May 2025 Sarasota & Manatee Real Estate Market Report: Signs of Balance Begin to Emerge
The latest May 2025 housing data from the REALTOR® Association of Sarasota and Manatee (RASM), based on figures from Florida REALTORS®, reveals that the market across both counties continues to transition. While inventory remains higher than this time last year, the pace of that growth is starting to level out. Combined with softening prices and longer days on market, this suggests a more balanced and negotiable real estate environment—especially for buyers.
Key Market Highlights: Sarasota & Manatee – May 2025
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Median Prices Continue to Drop: Home prices declined year-over-year across all property types.
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Inventory Growth is Slowing: While listings remain elevated, the rate of month-over-month growth is starting to taper.
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Homes Taking Longer to Sell: Both time to contract and time to close increased, showing buyers are taking more time before making offers.
Sarasota County: Single-Family Homes
In May, Sarasota recorded 788 single-family home sales, down 7.3% compared to last year. The median sale price dropped to $465,000, a 12.3% decrease from May 2024. Cash buyers made up 35.8% of closings, showing continued interest from investors and second-home purchasers.
Inventory levels fell slightly from the previous month, ending May with 4,144 active listings—a 6.8% monthly decrease and a 6.6-month supply of homes. Homes spent a median of 51 days on the market before going under contract, with total days to close reaching 93 days.
Manatee County: Single-Family Homes
Manatee County saw 786 single-family sales, a 1.9% year-over-year drop. The median price was $478,195, down 8.9% from last year, while 31.2% of buyers paid in cash.
At month’s end, Manatee had 3,212 active listings, reflecting a 5.2-month supply of homes. Homes typically went under contract in 52 days, and closed in 98 days.
“In both Sarasota and Manatee, we’re seeing a healthier pace in the single-family market,” said Debi Reynolds, 2025 RASM President. “It’s no longer a frenzy—and that’s giving more buyers, especially first-timers, a chance to compete.”
Sarasota County: Condos & Townhomes
Condo and townhome sales in Sarasota totaled 342 units, down 19.1% from May 2024. The median price dropped 12.8% to $321,020, and cash sales made up 60.5% of transactions—typical for this segment.
Inventory dipped 6.7% month-over-month to 2,477 active listings, with a 9.2-month supply available. The median time to contract was 59 days, with homes closing in 102 days.
Manatee County: Condos & Townhomes
Manatee’s condo and townhome market saw 265 sales, holding steady with a slight 0.4% year-over-year increase. The median price dropped 13.4% to $313,000, with cash purchases making up 51.3% of the market.
Inventory stood at 1,747 active listings, reflecting a 7.9-month supply. Homes went under contract in 60 days, with a median closing time of 99 days.
“Condo prices are softening as inventory remains high, especially in Sarasota,” said Reynolds. “That creates great opportunities for buyers—particularly those looking for second homes or income properties.”
The Bottom Line
The May 2025 data shows a housing market that’s slowly moving toward balance. For buyers, this means more options and stronger negotiating power. For sellers, realistic pricing and patience are becoming increasingly important.
As always, working with a local real estate expert is the best way to navigate a shifting market. Whether you’re buying your first home, investing in a rental, or selling a longtime residence, a knowledgeable REALTOR® can help guide your next move with confidence.
