As the car carriers line Gulf of Mexico Drive hauling vehicles for our seasonal residents returning from their summer sojourns, traffic is beginning to grow a bit, shops are busy as residents prepare for the active event season, and restaurants are bustling. It has been an unusual summer here in Sarasota. August and September were some of the quietest I remember in my nearly 45 years here.
With slowing sales in the Sarasota Real Estate Market this summer and price appreciation decelerating, sellers who don’t have to sell either took their properties off the market or postponed listing to wait out this period. However, September’s growth in both total property sales and pending contracts signed are a positive signal for the months ahead. The good news is that in the last few weeks there have been some wonderful new listings (or improved re-listings), and buyer interest has risen noticeably!
In my agent circles we have talked a great deal about how last year’s record storm season affected our region, and specifically our real estate market. Late summer and early fall of last year the area was reeling from the terrible flooding caused by Hurricane Debbie, and September and October’s Hurricanes Helene and Milton that ravaged our communities.
This year it is suggested our softer summer selling season was likely a result of a wait and see mentality after last year’s difficult storms. Many part-time residents delayed their return to the region and potential buyers sat on the sidelines awaiting the passing of the hurricane season. With one month left, we are optimistic that good weather will boost market activity.
September showed great promise with market stability at the luxury price tier, and a significant improvement in sales in the $200-400,000 category, as well. Several luxury condominium projects are well underway with solid pre-sales, and there is great anticipation for other developments in the planning stages that are yet to come online.
Although comparisons to prior year market performance remain challenging due to storm impacts, pending sales have increased once again this month, indicating ongoing recovery. Additionally, for buyers seeking financing, the recent easing of mortgage rates is expected to further spur market activity.
For those seeking properties in the higher price tiers, with the strong stock markets and growing housing wealthy, I expect the season ahead will experience strong demand for distinctive properties. It is expected that price appreciation will moderate, and we will see continued growth in new listings. Sellers are no longer in the driver’s seat and will need to be strategic and prepared for savvy buyer negotiations.
As the Sarasota housing market and economic conditions are always shifting, partnering with an agent who follows our nuanced local conditions is essential to make informed decisions based on your goals. My approach to serving my clients is tailored to offer discreet and attentive representation for each client’s unique requirements.
At Michael Saunders & Company, our Global Partners provide valuable resources for marketing listings and engaging both international and domestic buyers. With forty years of experience in the Sarasota Real Estate Market, I offer informed guidance to help clients achieve their real estate objectives. My comprehensive understanding of market dynamics, ability to manage expectations, and skill in negotiation support successful property transactions. Additionally, my broad network of industry professionals—including architects, designers, contractors, and service providers—enhances the overall client experience. I welcome the opportunity to assist you, your family, or friends with buying or selling property.
Below is a snapshot using data compiled from the Florida Association of Realtors showing September’s 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
- Total market dollar volume in September was $513.7 million, which decreased by $79 million from a year ago, entirely due to the condominium category. Sarasota had sales volume growth of almost 30% in the single-family segment, but the condo sector had flat sales to prior year and experienced a considerable decline in median price for the month causing a 60% drop in condo total volume.
- The number of properties sold in September was 876, 133 more than a year ago. The monthly average for properties sold this year is 974. The monthly average in 2024 was 912, in 2023 was 953, and in 2022 it was 1,004.
- Florida’s single-family sales increased 25.9% last year, and condo sales were virtually equal to prior year, mirroring Sarasota’s results.
- U.S. sales of single-family homes rose 2.3% and condos sales were also equal to last year.
- Of the closed sales in September, 125 were over $1,000,000. In 2024 the monthly average was 124, during 2023 the average was 126 sales and in 2022 the average was 111.
- Florida homes sold for more than $1 million were 7% higher than September 2025 and condos closed at over $1 million rose 8.4%.
- In September 881 listings went to a pending contract, an increase of 134 transactions from a year ago – single-family contracts rose 23% and condos increased 6.6% over prior year. Year to date there has been an average of 999 pending sales per month. There was an average of 860 monthly pending transactions in 2024, 1,159 per month in 2023 and 968 per month in 2022.
- Florida’s single-family pending sales decreased 2.8% and condominiums increased 6.6% compared to last year.
- U.S. pending sales in July were down 1% from a year ago.
Prices
- Single-family homes were sold at a median price of $450,000. The average monthly median price for houses sold this year is $476,000. The average monthly median price for 2024 was $505,500, in 2023 it was $510,000 and in 2022 it was $493,0000.
- In September, Florida median price for single-family homes was $410,000, equal to last year.
- The national median price for existing homes grew 2.3% to $420,700.
- The condominium median sale price was $315,000 in Sarasota, down from $380,000 prior year. The average monthly median price for condos sold is $331,000 this year. The average monthly median price for condominiums sold in 2024 was 382,00, in 2023 it was $387,400 and in 2022 $383,000.
- The median price for a Florida condominium was $299,000, a 4.8% decrease from September 2024.
- U.S. median condominium price declined 0.6% to $360,300.
- Sarasota houses sold on average for $646,000 for the month. The year-to-date monthly average is $690,000. The annual monthly average was $715,00 last year, $695,000 in 2023 and 2022 $683,000.
- Condominiums sold for an average price of $419,617 in September. The year-to-date monthly average is $468,000. The annual monthly average was $729,000 in 2024, $622,500 in 2023 and in 2022 $563,000.
Inventory
- Currently there are 4,957 properties for sale in Sarasota. At the beginning of this year there were 5,391 listings for sale, 4,426 in 2024 and 2,431 in 2023.
- The Sarasota market had 1,092 new listings in the past month. The market averaged 1,474 new listings monthly this year, 1,391 in 2024, 1,318 in 2023 and 904 in 2022.
- Current inventory results in 4.8 months of single-family homes for sale in Sarasota and 6.8 months’ supply of condominiums.
- Florida currently has 5.1 months of single-family inventory and 9.1 month’s supply of condominiums.
- U.S. inventory of existing single-family homes is 4.4 months of supply and has grown 13.4% over last year, and condo inventory is 6.5 months of inventory and up 15%.
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