating power.
A Market That Favors Buyers
For years, Sarasota and Manatee counties have been seller-friendly markets, with limited inventory and competitive bidding wars. However, that landscape is changing. A balanced market typically has four to five months of inventory, yet Sarasota County is now at a 6.8-month supply, while Manatee County stands at 4.9 months.
Realtor.com analyst Hannah Jones recently noted, “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.”
Local real estate expert Drayton Saunders, president of Michael Saunders & Company, agrees. “Right now, we’re in buyer’s market territory. With more options, buyers are taking their time and negotiating better deals,” he says.
Price Adjustments and Slower Sales
The shift is reflected in February’s numbers:
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Sarasota County: The median sale price for single-family homes dipped 1.5% to $499,990, while condo prices dropped 12.3% to $342,000. The median time to contract increased to 46 days.
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Manatee County: Single-family home sales fell 8.6%, with the median price dropping 4.8% to $475,995. Condo sales, however, increased by 28.1%, as prices fell 8.4% to $319,990.
Inventory increases are particularly notable in the condo market. Sarasota County now has a 9.1-month supply, while Manatee County stands at 8.3 months. Stricter reserve funding laws, higher HOA fees, and soaring insurance premiums are pushing more condo owners to sell, increasing supply and softening prices.
Builders and Luxury Markets Respond
With increased competition, homebuilders are stepping up incentives such as mortgage rate buy-downs and amenity packages, especially in Manatee County, where new developments are adding pressure to pricing. The luxury condo sector, particularly for units over $3 million, has also seen a surge in availability, providing affluent buyers with more options and bargaining power.
Hurricane Impact and Market Confidence
Recent hurricanes have influenced market dynamics as well. Some neighborhoods saw an influx of listings from storm-damaged properties, leading to increased supply. However, buyers are now showing renewed confidence, particularly in newer construction that meets strict building codes.
Saunders notes, “If anything, the storms reaffirmed confidence in well-built homes. Buyers looking at waterfront properties now have opportunities where storm-damaged properties have been cleared, creating new investment potential.”
A Return to a Normal, Negotiated Market
After years of rapid price surges and seller-dominated negotiations, Sarasota-Manatee’s real estate market is returning to a more traditional pace. Buyers have more control, and deals are being struck based on careful consideration rather than urgency.
“The days of frantic bidding wars are over,” Saunders says. “We’re back to a negotiated market—what used to be normal before the pandemic-fueled surge.”
For buyers, this means more options, better prices, and stronger negotiation power. And for sellers, it’s a sign that pricing and patience are more crucial than ever in today’s evolving market.
