The housing market in Sarasota and Manatee counties continued its cooling trend in June, with sale prices dropping, inventory climbing and homes sitting longer before closing. According to the latest data from the Realtor Association of Sarasota and Manatee, the shift marks a more favorable landscape for buyers than at any point in recent years—even as prices remain well above pre-pandemic norms.
Single-family home prices fell sharply in both counties year-over-year, with Manatee County posting the steepest decline. There, the median sale price dropped 15.2 percent, to $440,000, while in Sarasota County, it fell 8.1 percent, to $455,000. Despite the declines, both figures remain roughly 35 percent to 55 percent higher than in 2019—a year often considered a “healthy benchmark” before pandemic-era spikes took hold—when the median single-family price was $325,000 in Manatee County and $291,925 in Sarasota County.
“There’s less urgency now,” says Inbal August, a real estate agent with Douglas Elliman. “Some sellers are still comparing the market to the pandemic, while buyers are waiting for 2008-level pricing. Right now, buyers are seeing reductions, but they’re scared to settle. They want to wait to see if it will get lower—and that’s part of what’s leading to longer days on market.”…