Home prices in Manatee and Sarasota County continue to fall, according to the latest housing market report.
According to the Sarasota and Manatee Realtor Association, inventory growth will slow down and it will take longer to sell your home.
In Manatee County, 786 detached homes were on sale in May. This is a 1.9% decrease from the previous year. Median selling prices also fell. Compared to May 2024, the price fell 8.9% to $478,195.
Manatee County ended in May with a 5.2-month supply of stock, with median contracts and sales increasing on the 52nd and 98th respectively.
“In both Sarasota and Manatees, we are seeing a healthier pace in the detached house segment,” Devi Reynolds, 2025 president of the Realtor Association, said in a news release. “The market isn’t as enthusiastic as it once was, but it gives everyone, especially first-time buyers, a more fair shot of homeownership.”
Manatee County townhouses and condo sales increased by one unit from the previous year. Last month, 265 townhomes and condos were on sale, with a median selling price of $313,000. This showed a 13.4% decrease compared to the previous May.
Monthly inventory supply rose 7.9 months from 25.4%. The median contract time was 60 days and the median sales time was 99 days.
Sarasota County Housing Trends
In Sarasota County, single-family home sales fell 7.3%, with 788 homes sold compared to 850 people a year ago. The median selling price increased by 12.3% to $465,000.
Monthly inventory supply rose to 6.6 months, up 32%. Median contract time and median sales time also increased, reaching 51 and 93 days respectively.
The trend was similar in townhomes and condos in Sarasota County.
342 townhouses and condos are on sale, representing a 19.1% decrease compared to May 2024. The median selling price fell 12.8% to $321,020. Median contract time decreased to 2 days to 59 days, while median sales time increased to 102 days to 1 day.
Monthly supply increased to 9.2 months, up 46% year-on-year.
“The condo and townhome market continues to experience price softening, driven primarily by higher inventory,” Reynolds said in a news release. “This creates a great opportunity, especially for buyers looking for a second home or investment property.”
