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s the dust settles on a year marked by shifting market dynamics, Sarasota and Manatee counties are emerging into a new era of balance, one that favors buyers with more options and negotiating power. According to the Realtor Association of Sarasota and Manatee's 2024 year-end report, the region is returning to pre-pandemic conditions, characterized by slower transaction speeds and increased inventory.

    Price trends reveal a story of moderation, with prices declining across all property types in both counties compared to 2023. Townhouses and condos took the biggest hit, but single-family homes still boast significantly higher prices than their 2019 counterparts. The median sale price in Sarasota County dipped slightly from $515,000 to $505,000, while Manatee County saw a 1.8% decrease to $499,875.

    Market speed has also slowed, with transaction timelines extending across the board. In Sarasota County, the median time to contract increased by 114.3% to 60 days, and the median time to sale rose by 47.9% to 105 days. Manatee County saw similar increases, with a 57.6% jump in median time to contract to 52 days and a 20% increase in median time to sale to 102 days.

    Inventory levels have also risen, reflecting a shift toward more balanced market conditions. Sarasota County's months' supply increased by 25% year-over-year to 5.5 months, while Manatee County's supply grew by 10% to 4 months. The number of active listings in both counties has also increased, providing buyers with more options and flexibility.

    Despite these changes, challenges persist. Insurance costs continue to rise, and the impact of hurricanes on transactions remains a concern. New condominium laws and the complexities of homeowners' and condominium associations have added new layers of complexity to the market.

    Sarasota County's single-family home sales decreased by 1.6% in 2024, with 7,486 transactions. The townhouse and condo market saw an 10.1% decline in closed sales, with 3,444 transactions. Manatee County, on the other hand, experienced a 0.1% increase in single-family home sales, with 7,485 transactions.

    As the market continues to evolve toward balance, sellers who purchased before the pandemic can still capitalize on significant equity gains. According to Debi Reynolds, 2025 association president and managing broker of SaraBay Real Estate, "While we're seeing a normalization in the market, these trends show the strength of our local market as it evolves toward balance."