Sarasota & Manatee Real Estate: Why 2025 is the Year Buyers Take Control

by Adam Miller

Sarasota & Manatee Real Estate: Why 2025 is the Year Buyers Take Control

The real estate landscape in Sarasota and Manatee counties is shifting towards conditions that favor buyers, according to recent data. The Realtor Association of Sarasota and Manatee's 2024 year-end report indicates a return to pre-pandemic market dynamics, with homes taking longer to sell and an increase in available listings. These trends suggest that buyers now have more options and greater negotiating power than in recent years.

Key findings from the report include:

Price Trends: Both counties saw price declines across all property types in 2024 compared to 2023, with townhouses and condos experiencing more significant drops than single-family homes. Despite these decreases, prices remain substantially higher than during the pre-COVID boom in 2019.
Market Speed: The pace of transactions has decelerated, with notable increases in both time to contract and time to sale year-over-year. These extended timelines, reminiscent of 2019, indicate a normalization of the market.
Inventory and Supply: There has been a rise in inventory and months' supply across all segments, signaling a shift towards a more balanced or buyer-friendly market.

The report also highlights challenges such as rising insurance costs and the impact of hurricanes on transactions, adding complexity to the market. New condominium laws and the intricacies of homeowners and condominium associations require careful consideration.

the 941 lifestyle group

In Sarasota County, 2024 saw 7,486 single-family home sales, a 1.6% decrease from the previous year. The median sale price slightly declined from $515,000 in 2023 to $505,000 in 2024, though this represents a 74% increase since 2019. The county's housing supply increased to a balanced 5.5-month supply, up from 4.4 months in 2023.

Manatee County experienced a marginal increase in single-family home sales, totaling 7,485 in 2024. The median sale price decreased by 1.8% year-over-year to $499,875 but has risen 57.2% since 2019. The county ended the year with a 4-month supply of homes, indicating a more balanced market.

As a luxury real estate agent in Lakewood Ranch, Florida, my team and I specialize in matching prospective homeowners with communities that align with their desired lifestyles and amenities. Given the evolving market conditions, we are well-equipped to guide buyers and sellers through these changes, ensuring informed decisions that meet our clients' unique needs.

For more detailed insights, you can read the full article here:

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