Sarasota & Manatee Real Estate Market Update: Q1 2025

Welcome to the first quarter review of 2025! If you're wondering how our local real estate market is shaping up, grab your sunglasses because even with a few clouds in the sky, it's still looking pretty bright here in Sarasota and Manatee Counties. Let's dive into the highlights, stats, and a little friendly advice from yours truly.

North Port-Sarasota-Bradenton MSA: Q1 2025 Snapshot

• Median Sale Price: $493,000 (down 3.3% from Q1 2024)

• Closed Sales: 3,592 homes (up 3.5% from last year)

• Average Sale Price: $698,877 (down 4.8% year-over-year)

• Inventory: 7,668 active listings (a jump of 28.8% from Q1 2024)

• Months Supply of Inventory: 6.1 months (up 29.8%)

  
  

  

  
  

Translation? We’re moving into a much more balanced market. Buyers, you're no longer speed-dating houses and proposing by dinner time. Sellers, you might need a touch more patience — but priced right, your home is still a hot commodity.

Sarasota County Highlights

• Median List Price: $547,819

• Price per Square Foot: $289

• Average Days on Market: 118 days (Median 77 days)

• Market Action Index: 30 (Slight Seller’s Advantage)

  
  

Inventory is holding steady at around 4,482 listings, and while 58% of sellers have adjusted their price, the majority are still seeing strong activity when positioned correctly. The Sarasota market still leans slightly in favor of sellers, but let's just say the "days of multiple offers before lunch" are taking a little nap.

Fun fact: The luxury market (over $1M) is humming along nicely, with a median price of $1,685,000 and an average time to contract of just 70 days. Not bad for waterfront dreams!

Manatee County Highlights

• Median List Price: $595,000

• Price per Square Foot: $287

• Average Days on Market: 104 days (Median 70 days)

• Market Action Index: 31 (Slight Seller’s Advantage)

  
  

Manatee County is similarly steady, with inventory sitting around 2,973 active listings. Price decreases are happening (57% of listings adjusted), but buyers are actively shopping — and smart sellers are moving homes within a reasonable timeframe.

Pro Tip: Homes priced around $500,000 are moving quickest, while higher-end properties ($1M+) are still seeing healthy, steady demand — especially in communities offering lifestyle perks like golf, boating, and pickleball courts (yes, pickleball still reigns supreme!).

Key Takeaways for Buyers and Sellers

• Buyers:

  • More choices are available. Yay!

  • Time to think (and maybe even sleep on it) before making an offer — but not too long.

  • Negotiations are back on the table. Bring your "let's make a deal" hat.

• Sellers:

  • Price it right the first time. Today’s buyers have options, and no one likes chasing the market downhill.

  • Presentation matters. (Declutter, stage, and maybe freshen up that front door color!)

  • The median list-to-sale price ratio is still strong at around 95%, meaning realistic sellers are getting rewarded.

Q1 2025 Townhouse & Condo Market Recap: The Real Deal in Paradise

If the condo real estate market had a personality this quarter, it would be that of a slightly groggy beach bum—still showing up, but moving a bit slower than usual. Let’s dive into the highlights for the North Port–Sarasota–Bradenton MSA townhouses and condos scene in Q1 2025.

Slower Sales, But Still Steady - We saw 1,526 closed sales, just a slight dip of -1.3% year-over-year. Buyers may be taking their sweet time, but deals are still happening—especially for those who know where to look.

Prices Taking a Breather - The median sale price dropped to $336,375, down 10.3% from last year. Think of it as the market offering a “buy one, get one patience” deal. It's not a crash—just a healthy correction (and maybe a small coffee break).

Time to Tango (with a buyer) - Homes are sitting a bit longer:

• Median time to contract: 54 days (+10.2%)

• Median time to sale: 93 days (+4.5%)Sellers, take note—proper pricing and solid marketing matter now more than ever.

List Price Reality Check - Sellers received about 93.3% of their original list price on average—down just 1.1%. In other words, we’re not in the “lowball everything” era just yet.

Inventory Is Up—Way Up - Active listings rose 23.4% to 4,530, and months’ supply hit 9.0—a 36.4% jump. That’s officially a buyer’s market, folks. So if you're a buyer with a pulse and a pre-approval, you're holding the cards.

Final Word: It’s a Market of Opportunities

While some national headlines might make you think the sky is falling, here on the Suncoast, the real estate sky is mostly blue with just a few clouds drifting by. Whether you're buying, selling, or just curious about your home's value, it's crucial to have the right strategy — and the right expert — in your corner.

Ready to make your next move? Let's chat! I'm "Always Competing For You" to get the best possible outcome in any market.