Market Conditions Tighten Further as Activity Increases
August brought continued momentum across all four market segments. Closed sales increased everywhere. Pending activity rose in every major category. And available inventory continued to decline across the board.
The REALTOR® Association of Sarasota and Manatee (RASM) just released the August 2026 market report, and the consistent trend is clear: buyers are active, and sellers are receiving a larger share of their asking prices IF priced right. The townhouse and condo segments posted the strongest gains, while single-family markets also remained positive.
Market conditions remain tight, particularly in single-family homes. Both Sarasota and Manatee are at 3.7 to 3.9 months supply. That's well below balanced. Meanwhile, condo inventory has tightened to 5.2 months in Sarasota and 4.9 months in Manatee, moving closer to balanced territory.
Sarasota County Single-Family Homes: Flat Sales, Tight Inventory
Sarasota's single-family market posted 646 closed sales in August, up just 0.8% from last year. The median sale price declined 1.1% to $470,000, while the average fell 1.9% to $670,413. Cash purchases represented 37.3% of transactions, and sellers received a median of 94.7% of their original list price.
Active inventory fell 20.8% to 2,619 homes, bringing months supply to 3.7 months. Homes took a median of 47 days to go under contract and 91 days to close.
Luxury activity was mixed. Sales over 1 million declined 8.2%, but sales between 1.5 and 1.99 million increased 46.2%, and sales between 2 and 2.99 million rose 18.2%.
The bottom line: Sarasota's single-family inventory remains constrained. Prices are stable despite the tightness, and sellers are receiving close to asking price on their sales.
Sarasota County Condos & Townhomes: Solid Growth with Rising Prices
Sarasota's condo and townhome market recorded 281 closed sales in August, up 13.8% from last year. The median sale price increased 3.3% to $310,000, while the average rose 4.7% to $441,558. Cash buyers accounted for 59.8% of sales, and sellers received a median of 91.6% of their asking price.
Active inventory fell 11.8% to 1,659 units, lowering months supply to 5.2 months. Homes took a median of 83 days to go under contract and 124 days to close.
Luxury activity remained solid. Sales over 1 million increased 10.5% to 21 transactions. Sales between 2 and 2.99 million tripled to six from two last year.
What this means: This segment continues to show consistent activity with rising prices. Inventory has tightened noticeably, and the condo market is becoming more competitive than earlier in the year.
Manatee County Single-Family Homes: Sales Growth and Price Appreciation
Manatee's single-family market posted 687 closed sales in August, up 5.7% from last year. The median sale price rose 5.9% to $495,000, while the average was nearly unchanged, declining just 0.3% to $663,878. Cash purchases represented 26.6% of transactions, and sellers received a median of 95.6% of their original list price.
Active inventory fell 7.0% to 2,616 homes, bringing months supply to 3.9 months. Properties spent a median of 45 days to go under contract and 95 days to close.
Luxury activity showed mixed results. Sales over 1 million declined 6.6%, but sales between 1 and 1.24 million increased 26.1%.
The bottom line: Manatee's single-family market continues to show steady growth. Inventory is tight, prices are holding up, and seller positioning remains strong.
Manatee County Condos & Townhomes: Strong Activity and Rising Prices
Manatee's condo and townhome market recorded 241 closed sales in August, up 20.5% from last year. The median sale price increased 5.4% to $307,000, while the average rose 5.0% to $372,591. Cash purchases represented 50.6% of transactions, and sellers received a median of 93.4% of their original list price.
Active inventory fell 16.1% to 1,171 units, lowering months supply to 4.9 months. Properties spent a median of 72 days to go under contract and 116 days to close.
What this means: Manatee's condo market is showing the strongest gains this month with both sales and price growth. Inventory is tightening significantly, and the market is becoming more competitive.
What August's Data Means for You
August showed continued tightening of inventory and increased activity across all segments. Sellers are receiving more of their asking price, and market conditions remain tight particularly for single-family homes.
For single-family sellers, inventory constraints remain in your favor. Prices are stable, and buyers are paying close to asking price. For condo sellers, conditions are also improving, with sales up and prices rising, though inventory is less constrained than single-family.
For buyers, competition is real, particularly in single-family homes. The market continues to reward those who know what they want and are ready to move when the right property appears. The wide selection of months past is not available, but options remain.
#SarasotaMarketTrend #BradentonMarketTrend #LakewoodRanchMarketTrend #SouthwestFloridaRealEstate #MarketUpdate
*Based on information and monthly reports provided by Florida Realtors® with data compiled from Stellar MLS by RASM
Add comment
Comments