The late-summer housing market in Sarasota and Manatee kept with the previous months' slowdown trend, with homes taking more than 100 days to close, single-family prices holding or even slipping slightly, and condos showing the steepest price drops in years—all according toe the latest data from the Realtor Association of Sarasota and Manatee.

In Sarasota County, 641 single-family homes closed in August, up 1.3 percent from a year earlier. The median sale price held steady at $475,000 (flat year-over-year), though that stability masks subtle pressure under the market's surface. Inventory swelled and months’ supply rose to 5.2 months (up from 4.6 months a year ago). Median time to sale pushed out to 109 days, longer than the prior comparable period, when it was closer to the 100-day range.

In Manatee, closed sales for single-family homes totaled 650, up 5.7 percent year over year, but the median sale price dipped 5.3 percent, to $467,640. Inventory and market slack rose: inventory rose from a 3.9-month supply to a 4.6-month supply, and the median time to sale extended to around 101 days (versus 103 days last year). Sellers captured 94.8 percent of their original list price—down from stronger negotiation environments in the past. 

The condo and townhouse segments continue to tell a more dramatic story. Sarasota saw 247 closed condo transactions in August, a 13.8 percent increase from a year earlier, while the median price plunged 13 percent, to $300,000, down from $345,000 last August. Inventory grew to 1,882 listings and a seven-month supply. The median time to sale stretched to 132 days, up from 117 days last year, and sellers took home just 88.5 percent of their original list price.

In Manatee, condo closings fell 7 percent, to 200, and the median price fell 11.7 percent, to $291,250. Supply rose to 6.4 months, and the median time to sale was 120 days (versus 139 last year), with sellers receiving 90.4 percent of their original asking price.

These numbers echo what Keller Williams agent Don Uffinger sees on the ground. “The buyers are waiting to be told it’s safe to buy," he says. "Investors lead the way—when you see them move, others follow.”

He recalls listing a Bradenton house he viewed as worth $295,000 and pricing it at $279,000. On Day One, a cash offer arrived; after the open house, seven offers pushed the price to $290,000 in just four days. “The buyers are there," Uffinger says. "They just need to see [that a listing is] a deal and they’ll jump on it. If you want to sell, you have to price aggressively right now.”

In Uffinger's view, psychology matters as much as its math. He notes that buyers compare today’s rates to neighbors sitting with 3 percent mortgages, creating paralysis. “Think about the lifestyle you want and reverse-engineer from there," he suggests. "The distance to the beach or the school you want for your kids doesn’t change.”

He sees opportunity in the condo market, too. After last year’s catastrophic hurricanes and steep assessments, he believes condos are now “a tremendous opportunity. Costs are up, but prices are down and many sellers are willing to cover assessments now.”

Still, the condo market remains precarious. The time to sale in both counties is beyond what is typical in a seller’s market. Many buyers now expect concessions, more transparency and sharper pricing. In both counties, condo supply has also stretched beyond the six-month threshold that generally shifts leverage to buyers; the double-digit drops in median price reflect that pressure.

For sellers, standing out on price, condition and terms is no longer optional—it’s essential. For buyers, patience and precision may pay off: in markets where time to sale exceeds 100 days and the median price is under pressure, the deals are less hidden and more in plain sight.

“If you want to see movement, you have to stand out against the competition,” Uffinger said. “If you just want to test the market, this isn’t the time for that."