Today, we’re diving deep into what’s actually going on in the Sarasota housing market.
If you’ve been online lately (or even just talking to friends), you’ve probably heard some pretty alarming headlines about Sarasota home prices “tumbling.”
Some of it is true. Some of it is way overblown.
So I decided to roll up my sleeves, dig into the real data, and break it all down for you.
Whether you’re thinking about buying or selling — or just want to stay informed — you’re going to want to stick around. This might be the most detailed Sarasota market update you’ll find anywhere right now.
Let’s get into it!
The Headlines Are Loud — But Not Always Accurate
One of the biggest headlines making the rounds recently said:
“Sarasota-Manatee home values tumble, marking one of the biggest drops nationwide.”
And sure enough, if you look at Zillow’s data, Sarasota County is down about 7% — and Charlotte County (just south of us) is down 8%.
Sounds scary, right?
But here’s the thing: Sarasota County isn’t just one place. It’s a collection of cities — Sarasota, Venice, North Port, parts of Longboat Key, Osprey, Nokomis — and every area is behaving a little differently.
Sarasota vs. Venice: Two Very Different Stories
When you look closer:
- In Venice, everything is down — single-family homes, condos, and townhomes.
- In Sarasota, it’s a different story:
- Single-family homes? Barely moved (down less than 1%).
- Condos? Dropped like a rock — down almost 33%.
Big takeaway: You can’t paint the whole county with one brush. Different cities (and even different property types) are moving very differently.
Buyer Activity: Where Things Are Picking Up (and Where They’re Not)
Looking at trends from last year to now:
- We saw a peak in home sales around May 2024.
- Things cooled off late last year (thanks in part to hurricane season), but buyers came back strong around December and January.
- March 2025 showed another spike in home sales.
Is this a new wave, or just a post-hurricane bounce?
We’ll have to keep watching over the next few months but chances are that buyer activity will remainer slower than normal for now.
What About Prices?
Looking at all property types together (houses, condos, townhomes):
- Median prices peaked around est. $605,000 last year.
- Bottomed out in February 2025.
- Now, prices are starting to tick up again.
But — single-family homes have stayed pretty steady all along.
It’s the condo prices that are dragging the overall number down.
Townhomes Are the Unsung Heroes
Here’s something interesting:
- Single-family home sales are basically flat.
- Condo sales are down almost 21%.
- Townhome sales? Up 61%!
Townhomes are becoming the “safe bet” for buyers who are nervous about condos (and for good reason — more on that below).
What’s Going On with Inventory?
In a “normal” market, we’d have about 5–6 months of supply.
Right now:
- Single-family homes: around 5.2 months — pretty balanced but if inventory goes up we will see prices coming down. It is likely for this year.
- Condos: way over 11 months — a clear buyer’s market.
- Townhomes: just 3.75 months — very competitive.
No wonder townhomes are gaining popularity, right?
Why Is the Median Price holding when there many price cuts?
It really comes down to price tiers.
- Homes under $300K: sales are up.
- Homes between $300K–$500K: sales are up.
- Homes $500K–$750K: ouch — sales are down 32%.
That mid-price range relies heavily on mortgage buyers — and with today’s higher interest rates, a lot of buyers in that range are holding off.
Meanwhile, the luxury market ($1.5M+) is booming, mostly because cash buyers aren’t as impacted by rates.
Coastal Areas Are Feeling It the Most
Coastal zip codes like downtown Sarasota (34236) and Siesta Key (34242) are seeing the biggest price drops — over 20% in some cases.
Meanwhile, inland areas like Palmer Ranch and Lakewood Ranch are holding up much better.
Translation:
Buyers are getting smart about value and risk — moving just a little further inland where prices are more stable.
The Condo Market: What You Really Need to Know
If you’re thinking about buying a condo, listen up.
The Surfside Bill (aka SB 4D) changed the game.
Now, older 3-story+ condos (and co-ops) have to go through strict inspections and fully fund reserves — no more kicking the can down the road.
This means:
- Massive new special assessments in some cases ($25K–$100K+).
- Rising condo fees in some cases.
- More buyers running scared.
No surprise, then: Sarasota condo prices have dropped est. 33% in march 2025 vs March 2024 — and chances are we’ve not hit bottom yet.
If You’re a Buyer Right Now…
You’ve got opportunities — but you have to be smart:
- Condos: If you’re considering a condo that’s subject to the Surfside Bill and will need a milestone inspection and reserve study soon, I recommend that you request the inspection and reserve reports before you make an offer.
- Single-family homes: You have way more negotiating power today than you did 2–3 years ago. Negotiate!
- Prioritize move-in ready homes (if you have options) to avoid unexpected renovation costs.
- For best bang for your buck? Look east of I-75 — especially areas south of Lakewood Ranch.
If You’re a Seller Right Now…
Here’s what you need to know:
- Stage your home beautifully — first impressions are everything.
- Price it right from the start — or risk sitting on the market.
- Be transparent about any past repairs or issues.
- Get a pre-listing inspection to head off surprises later.
And remember: the longer your home sits, the more buyers will question it. Don’t give them a reason to hesitate.
Where Are We Headed in 2025?
There’s a lot of uncertainty ahead:
- Condo prices? Still falling.
- Tariffs and rising material costs? Could push new construction prices up.
- Fewer Canadian buyers? Could soften demand in some areas.
- Stock market crash? Luxury market could take a hit.
- Mortgage rates falling? Mid-price homes ($500K–$800K) could see a boost.
There’s a lot that could swing the market — and quickly.
I’ll be doing another update soon once we have a few more months of data.
Final Thought
If you’re buying or selling in Sarasota, the key is having good data and a strong strategy — not just reacting to headlines.
If you want help crafting a plan that actually works for today’s market, let’s connect.
We can hop on Zoom or meet in person — whatever works best for you!
