2024 Sales and Prices Drop as Home Market Balances

Todays News

Graphic courtesy Realtor Association of Sarasota and Manatee..

Nearly 7,500 single-family homes were sold in Sarasota County in 2024, with almost exactly as many sold in Manatee County, according to a year-end market report from the Realtor Association of Sarasota and Manatee. That marks a less-than-2% decrease from the prior year in the number of units moved, and the median sales price also dropped in Sarasota from $515,000 in 2023 to $505,000 in the just closed year, while Manatee’s median home price dropped from $509,240 to $499,875.

But the prices remain about 75% higher than 2019, before a boom in the Florida housing market that kicked off in the wake of the COVID-19 pandemic and tapered little until last year. The Realtor Associated stressed that even with a 25% increase in inventory, though housing market remains in balance with a 5.5-month supply of homes.

“The single-family home market in Sarasota and Manatee counties continues to provide stability and opportunity,” said Debi Reynolds, 2025 RASM President and Managing Broker of SaraBay Real Estate. “While we're seeing a normalization in the market, sellers who purchased before the pandemic can still capitalize on significant equity gains. These trends show the strength of our local market as it evolves toward balance."

In the townhome and condominium unit market, Sarasota saw a sharper 10% decline in sales, with just over 3,400 sales in 2024 with a median sales price of $383,500, compared to more than 3,800 sales in 2023 with a median price of $410,000. In Manatee County, the report shows almost 2,600 condo sales with a median price of $338,990 compared to more than 2,800 condo sales the prior year at a median price of $363,620. 

"The townhouse and condo market in Sarasota and Manatee counties is undergoing a shift toward more buyer-friendly conditions, with increased inventory and longer time on the market creating opportunities for those looking to purchase. These conditions provide buyers with more options and negotiating power than in recent years," Reynolds said. “However, the complexity of navigating this segment of the market has grown.”

Graphic courtesy Realtor Association of Sarasota and Manatee..

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