Manatee’s housing market becomes more ‘balanced,’ report says. What does it mean?
The local housing market is shifting toward a balance for buyers and sellers.
According to the Realtors Association of Sarasota and Manatee, the market has cooled compared to 2024 but is stabilizing month-to-month.
While buyers have more negotiating power with homes taking longer to sell and prices have fallen, there is a slowdown in inventory growth to indicate a more balanced market, the report said.
In July, there were 624 single-family homes sold in Manatee County, marking a 9% decrease year-over-year. The median sale price dropped to $489,900, but it rebounded from the previous month’s total of $440,000.
Manatee County ended July with 2,959 active listings, which represents a 4.8-month inventory supply. The median time to sale increased to 58 days from June, while the median time to sale dipped to 102 days from the previous month.
Sarasota County saw 723 single-family homes sold, marking a 12.6% increase year-over-year. The median sale price of $470,000 was the same as June 2024. Inventory levels increased year-over-year by 16.5% to 3,574 listings. That equates to a 5.6 monthly inventory supply. The median time to contract and median time to sale increased from June to 63 days and 105 days, respectively.
“We’re seeing single-family homes remain a steady anchor in our market,” RASM President Debi Reynolds said in a news release. “With Sarasota reporting strong sales and Manatee home prices bouncing back, it’s clear that buyers and sellers are finding more balance in this segment.”
Housing market shifts toward balance
While single-family homes are trending toward a balanced market, the townhome and condo market indicates buyers have more leverage.
In Manatee County, there were 210 townhomes and condos sold, marking a 10.7% decrease year-over-year with a 2.7% drop in the median sale price to $320,000. Inventory levels reached a seven-month supply with 1,517 active listings. That’s a 20.3% increase year-over-year.
The median time to contract and the median time to sale were 70 days and 111 days, respectively.
In Sarasota County, 239 townhomes and condos were sold. That’s a 16.1% decrease year-over-year. The median sale price fell 17.8% to $300,000 year-over-year. The monthly supply is at 7.5 months, with 2,000 active listings. That’s an increase of 12.5% year-over-year. The median time to contract and the median time to sale were 72 days and 113 days, respectively.
“The condo and townhome sector continues to adjust, with Sarasota seeing price declines and Manatee holding steadier,” Reynolds said. “This shows that buyers have more leverage, especially in the higher-supply condo market.”
