Buyer activity picked up across Sarasota and Manatee counties in May, even as the number of homes for sale continued to shrink, according to the latest monthly report from the Realtor Association of Sarasota and Manatee.

The May 2026 report shows new pending sales increased year over year in all four major market segments tracked by RASM: Sarasota County single-family homes, condos and townhomes; and Manatee County single-family homes, condos and townhomes. Closed sales rose in three of those four categories, with Manatee County single-family sales remaining nearly flat.

But still, buyers aren’t rushing in.

“Buyers today are more disciplined and analytical,” says Lynn Morris, a local realtor with Michael Saunders & Co. “They’re not acting with as much emotion as they did in the past. But if everything lines up for them, they’re ready to make a purchase.”

In Sarasota County, single-family closed sales rose 7.2 percent from May 2025, to 845 sales. The median sale price increased 2.2 percent to $475,000. New pending sales rose 11.4 percent, to 808.

In Manatee County, single-family closed sales were essentially even with last year, slipping 0.5 percent to 782 sales. But new pending sales jumped 19.2 percent, to 839, even as the median sale price fell 3.8 percent to $460,000.

Morris says the continued activity into May isn’t what the market always looked like. In earlier years, she says, it often softened after Easter. This year, some seasonal buyers stayed longer.

“We’re finding that the people who are staying have typically been here through the season, and by May they’re ready to make a purchase,” Morris says.

Inventory tightened across every major segment. Active single-family listings in Sarasota County fell 25.2 percent year over year to 3,099 homes, the steepest decline among the four categories. In Manatee County, active single-family listings fell 11.8 percent to 2,832.

Both counties ended May with 4.4 months of single-family supply, down from 6.6 months in Sarasota County and 5.2 months in Manatee County a year earlier.

But Morris says some of the decline may reflect typical seasonal behavior and strategy by sellers, not just rising demand.

“We see this in the summer, where properties are [sometimes] pulled off the market, either temporarily or conditionally, and then put back on as the season begins and brings in more potential buyers,” she says.

The condo and townhome market also tightened. But as has been the trend, buyers still had more choices than in the single-family market. Sarasota County had 7.1 months of condo and townhome supply in May, down from 9.2 months a year earlier. Manatee County had 6.3 months of supply, down from 7.9 months.

Condo and townhome sales were up. Sarasota County’s rose 8.5 percent, to 371, while the median sale price increased 4.9 percent to $336,829. In Manatee County, condo and townhome sales rose 8.7 percent, to 288, while the median sale price fell 5.1 percent to $297,000. Sales growth there was concentrated at the lower end of the market, with transactions below $200,000 increasing 94 percent.  

Morris says the condo market isn’t tightening evenly. In downtown Sarasota, she says, higher-end resale condos are competing with a wave of new luxury projects.

“There’s some really key projects coming online, like Mira Mar, the Waldorf Astoria and the Ritz-Carlton are in play,” Morris says. She adds that some buyers are already in the area and looking to move up within the same general market.

At the same time, Morris says Sarasota’s luxury buyer pool is expanding. Some buyers are coming from Florida’s east coast, and others are discovering the Sarasota and Longboat Key area through newer luxury hospitality projects.

“I think for the first time we’re beginning to see buyers from Florida’s East Coast,” she says. “The advent of the St. Regis on Longboat Key has begun to bring in international travelers, too, who will eventually turn into buyers.”

Even with inventory tightening, sellers are still not receiving their full original asking prices. In May, sellers received a median of 94.2 percent of original list price in Sarasota County single-family sales and 95.4 percent in Manatee County single-family sales. In the condo and townhome market, sellers received 91.2 percent in Sarasota County and 93.2 percent in Manatee County.

Morris says some Sarasota luxury single-family sellers are still reaching too high.

“I think with a lot of the single-family luxury homes in Sarasota, there’s a bit of overreaching,” she says. “The sellers are beginning to understand that as they see the selling prices of properties around them.”

For buyers, home condition matters. Morris says today’s buyers, especially in the higher end of the market, are less willing to take on major projects after closing.

Other than being turnkey ready, “the No. 1 thing [buyers want] in our market is the view,” she says. “People want a water view, and new construction is very attractive to them.” 

Properties are still taking weeks, not days, to sell, though the pace depends on the segment. In Sarasota County, single-family homes took a median of 50 days to go under contract in May, one day faster than a year ago, and 92 days from listing to closing, also one day faster. Manatee County single-family homes moved a bit quicker, taking 47 days to contract, down from 52 days last year, and 95 days to sale, down from 98. Condos and townhomes moved more slowly. In Sarasota County, they took 67 days to go under contract, up from 59 days a year ago, and 108 days to sell, up from 102. In Manatee County, condos and townhomes took 61 days to contract, compared with 60 last year, and 106 days to sell, up from 99.