T
he Sarasota and Bradenton real estate market is experiencing a cooling trend at the start of 2025, according to the Realtor Association of Sarasota and Manatee's latest report. The association found that median sale prices decreased while closed sales increased, indicating a shift in favor of buyers. This trend was also reflected in the time it takes for homes to sell, with both counties seeing an increase in days on market.

    Single-family home sales rose 6.8% from January 2024, with 520 homes sold in Sarasota County and 498 in Manatee County, a 22.1% year-over-year increase. Inventory also increased, up 30.6% year-over-year in Sarasota County and 2,907 active listings in Manatee County.

    Median sale prices dropped: down 1% to $529,750 in Sarasota County and down 8.6% to $480,000 in Manatee County. The extended months' supply of inventory suggests that buyers have more negotiating power, while sellers need to be strategic with pricing.

    The townhouse and condo markets showed varying trends. Sarasota County saw a 15.8% increase in sales, with median time to contract up 51.4% and median time to sale up 8.9%. Manatee County experienced a 7% decline in sales, with median time to contract up 27.7% and median time to sale up 14.1%.

    The report indicates that the local market is becoming less competitive, favoring buyers. "The January 2025 housing market highlights a transition, with increasing inventory and shifting price trends," the report said. "While some property types have seen stronger sales activity, longer selling timelines and price adjustments indicate a move away from the highly competitive market of previous years."