February’s Sarasota Real Estate Market reflected another month of return to a more normalized market. Inventory of properties for sale is hovering in the “balanced” window, which has eased negotiating on both sides and is helping to maintain a modest gap between list and sale price above 93%. Homes and condos are also going under contract in around 60 days, which is considered a reasonable period of time.
The easing of mortgage rates in February led to significant increases in sales in the affordable price points where there is demand from our younger and often first-time homeowner community. As interest rates have returned to the high 6% range in March, the pending sales activity in the lower price tiers will likely see a softer month when the data is released.
Though mortgage rates do not typically influence those purchasing $1+ Million properties, as they typically pay in cash or with private banking solutions, that price tier also saw strong sales. With an increase of 32% in transactions in the luxury tier, it is no surprise that there was also a 20% in rise in all cash sales over prior year. All cash sales in Sarasota normally ranges 45-50% compared to national averages closer to 25-30%.
Pending contracts signed in February increased by more than 15% over prior year. In fact, pending sales have increased 11 of the past 12 months compared to prior year – 8 of those months into double digit growth. As March – June are our peak months for real estate closings in Sarasota, this signals persistent sales growth through our all-important season.
Moving up to the ultra-luxury tier over $3 Million, of which there are many more properties in Sarasota for sale than ever before, demand and sales for these prized properties are impressive. Mind you, this tier is relatively small in comparison to our nearest competitors of Naples and South Florida, but it is becoming an important sector to the Sarasota Market. In January and February Sarasota had 77 such properties go under contract compared to just 42 the prior year.
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, the ability to evaluate and guide client expectations, and expert management in negotiating the purchase or sale of a home or condo, I ensure that your objectives are realized.
Below is a snapshot using data compiled from the Florida Association of Realtors showing February 2026 existing property market activity over $1,000,000 compared to prior year:
And now for my statistical report on the February Sarasota Real Estate Market activity:
Sales
- Total market dollar volume in February was $629.6 million which increased by $99 million from a year ago.
- The number of properties sold was 947, 121 or 6.1% more than a year ago. The monthly average for properties sold last year was 1,006, in 2024 it was 912, and in 2023 it was 923.
- Florida’s single-family sales increased 3.9% from last year, and condo sales were 8.6% above last year.
- U.S. sales of single-family homes declined 1.1% and condos were down 5.3%.
- Of all closed sales in February 140 were over $1,000,000, which was 32% higher than last year. Last year the monthly average was 116, in 2024 it was 124, and during 2023 the average was 126 sales.
- Florida homes sold for more than $1 million were 9.4% higher than February 2025 and condos closed at over $1 million grew over 40%.
- In February 1,315 listings went to a pending contract, an increase of 173 transactions from a year ago. 2025 averaged 961 pending sales per month. There was an average of 860 monthly pending transactions in 2024 and 1,159 per month in 2023.
- Florida’s single-family pending sales increased 4% and condominiums grew 9.1% compared to last year.
- U.S. pending sales in February were about 1% less than a year ago.
Prices
- Single-family homes were sold at a median price of $475,000. The average monthly median price for houses sold last year was $473,000. The average monthly median price for 2024 was $505,500 and in 2023 it was $510,000.
- In February, Florida median price for single-family homes was $412,000, a 0.7% decrease from last year.
- The national median price for existing homes was $401,800, nearly equal to prior year.
- The condominium median sale price was $330,000. In 2025 the average monthly median price for condos sold was $510,000. The average monthly median price for condominiums sold in 2024 was 382,000 and in 2023 it was $387,400. With several ultra luxury condominium developments set to close in 2026, I expect the median prices to increase this year.
- The median price for a Florida condominium in February was $309,000, a decrease of 1.9% from last year.
- U.S. median condominium price grew just under 1%.
- Sarasota houses sold on average for $739,000 for the month. The annual monthly average was $684,000 last year, $695,000 in 2023 and 2022 $683,000. There were 16 properties sold at over $3,000,000 in February – including one for over $10 million – which is bound to skew the averages higher from prior year.
- Condominiums sold for an average price of $522,000. The annual monthly average was $510,000 in 2025, $622,500 in 2023 and in 2022 $563,000.
Inventory
- Currently there are 5,863 properties for sale in Sarasota. At the beginning of 2025 there were 5,442 listings for sale, 4,426 in 2024 and 2,431 in 2023.
- The Sarasota market had 1,560 new listings in February. The market averaged 1,131 new listings monthly last year, 1,391 in 2024 and 1,318 in 2023.
- Current inventory results in 5 months of single-family homes for sale in Sarasota and 8.6 month’s supply of condominiums.
- Florida currently has 4.8 months of single-family inventory and 9.3 month’s supply of condominiums.
- U.S. inventory of existing single-family homes has grown 9.3% and condo inventory has fallen by 23.5%.
