Sarasota County Residential Real Estate Market Update - June 2025
Overview
The Sarasota County residential real estate market continues to exhibit dynamic activity in June 2025, firmly entrenched in a strong buyer's market that has persisted for over a year. With elevated inventory levels compared to historical averages, alongside significant price adjustments and sales trends, this update provides a snapshot of current market conditions based on the latest data.
Key Market Statistics
- Active Listings: There are currently 6,815 active listings, nearly double the five-year average of 3,585 listings, reinforcing the ongoing buyer-friendly environment.
- New Listings: In the past 7 days, 296 new listings were added to the MLS, reflecting continued seller activity.
- Price Adjustments: A significant 749 listings experienced price decreases over the past week, signaling that sellers are adjusting to market conditions to attract buyers.
Pending and Sold Listings:
- 278 listings went pending in the last 7 days, indicating buyer interest.
- 347 listings sold in the same period, with a monthly total of 1,139 sales in the past 30 days, which is below the average monthly sales of 1,357.
- Listings Returning to Market: 114 listings that were under contract had buyers back out, returning these properties to active status.
- Listings Off Market: 383 listings were removed from the market without selling, potentially indicating seller fatigue or strategic withdrawals.
Price Trends
- The average sold price in October 2024 was $786,307, reflecting a robust market at that time.
- By April 2025, the average sold price decreased to $598,542, a notable decline of approximately 23.9%. This suggests a continued cooling in price growth, influenced by high inventory and price adjustments.
Market Analysis
Sarasota County remains in a strong buyer's market, with 6,815 active listings far exceeding the five-year average of 3,585. This surplus inventory, coupled with 749 price decreases in a single week, underscores a market where sellers are highly motivated to compete for buyers. The 1,139 sales in the past 30 days, compared to the average of 1,357, indicates slower sales absorption, consistent with the buyer-friendly conditions that have defined the market for over a year.
The drop in average sold price from $786,307 in October 2024 to $598,542 in April 2025 reflects ongoing market adjustments. This is likely driven by the elevated supply, frequent price reductions, and shifting buyer demand. The 114 listings returning to the market after failed contracts may suggest buyer caution or financing challenges, while the 383 listings removed without selling could indicate sellers reevaluating their strategies.
What This Means for Buyers and Sellers
- For Buyers: The high inventory and frequent price reductions continue to present opportunities to negotiate favorable terms. However, with 278 listings going pending weekly, desirable properties are still moving quickly.
- For Sellers: Pricing competitively remains critical in this buyer's market. The high number of price decreases and listings going off-market without selling suggests that overpriced properties struggle to attract buyers.
Looking Ahead
The Sarasota County real estate market remains firmly in a buyer's market, characterized by high inventory and declining average sale prices. Monitoring weekly trends, such as new listings, price changes, and sales velocity, will be key to understanding whether these conditions evolve in the coming months.
For personalized advice or to explore specific opportunities in this market, contact Slice of Florida Realty for expert guidance.
Steve Martin Smith is the Broker/Owner of Slice of Florida® Realty and Host of the globally downloaded Real Estate Agent Man Podcast
