Conditions Shift in Favor of Sellers, But the Market Remains Balanced
July continued the trend of tightening inventory paired with steady buyer activity. Closed sales increased across all four major segments. Pending sales remained positive in most areas. Active listings declined everywhere.
The REALTOR® Association of Sarasota and Manatee (RASM) just released the July 2026 market report, and the pattern is consistent with what we've seen over the past few months: fewer homes available, more buyers in the market, and a gradual shift toward seller advantage.
Importantly, this shift isn't uniform. Single-family homes are tightening faster than condos. Buyers in some segments are moving to contract quicker, while in others, they're taking more time to decide. And higher-priced transactions continue to influence average sale prices, particularly in Sarasota.
Sarasota County Single-Family Homes: Tight Supply, Strong Pricing
Sarasota's single-family market posted 744 closed sales in July, up 2.9% from last year. The median sale price increased 5.0% to $493,500, and the average climbed 11.6% to $764,307. Cash buyers represented 33.6% of transactions, and sellers received a median of 94.2% of their original list price, compared to 91.0% last year.
Pending sales rose 6.6% to 724, and new listings increased 9.6%. Active inventory fell 23.4% to 2,736 homes, bringing months supply to 3.9 months. Homes took a median of 52 days to go under contract and 93 days to close.
Higher-priced activity showed particular strength. Sales over 1 million increased 39.1%. Sales between 1.25 and 1.49 million rose 47.1%, sales between 2 and 2.99 million increased 50.0%, and sales between 3 and 4.99 million climbed 62.5%.
The bottom line: Sarasota's single-family market has tight inventory. Sellers are closing closer to asking price than they were a year ago, and luxury sales are notably higher.
Sarasota County Condos & Townhomes: Sales Up, But Buyers Moving Slower
Sarasota's condo and townhome market recorded 318 closed sales in July, up 33.1% from last year. The median sale price increased 13.3% to $340,000, while the average rose 62.7% to $610,513. Cash buyers accounted for 59.7% of sales, and sellers received a median of 90.8% of their original asking price.
Pending sales increased 27.7% to 281. New listings declined 5.3%. Active inventory fell 10.9% to 1,782 units, bringing months supply to 5.6 months.
However, properties took longer to close: a median of 92 days to go under contract (notably longer than single-family) and 138 days from listing to closing.
Luxury activity showed significant growth. Sales over 1 million increased from 12 last year to 41 this July. Sales between 1.25 and 1.49 million increased to 10 from 1, and sales between 1.5 and 1.99 million also increased to 10 from 1.
What this means: Sales volume is strong and luxury activity has increased substantially, but buyers in this segment are still taking time to evaluate properties before committing. It's not a rush to close scenario.
Manatee County Single-Family Homes: Moderate Growth, Stable Pricing
Manatee's single-family market posted 694 closed sales in July, up 11.2% from last year. The median sale price rose just 1.0% to $495,000, while the average increased 7.1% to $675,943. Cash purchases represented 27.7% of transactions, and sellers received a median of 95.2% of their original list price.
Pending sales declined slightly, down 2.0% to 653, but new listings increased 9.6%. Active inventory fell 7.9% to 2,724 homes, leaving 4.1 months supply. Properties spent a median of 50 days to go under contract and 100 days to close.
Higher-priced activity remained solid. Sales over 1 million increased 14.9%. Sales between 1.5 and 1.99 million doubled to 18 transactions, and sales between 2 and 2.99 million increased 37.5%.
The bottom line: Manatee's single-family market shows steady growth and stable pricing. Inventory continues to decline gradually, and seller positioning has improved.
Manatee County Condos & Townhomes: Sales Growth with Modest Price Movement
Manatee's condo and townhome market recorded 238 closed sales in July, up 18.4% from last year. The median sale price declined slightly, down 1.9% to $313,950, while the average increased 3.7% to $342,030. Cash purchases represented 49.2% of transactions, and sellers received a median of 93.2% of their original list price.
Pending sales increased 32.6% to 236, a strong signal of continued buyer interest. New listings rose 17.6%. Active inventory fell 15.8% to 1,277 units, bringing month's supply to 5.4 months.
Properties took a median of 70 days to go under contract and 109 days to close.
What this means: Manatee's condo market is showing solid sales growth and rising pending activity. The median price decline is modest, and inventory is tightening in this segment as well.
What July's Data Means for You
July reinforced a consistent pattern: inventory is tightening across all segments, and sellers are receiving a larger share of their asking prices. The market is becoming more competitive than it was a year ago, but it's not frantic.
For sellers thinking about listing a single-family home, conditions favor you more than they did over the past year. Inventory is constrained, homes are moving to contract faster, and buyers are paying closer to asking price. For sellers with condos, the picture is more mixed. Sales are increasing and pending activity is strong, but buyer timelines remain longer.
For buyers, competition is growing, particularly in single-family homes. Having clarity on what you want and being ready to move when the right property appears is important. The market still has options, especially in the condo segment, but the days of abundant inventory are behind us.
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*Based on information and monthly reports provided by Florida Realtors® with data compiled from Stellar MLS by RASM
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