Home values across the North Port-Sarasota-Bradenton metropolitan area remain 17 percent below their 2022 peak, the third-largest decline among Florida metros, according to a ResiClub analysis of the Zillow Home Value Index.

The latest numbers also offer a tentative sign that the market’s prolonged correction is losing some of its force. Values increased 0.3 percent from June to July after seasonal adjustments, but they were still down 2.7 percent from July 2025.

Among single-family homes, values fell 4.2 percent between July 2025 and July 2026. That was roughly half the 8.2 percent decline recorded during the preceding 12-month period.

Condo values remained under greater pressure,  falling 7.4 percent during the latest year, compared with an 11.8 percent decline from July 2024 to July 2025.

The results are based on Zillow’s index of estimated home values, not the median prices of properties sold during a given month. Zillow's Home Value Index tracks changes in the typical value of homes in a market and is designed to reduce distortions caused by the types of homes that happen to sell in any one period.

The local market remains one of the most deeply corrected in Florida. Only Punta Gorda, down 24.5 percent from its 2022 peak, and Cape Coral-Fort Myers, down 19.1 percent, have experienced larger declines. The North Port-Sarasota-Bradenton drop was also considerably greater than the 11.7 percent decline in Naples-Marco Island and the 8.4 percent declines recorded in both Tampa-St. Petersburg-Clearwater and Sebastian-Vero Beach.

The comparison changes when looking only at the past year. Overall home values in the Sarasota-area metro fell 2.7 percent from July 2025, compared with declines of 4.4 percent in Punta Gorda and 4 percent in Cape Coral-Fort Myers. Naples-Marco Island was down 2 percent, while Tampa-St. Petersburg-Clearwater declined 1.2 percent.

Nationally, home values rose 1.1 percent during the same period.

The latest monthly results were more encouraging. The North Port-Sarasota-Bradenton metro’s seasonally adjusted 0.3 percent increase from June to July matched Tampa and exceeded Naples, where values increased 0.1 percent. Punta Gorda, the state’s most deeply corrected metro, rose 0.4 percent.

One month of appreciation doesn’t establish a long-term rebound. It does, however, fit the broader pattern: Price corrections are continuing in much of Florida, but their intensity has diminished through this year.

Twenty-two of the 29 Florida metro areas examined in the report still had year-over-year declines in single-family values in July. All 26 markets measured for condo values recorded annual declines.

The North Port-Sarasota-Bradenton figures show how much the market has changed since the pandemic without erasing the gains of that period. Even after falling 17 percent from its peak, overall local home values remained 41 percent above their March 2020 level as of July.

That increase trails several nearby metros. Values remained 52.7 percent above March 2020 levels in Naples-Marco Island and 48.8 percent higher in Tampa-St. Petersburg-Clearwater. They were up 37.8 percent in Cape Coral-Fort Myers and 29.7 percent in Punta Gorda.

Nationally, home values were 47.4 percent higher than in March 2020.

ResiClub attributes Florida’s broader correction to several overlapping forces following the state’s pandemic housing boom. Florida home values rose 51 percent between March 2020 and June 2022, compared with 41 percent nationally, leaving some markets more vulnerable when demand weakened.

The report also points to slower domestic migration, rising insurance costs, increased housing construction and the financial pressures facing older condominium buildings. New construction has placed additional pressure on resales as builders have used mortgage-rate buydowns and other incentives to attract buyers.

The unprecedented 2024 storm season also contributed to the decline in the North Port-Sarasota-Bradenton metro.

That makes for a housing market that has surrendered a significant portion of its pandemic-era appreciation while remaining substantially more expensive than it was in early 2020. July’s monthly increase and the smaller annual declines in both single-family and condo values suggest the downward movement is stabilizing.