Sarasota and Manatee homebuyers had fewer properties to choose from in July, and some responded by getting off the sidelines.

Closed sales increased from a year earlier in all four major residential segments—single family homes and condos in Sarasota and Manatee counties—while inventory declined across both counties and property types. Single-family homes reached contract faster, sellers received a greater share of their original asking prices and Sarasota’s luxury market produced some of the month’s largest gains, all according to the July data report by the Realtor Association of Sarasota and Manatee (RASM).

Still, July wasn’t a return to a seller-dominated market. Sarasota condos took considerably longer to reach contract, new pending single-family sales dipped in Manatee County and buyers continued to scrutinize prices, property condition and condo finances.

Months’ supply estimates how long it would take to sell the homes currently available at the existing sales pace. Five to six months is generally considered a balanced market, with lower supply favoring sellers and higher supply giving buyers more leverage. By that measure, Sarasota and Manatee’s single-family markets favored sellers in July. Sarasota’s supply fell from 5.6 months a year ago to 3.9 months, while Manatee’s dropped from 4.8 to 4.1 months. The condo and townhome markets moved closer to balance: Sarasota’s supply declined from 7.5 months to 5.6 months, while Manatee’s fell from seven months to 5.4 months..

Chris Enfort, a local realtor with Compass Real Estate, says buyers may spend several weekends touring homes only to exhaust the available options. With fewer suitable properties available, buyers are more willing to make an offer when one meets their needs, and they still strongly favor turnkey homes.

Sarasota County recorded 744 single-family sales in July, up 2.9 percent from July 2025. The median sale price rose 5 percent, to $493,500, and sellers received a median 94.2 percent of their original asking price compared with 91 percent a year earlier.

Active inventory fell 23.4 percent, to 2,736 homes, the steepest decline among the four segments. That reduced supply from 5.6 months to 3.9 months. Homes reached contract in a median 52 days, down from 63, and moved from listing to closing in 93 days, down from 105.

New pending sales increased 6.6 percent, providing another indication that buyers remained active. New listings also rose 9.6 percent during July, though the number of active listings available remained substantially below last year’s level.

Enfort says some homeowners who aren’t under pressure to sell are still willing to withdraw their properties or wait rather than accept a lower price. He sees that particularly among owners who don’t rely on a Sarasota property as their primary home.

“Some buyers are thinking, 'Prices have to go down,'” he says. “And some of the sellers are saying, ‘Well, we’ll just wait and see.’”

Motivated sellers provide a clearer measure of what buyers will currently pay, he says. He also attributes homes selling closer to their asking prices partly to agents persuading sellers to begin with more realistic expectations.

“Realtors are educating sellers and they’re listening, so listings are more realistically priced,” he says.

Sarasota’s luxury segment was particularly active. The county recorded 121 single-family sales of at least $1 million, up 39.1 percent. Sales from $1.25 million to $1.49 million increased 47.1 percent, sales from $2 million to $2.99 million rose 50 percent, and sales from $3 million to $4.99 million climbed 62.5 percent.

Enfort says the market looks different below $1 million, where many primary-home buyers find that the properties they want cost more than they can comfortably spend. 

Those shopping above $1 million may have more flexibility. Enfort says some of the luxury buyers he encounters are purchasing second homes, vacation properties or investments. Location and amenities can be as important as the house itself.

In Manatee County, single-family sales rose 11.2 percent to 694. The median price increased 1 percent, to $495,000, and sellers received 95.2 percent of their original asking price, up from 93.7 percent a year earlier.

Active listings declined 7.9 percent, to 2,724, reducing supply from 4.8 months to 4.1 months. Homes reached contract in a median 50 days, down from 58, while the median time from listing to closing declined slightly, from 102 days to 100 days.

Manatee’s pending sales numbers were mixed. New pending sales slipped 2 percent, to 653, while the total number of properties under contract but not yet closed rose 7.3 percent, to 957. New listings increased 9.6 percent.

The county also recorded 77 single-family sales of at least $1 million, up 14.9 percent. Sales between $1.5 million and $1.99 million doubled from nine to 18, while sales from $2 million to $2.99 million increased from eight to 11.

The most dramatic changes appeared in Sarasota County’s townhome and condo market. Closed sales jumped 33.1 percent, to 318, while the median price rose 13.3 percent, to $340,000. New pending sales increased 27.7 percent.

Those gains came even as buyers took longer to commit. Sarasota townhomes and condos spent a median 92 days on the market before reaching contract, up from 72 days last July. The median time from listing to closing rose from 113 days to 138 days.

Sellers received 90.8 percent of their original asking price, compared with 88.3 percent a year earlier. Active inventory declined 10.9 percent, to 1,782 units, and supply fell from 7.5 months to 5.6 months.

Luxury closings contributed heavily to Sarasota’s condo results. The county recorded 41 townhome and condo sales of at least $1 million, up from 12 last July. Sales from $1.25 million to $1.49 million rose from one to 10, as did sales from $1.5 million to $1.99 million.

Enfort says condo buyers remain deeply concerned about association finances, insurance, reserves, maintenance and possible assessments.

“When you’re buying into a condo, it’s an association,” he says. “It’s a team effort. And if you’re joining the wrong team, it can really hurt you.”

He says smaller luxury buildings can benefit from having fewer owners making decisions and residents who are willing to fund maintenance before it becomes urgent. Fees may still be high, but proactive planning can reduce the risk of sudden increases and special assessments.

Enfort also cautions against treating every condo as a waterfront high-rise. The category includes low-rise buildings, villas and units in golf-course communities, each with different costs and maintenance obligations.

In Manatee County, townhome and condo sales increased 18.4 percent, to 238, while the median price declined 1.9 percent, to $313,950. It was the only one of the four segments to record a lower median price than a year earlier.

New pending sales climbed 32.6 percent to 236, the strongest percentage increase among the four segments. New listings rose 17.6 percent, while active inventory fell 15.8 percent to 1,277 units. Supply declined from seven months to 5.4 months.

Manatee townhomes and condos reached contract in a median 70 days, unchanged from last July. The median time from listing to closing declined slightly from 111 days to 109. Sellers received 93.2 percent of their original asking price, up from 91 percent.

Across the market, Enfort says one quality separates many homes that move from those that linger: Buyers generally want repairs and updates completed before they arrive.

“What I’ve seen right now is that buyers don’t want to work,” he says. “They want it turnkey.”

That selectivity helps explain why rising sales and falling inventory don’t guarantee an easy transaction for every seller. July’s numbers show a more active and somewhat tighter market, but buyers still have standards. Homes that need work, carry unrealistic prices or come with uncertain condo finances may continue waiting for their turn.