The Sarasota Real Estate Market continued to outperform the state and nation: with growth in sales and pending sales, prices remained nearly unchanged year-over-year, and inventory has tightened.
In Sarasota’s mid-market segment, inventory is down significantly from last year, shortening list-to-sale periods and leaving about four months of supply – typically considered a seller’s market. However, uncertain economic conditions and rising affordability pressures may limit demand among buyers who rely on financing.
Sarasota’s luxury tier has under 8 months of inventory, falling 9% from last month and 13% from last year. Unlike mid-priced properties where 6-months is considered balanced, at the higher price points the norm has always been considerably higher. The segment has averaged 15 months of inventory in August for the last 10 years, excluding the COVID affected 2020-22.
Unlike mid-market buyers, high end purchasers favor the safety of tangible assets and quality real estate investments for wealth preservation during uncertain times. With luxury inventory declining and high net worth clients leaning into turn-key properties I see listings requiring limited improvements, offering prime locations, architectural appeal, modern lifestyle amenities, sophisticated home technology, and competitive pricing moving quickly under contract in the months ahead. Luxury buyers are ever more selective but also prepared to move swiftly on properties that meet their expectations.
Florida Realtors® recently released its Economic Insights with some interesting findings. It said, “Florida continues to attract more net household income through domestic migration than any other state”. The average age of those buyers ranges 55-64 which is generally associated with the country’s pre-retirement years. This group is typically at the peak of its earning potential and has accumulated substantial assets and wealth. As Florida’s economy has added more high income and diversified employment opportunities, these newcomers are relocating their businesses and primary residences to obtain more favorable long term financial benefits than those in the communities they are leaving.
While affordability remains a concern for our younger members of the workforce and elderly on fixed incomes, the growth of higher paying industries and local investment in developing affordable housing is expected to help to improve conditions here in Sarasota. Our extraordinary quality of life, rich cultural offerings, waterfront amenities, high quality schools, exceptional health care and other factors will continue to drive growth in all housing sectors.
The Sarasota real estate market continues to evolve, creating both opportunities and challenges for buyers and sellers. In today’s ever-changing market, the value of partnering with a highly experienced, locally knowledgeable and globally connected real estate professional – and a skilled negotiator and advocate – cannot be overstated.
Having served clients in the Sarasota real estate market for 40 years, and through careful analysis of market conditions, I have developed the experience and insight necessary to help clients make informed decisions and successfully navigate changing market dynamics.
Whether you are considering purchasing a new home, selling an existing property, exploring an investment opportunity, or simply evaluating the current value of your real estate, I would welcome the opportunity to put my experience and market knowledge to work for you.
It would be my privilege to work with you, your family, and your friends in achieving your real estate goals.
Below is a snapshot using data compiled from the Florida Association of Realtors showing August 2026 existing property market activity over $1,000,000 compared to prior year:
And now for my statistical report on the August Sarasota Real Estate Market activity:
Sales Activity
- Total Sarasota market dollar volume for August was $557.2 million, an increase of $14.8 million compared with the same month last year.
- The number of properties sold was 927, 39 more than a year ago. The monthly average for properties sold so far this year is 1,090. By comparison, the monthly average was 957 in 2025, 912 in 2024, and 953 in 2023.
- Florida single-family home sales declined 1.4% from last year, while condominium sales were 1.8% below last year.
- Nationally, existing-home sales reflected 1.1% decline in single-family transactions, while condominium sales were down 2.7%.
- Of the closed sales during August, 99 were priced above $1 million. The monthly average for 2026 is 149, and they were 116 in 2025, 124 in 2024, and 126 in 2023.
- Florida homes selling for more than $1 million were 8.8% higher than in the same month of 2025, while condominium sales above $1 million fell 3.2%.
- In August, 963 properties went under contract, an increase of 44 transactions compared with the same month last year. Year to date, there has been an average of 1,162 pending sales per month. The monthly average was 961 pending transactions in 2025, 902 in 2024, and 929 in 2023.
- Florida single-family pending sales decreased 2.8%, while condominium pending sales rose 1.2% compared with last year.
- Nationally, pending home sales in August were 4.7% lower than the same period a year ago.
Prices
- The median sale price for Sarasota single-family homes was $470,000. The average monthly median price so far this year is $484,000. By comparison, the average monthly median price was $473,000 in 2025, $505,500 in 2024, and $510,000 in 2023.
- In August, Florida’s median single-family home price was $415,000, representing a 1.2% increase from the same month last year.
- Nationally, the median price of an existing home grew 1.7% to $434,800.
- The median sale price for Sarasota condominiums was $310,000, a 3.3% increase from prior year. The year-to-date average monthly median price is $334,000. The average monthly median price was $331,000 in 2025, $382,000 in 2024, and $388,000 in 2023.
- The median price for a Florida condominium last month was $298,000, a 2.8% increase from last year.
- Nationally, the median condominium price grew 1.5% to $371,600 from the prior year.
- Sarasota single-family homes sold for an average of $670,413 during the month. The year-to-date monthly average is $728,000. The annual monthly average was $685,000 in 2025, $715,000 in 2024, and $695,000 in 2023.
- Sarasota condominiums sold for an average of $442,000 last month. The year-to-date monthly average is $528,000. The annual monthly average was $510,000 in 2025, $729,000 in 2024, and $622,500 in 2023.
Inventory
- There are currently 4,278 properties available for sale in Sarasota. At the beginning of this year, there were 5,442 listings, compared with 4,426 in 2024 and 2,431 in 2023.
- Sarasota had 1,103 new listings come onto the market during August. The market averaged 1,131 new listings per month in 2025, 1,391 in 2024, and 1,318 in 2023.
- Current inventory represents approximately 3.7 months of supply for single-family homes and 5.2 months of supply for condominiums.
- Florida currently has 4.3 months of single-family inventory and 7.7 months of condominium inventory. Inventory of Florida properties selling for more than $1 million has decreased approximately 11% compared with last year.
- Nationally, inventory of existing single-family homes has grown 6% compared with last year, while condominium inventory has grown 2.1%.
