Sarasota Market Update: Sales Up, Inventory Down Heading Into Season

Every month I dig through the numbers from the REALTOR Association of Sarasota and Manatee so you do not have to. The most recent full report available as I write this covers August 2026 (the September report has not been published yet), and it tells a different story than the one I was writing about at the start of the summer.

Back in my late August market update, the headline was softening prices and a market that had swung toward buyers. That was true, and in some ways it still is. But the August data shows something worth paying attention to: closed sales rose in all four major segments, inventory fell in all four, and homes are moving faster. Here is the plain-English breakdown.

The Big Picture

RASM tracks four segments: single-family homes and condos (including townhomes) in both Sarasota County and Manatee County. In August, every one of those four segments saw more closed sales and more pending sales than a year earlier. Every one saw fewer active listings and a lower months supply. And properties went under contract faster.

RASM’s 2026 President, David Crawford, summed it up this way: “The trend line continues to tell the story of buyers and sellers finding common ground and seeing a true market value through a similar lens.”

I think that is exactly right. After a couple of years where buyers and sellers were talking past each other on price, the gap is closing.

Sarasota County Single-Family Homes

• Closed sales: 646, up 0.8% from August 2025
• Median sale price: $470,000, down 1.1%
• Average sale price: $670,413, down 1.9%
• Active listings: 2,619, down 20.8%
• Months supply: 3.7
• Median time to contract: 47 days, with 91 days to closing
• Cash purchases: 37.3% of sales
• Sellers received: 94.7% of original list price, up from 92.3% a year ago

The number that jumps out to me is inventory. Active listings fell by more than a fifth in a single year. Prices are still slightly down, but with fewer homes for sale, sellers are getting noticeably closer to their original asking price than they were a year ago. That 94.7% figure is the clearest sign that the pricing gap is narrowing.

The luxury end was mixed. Sales of $1 million and up fell 8.2% to 78, but within that range there were bright spots: sales between $1.5 million and $1.99 million rose 46.2% to 19, and sales between $2 million and $2.99 million rose 18.2% to 13.

Manatee County Single-Family Homes

• Closed sales: 687, up 5.7%
• Median sale price: $495,000, up 5.9%
• Average sale price: $663,878, down 0.3%
• Active listings: 2,616, down 7.0%
• Months supply: 3.9
• Median time to contract: 45 days
• Cash purchases: 26.6% of sales
• Sellers received: 95.6% of original list price, up from 94.8%

Manatee was the stronger of the two counties for single-family homes in August, with the median price up nearly 6% and sales up as well. A lot of that activity lives in and around Lakewood Ranch, which continues to draw families and relocating buyers. If you are weighing the two big master-planned options, my Lakewood Ranch vs. Palmer Ranch comparison walks through the differences.

Condos and Townhomes

This is where the change has been most dramatic, because condos were the segment under the most pressure over the last couple of years.

Sarasota County condos: 281 closed sales, up 13.8%. The median price rose 3.3% to $310,000, and the average rose 4.7% to $441,558. Active listings fell 11.8% to 1,659, for a 5.2 month supply. Sellers received 91.6% of original list price, up from 88.5% a year earlier. Cash buyers made up 59.8% of sales.

Manatee County condos: 241 closed sales, up 20.5%. The median price rose 5.4% to $307,000 and the average rose 5.0% to $372,591. Inventory fell 16.1% to 1,171, for a 4.9 month supply. Sellers received 93.4% of original list price, up from 90.4%. About half of buyers, 50.6%, paid cash.

Condo time to contract is still longer than for houses, 83 days in Sarasota County and 72 in Manatee, and buyers still have more room to negotiate here than in any other segment. But sales and prices both moving up at the same time is a real shift. If you are shopping for one, my guide to buying a condo in Sarasota covers the questions to ask about reserves, inspections, and assessments before you write an offer.

What This Means If You Are Buying

The best window of buyer leverage in years has not slammed shut, but it is narrowing. With 3.7 to 3.9 months of supply for single-family homes, we are still in balanced territory, and you can still negotiate, ask for repairs or credits, and do proper due diligence. What has changed is that the best-priced homes are drawing attention again, and there are simply fewer of them to choose from than a year ago.

Timing also matters more than usual this fall. Season is about to start, which historically brings more buyers into town. And if you are relocating and want to close before January 1, keep in mind that the median Sarasota home in August took 47 days to go under contract and 91 days to close from listing. Contract to closing alone typically runs four to six weeks. The calendar is getting tight. The homestead amendment on the November ballot adds another reason some buyers are watching that December 31 date.

What This Means If You Are Selling

Lower inventory is good news for sellers, and so is the rising share of list price buyers are paying. But this is not 2021, and the data says so: median single-family prices in Sarasota County are still slightly down year over year, and homes are taking more than six weeks to go under contract. Pricing it right from day one is still the single most important decision you will make. I went deep on that in how to price your Sarasota home.

If you have been thinking about listing, the next few weeks before season are a smart time to get ready. Seasonal buyers start arriving in November, and a home that is prepared, photographed, and priced correctly when they get here has the best shot.

What I Am Watching Next

Three things. First, whether the inventory drop holds as more sellers list for season. Second, whether condo prices keep firming up or August was a one-month bump. And third, the September report, which should give us the first look at the fall market. I will break it down as soon as it is out.

Every neighborhood moves differently, and county-wide medians only tell part of the story. If you want to know what these numbers mean for your street, your building, or your budget, reach out and I will pull the data for exactly what you are looking at.

Sources

All figures are for August 2026 compared to August 2025, from the REALTOR Association of Sarasota and Manatee monthly market report, using data from Florida Realtors and Stellar MLS. See the full reports at MyRASM.com/statistics.