The Sarasota–Manatee housing market didn’t exactly behave itself this November. Sales climbed in some segments, prices fell in others, and inventory—especially condos—kept piling up, leaving buyers with more room to maneuver and sellers adjusting expectations as the holidays near.

In Sarasota County, single-family home sales rose sharply even as prices declined. Closed sales reached 564, a 28.5 percent increase from November 2024, while the median sale price fell 6.6 percent year over year to $457,495. Homes took a median of 54 days to go under contract, mostly unchanged from a year earlier, and sellers received a median 93.3 percent of their original list price, down from 94.6 percent. Inventory edged up slightly to 3,245 active listings, but months of supply tightened to 4.8 months, compared with 5.2 months last year–not too high or low.

“The prices have gone down, so people are ready to start buying,” says Simone Schaerf of Michael Saunders & Company. “People aren’t just waiting for interest rates to come down. They’re getting on with life.”

Manatee County’s single-family market showed the opposite pattern. Closed sales declined 13.7 percent year over year, to 548 transactions, while the median sale price rose 13.3 percent to $487,233. Homes took longer to move, with a median time to contract of 59 days, up from 45 days last year. Sellers received a median of 94.5 percent of the original list price, slightly lower than the 95.1 percent recorded a year earlier. Inventory increased 8.4 percent to 2,647 listings, and months of supply rose to 4.2 months, a number that's considered balanced.

“There’s more activity in Manatee in part because the property taxes are generally cheaper, and people are seeing that Manatee can be just as valuable on many fronts,” Schaerf says. “I think Manatee is catching up to Sarasota, and it still has a lot of great lifestyle options that are similar.”

Condo and townhouse markets in both counties continued their now-familiar trajectory, particularly in Sarasota County. Sarasota recorded 228 condo and townhome sales in November, a 3.4 percent decline from the prior year, while the median sale price dropped 11.8 percent to $329,500. Months of inventory surged to 8.1 months, up from 6.3 months a year earlier—a firm indicator of a buyer's market. Condos took a median of 61 days to go under contract, an improvement from 65 days last year, but sellers received only 92.0 percent of their original list price, down from 93.5 percent.

“You have to price it right and set the right expectations,” Schaerf says. “It’s a problem if someone overpaid post-COVID. Some sellers can wait it out, but others can’t.”

In Manatee County, condo and townhome sales increased 16 percent year over year to 189 transactions, while the median sale price slipped slightly, down 0.6 percent to $308,000. Inventory rose modestly to 1,447 active listings, and months of supply held at 6.5 months–considered buyer's territory. They took a median of 74 days to go under contract, up sharply from 53 days a year earlier, and sellers received 92.3 percent of the original list price, down from 94.2 percent the same time last year.

Across both counties and property types, longer decision timelines have become a mainstay, particularly in a post-hurricane world. Buyers are taking more time to evaluate listings, particularly around homeowners' insurance, flood zones and building condition. “Buyers are asking more questions now—about roofs, flooding and impact windows," Schaerf says. "Not being in a flood zone matters a lot more than it used to.”

The local data aligns with broader national trends. A recent Realtor.com analysis found that the North Port–Bradenton–Sarasota metro experienced the largest year-over-year decline in estimated home values among major U.S. metros, placing it at the top of the list nationally. Five other Florida metros also ranked among the top ten, underscoring the extent to which value recalibration has been concentrated in the state. 

Seller expectations have adjusted unevenly. In both counties, sellers are receiving a smaller share of their original asking price than a year ago, particularly in the condo market. “People are much more wary now,” Schaerf says. “Even buyers with money are tired of paying all the assessment fees. We're seeing some people, especially in older condos, moving out and into single-family homes.”

Overall, however, Schaerf says the market is looking good as it comes into high season, and buyer engagement has increased in recent months.

“There’s a lot of uncertainty in the world right now, but it’s still a buyer’s market,” she says. “If you want a good price, now is a good time.”