March 2025 Real Estate Market Report: Trends in Sarasota and Manatee Counties

SARASOTA, Fla. (April 24, 2025) – The REALTOR® Association of Sarasota and Manatee (RASM) has released its March 2025 real estate market report, offering a comprehensive analysis of key trends across both counties. According to data from Florida REALTORS®, the housing markets in Sarasota and Manatee counties each showed their own unique trends, setting them apart from each other and from what’s happening in the rest of the country. Despite these differences, both counties maintained relative balance within the single-family home sector. A balanced market presents valuable opportunities for both buyers and sellers, fostering a healthier and more competitive real estate environment. In today's evolving market conditions, working with a trusted REALTOR® is essential to navigate opportunities, negotiate effectively, and make informed real estate decisions.

Key Trends in Sarasota/Manatee March 2025:

• Median Sale Price Trends: Median sale prices in Sarasota County continued a downward trajectory across both property types, while Manatee County median prices appear to have stabilized, indicating a potential market bottoming in that region.
• Closed Sales Activity: Single-family home closed sales increased month-over-month in both Sarasota and Manatee counties; however, Manatee County remains below its closed sales volume compared to the same period last year.
• Inventory Growth and Market Balance: Although certain market segments experienced an uptick in closed transactions, active inventory growth continues to slightly outpace demand, resulting in a continued rise in months’ supply of inventory and further shifting conditions toward a more balanced or buyer-favorable market.

Single-Family Homes

In March 2025, Sarasota County reported 817 single-family home sales, a 38.7 percent increase compared to February and a 13.0 percent increase year-over-year. The median sale price declined by 8.8 percent from March 2024 to $469,450, marking the third consecutive month of price decreases. Cash buyers accounted for 44.7 percent of all closed sales.

Despite the increase in closed sales, inventory levels rose, with a 30.8 percent year-over-year increase to 4,412 active listings, bringing the months’ supply to 6.9 months. The median time to contract and median time to sale decreased slightly from last month to 40 days and 82 days, respectively.

In March 2025, Manatee County reported 668 single-family home sales, a 33.6 percent increase compared to February, but an 8.5 percent decrease year-over-year. The median sale price increased by 1.5 percent from March 2024 to $506,317, the highest median sales price since June 2024. Cash buyers accounted for 32.3 percent of all closed sales.

Manatee County ended March 2025 with 3,256 active listings, representing a 5.2-month supply of inventory. The median time to contract and the median time to sale stayed constant month-over-month to 46 days and 95 days, respectively.

“No two markets are the same, and what we’re seeing in Sarasota isn’t necessarily what we’re seeing in Manatee,” said Debi Reynolds, 2025 RASM President and Managing Broker at SaraBay Real Estate. “Local knowledge matters more than ever, and our REALTORS® bring that critical insight to every client they serve.”

Townhomes and Condos

In March 2025, Sarasota County reported 324 townhome and condo sales, a 36.7 percent increase compared to February, but a 19.8 percent decrease year-over-year. The median sale price fell 10.2 percent to $346,500, with 68.5 percent of sales being cash purchases.

Inventory continued to grow with 2,714 active listings and a 9.7-month supply, continuing a further shift into a buyer’s market. The median time to contract the median time to sale remained steady at 46 days and 84 days, respectively.

In March 2025, Manatee County reported 300 townhome and condo sales, a 19.5 percent increase compared to February, and a 6.4 percent increase year-over-year. The median sale price fell 1.3 percent to $338,395, with 52.0 percent of sales being cash purchases.

Inventory held relatively constant from February with 1,816 active listings and an 8.2-month supply. The median time to contract and the median time to sale increased to 62 days and 106 days, respectively.

Summary

As the market continues to normalize from the post-pandemic surge, rising inventory levels and longer time on market point to greater flexibility and negotiating power for buyers—particularly in the townhome and condo sectors. At the same time, steady single-family home activity and strong cash buyer presence suggest sustained local demand. With distinct dynamics playing out across property types and counties, real estate decisions are becoming increasingly nuanced. As always, consumers are encouraged to work with a REALTOR® who understands the local market and can provide expert guidance through every stage of the transaction.

For information on how this affects your sale or purchase, reach out to me anytime!