SARASOTA, Fla. (February 21, 2025) – 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-overyear. 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.”
Townhomes and Condos
The townhouse and condo market in Sarasota County saw a 15.8 percent increase in closed sales, with 242 transactions in January 2025. The median sale price fell 17.4 percent to $347,000.
Inventory grew significantly, with 2,463 active listings and an 8.5-month supply, signaling a shift into a buyer’s market. The median time to contract increased by 51.4 percent to 53 days, while the median time to sale rose 8.9 percent to 86 days.
In Manatee County, townhouse and condo sales declined 7 percent year-over-year to 172 transactions, with 58.1 percent of sales being cash purchases. The median sale price dropped 6.1 percent to $335,990.
Manatee County ended the month with 1,714 active listings, equating to an 8-month supply of inventory, further strengthening buyers’ leverage. The median time to contract increased by 27.7 percent to 60 days, while the median time to sale rose 14.1 percent to 105 days.
“Median home prices have adjusted in response to increasing inventory, particularly in Sarasota’s condo market,” added Reynolds. “With townhomes and condos in both counties exceeding eight months of supply, market conditions now favor buyers.”
Summary
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.
In this evolving landscape, the expertise of a REALTOR® is more essential than ever. Whether navigating price fluctuations, strategizing in negotiations, or understanding the impact of increased inventory, working with a REALTOR® ensures that buyers and sellers make informed decisions in a changing market.