The Sarasota Real Estate Market in May demonstrated continued stability across all price tiers, with the bulk of closings in the $400 – 900,000 range. Double-digit growth in sales over prior year seems to indicate that consumers in that price range, where buyers typically require a mortgage, have adapted to rates above 6%.
Also within the low-mid price points, inventory has been constrained for some time. However, in May new listings volume showed promise that more opportunities will be available for our young professionals and first-time homeowners to enter the market. Sarasota is not alone in this dilemma of meeting demand in that domain, the National Association of Realtors monitors it closely and in its May report cited data that showed first-time owners purchased 35% of the total sales U.S. for the month, the highest in 6 years. Hopefully, Sarasota will follow suit!
In the luxury segment of our market, demand continues to be strong. Though our buyers are far more deliberate in their purchases, those that I am working with are eager to make their move. Luxury sales in May grew yet again as inventory and new listings declined. And of the sales recorded in May, median and average sale prices continued to stay stable compared to the last couple of years. I have mentioned in past reports that a single ultra luxury home sale or completion of a large luxury condominium development can and will create occasional monthly swings, and I expect that to continue.
The decline in listings has brought the luxury market back into a more balanced position. For example, in June of 2025 properties for sale over $1 Million were at a two-year high of 12-months of inventory. At the end of May 2026 that number is now at what is considered a heathier 6.3 months. At the same time, new listings have fallen from a high of 362 in January of this year, to just 199 in May.
The intense demand for ultra-high-end, move-in ready, and waterfront properties is leading to shorter list-to-sale periods for premium assets. But there are also many wealthy discretionary buyers who are taking more time to evaluate their options and refusing to negotiate for unrealistic asking prices. Despite economic and geopolitical uncertainty dominating the news, the luxury buyer is being driven by lifestyle priorities and long-term financial strategies. Along with my colleagues serving the high-net worth buyers, we believe the months ahead will continue to show strong activity at the top of the market.
In the current dynamic real estate market, engaging a seasoned agent or broker with both local and global connections, as well as strong advocacy skills, offers significant advantages. Having served clients in The Sarasota Real Estate Market for over 40 years and carefully analyzing our business conditions, I have developed essential insight to assist both buyers and sellers in achieving their objectives.
Please reach out if you are considering selling your property or buying another – it would be my pleasure to meet with you to discuss your plans. With an understanding of the realities, and drawing on comprehensive market knowledge, expertise in managing client expectations, and proficiency in negotiating transactions for homes and condominiums, I am committed to achieving your goals efficiently and effectively.
Below is a snapshot using data compiled from the Florida Association of Realtors showing May 2026 existing property market activity over $1,000,000 compared to prior year:
And now for my statistical report on the May Sarasota Real Estate Market activity:
Sales
- Total market dollar volume in May was $753.5 million which increased by $73 million from a year ago.
- The number of properties sold was 1,216, 83 more than a year ago. The monthly average for properties sold this year is 1,113. The monthly average in 2025 was 957, 2024 it was 912 and in 2023 was 953.
- Florida’s single-family sales increased marginally from last year, and condo sales were 6.6% above last year.
- U.S. sales of single-family homes rose 3.3% and condos were up 2.8%.
- Of the closed sales in May 147 were over $1,000,000. In 2025 the monthly average was 116, 2024 the monthly average was 124, and during 2023 the average was 126 sales.
- Florida homes sold for more than $1 million were up 16.7% over May 2025, and condos closed at over $1 million increased 23%.
- In May 1,150 listings went to a pending contract, an increase of 12% over last year. Year to date there has been an average of 1,268 pending sales per month. There was an average of 961 monthly pending transactions in 2025, 902 in 2024, and 929 per month in 2023.
- Florida’s single-family pending sales increased 4.8% and condominiums rose 9% compared to last year.
- U.S. pending sales in May were 4.8% ahead of a year ago.
Prices
- Single-family homes were sold at a median price of $475,000. The average monthly median price for houses sold this year is $402,500. The average monthly median price for 2025 was $473,000, in 2024 $505,500, and in 2023 $510,000.
- In May, Florida median price for single-family homes was $425,000, a 2.4% increase from last year.
- The national median price for existing homes rose 1.3% to $434,300.
- The condominium median sale price was $337,000. The average monthly median price for condos sold is $335,800 this year. The average monthly median price for condominiums sold in 2025 was $331,000, in 2024 $382,000, and 2023 $388,000.
- The median price for a Florida condominium in May was $306,990, a 1% decline from prior year.
- U.S. median condominium price grew 1.7% to $378,200.
- Sarasota houses sold on average for $674,000 for the month. The year-to-date monthly average is $731,600. The annual monthly average was $685,000 last year, $715,00 in 2024, and $695,000 in 2023.
- Condominiums sold for an average price of $496,000 last month. The year-to-date monthly average is $520,400. The annual monthly average was $510,000 in 2025, $729,000 in 2024 and $622,500 in 2023.
Inventory
- Currently there are 3,099 properties for sale in Sarasota. At the beginning of this year there were 5,442 listings for sale, 4,426 in 2024 and 2,431 in 2023.
- The Sarasota market had 1,301 new listings in May. The market averaged 1,131 new listings monthly last year, 1,391 in 2024, and 1,318 in 2023.
- Current inventory results in 4.4 months of single-family homes for sale in Sarasota and 7.1 months’ supply of condominiums.
- Florida currently has 4.7 months of single-family inventory and 8.6 months of supply of condominiums. Inventory of properties selling for over $1 million have decreased about 10% from last May.
- U.S. inventory of existing single-family homes has grown 5.2% to 4.5 months of supply and condos are at 4.6 months and fell 28.4% year-over-year.
