If you’re interested in buying or selling a home in Sarasota, staying on top of current marketing trends and the forecast for 2025 is critical for understanding the market and finding a price that makes sense for the quality and location of the home you’re considering.
At Candy Swick & Company, the real estate market in Sarasota is our business, and we pride ourselves on the breadth of our knowledge. Here’s a look at the Sarasota housing market forecast for 2025 so you’re prepared for what lies ahead.
Key Pricing Trends
If you’ve been waiting for the right time to buy a home in Sarasota, your time may have arrived. Over the past year, the Sarasota housing sales have taken a gentle swing toward a buyer’s market. The inventory of houses on the market has increased, and it’s taking longer for homes to sell.
In Sarasota County, closed sales of homes dropped by 18.9% when compared to sales in November 2023. Manatee County saw a similar downturn in closed sales, with a difference of 15.5%.
Prices have also shifted, although the trends are a little mixed here. Overall, prices have dropped, but the median prices of one—and two-bedroom homes have gone down more noticeably, while larger home prices have stayed stable or even increased in some cases.
Buyer and Seller Expectations
Although homes are currently staying up for sale a little longer, it’s still a fairly fast-paced market. During the pandemic, there was a surge of buyers. In comparison, the rate of sales has dipped, but expectations are that this is all part of the market finding its footing again. Slower selling rates are being attributed to high mortgage costs, rising inflation, and a rebalancing of the market post-2020. However, over a third of homes for sale were sold in under 30 days, so properties are still moving.
In general, this is a promising time for buyers to consider Sarasota. The higher inventory of houses is likely to keep prices from rising too quickly, even as interest rates go down. Sellers should be prepared to meet buyers’ expectations, but buyers shouldn’t count on the market favoring them forever.
On the whole, the Sarasota housing market remains strong, even during slight softening periods. Sellers can be confident that they will find the right buyers, even if it will take a little more time than it did last year.
Factors Influencing the Sarasota Housing Market
Recently, there have been a few different drivers affecting the Sarasota market. Higher mortgage interest rates have cooled interest in home buying nationally, and Sarasota is no exception. Instead of experiencing the competitive seller’s market of recent years, home buyers have a bit more purchasing power.
However, it’s unlikely this trend will continue as Sarasota is a desirable location and interest rates are now declining. Purchases will likely catch up with the larger inventory, driving prices up slightly. People also continue to move to Florida, which keeps the local housing market strong.
The Sarasota housing market is quite stable overall. We don’t expect huge fluctuations, but market forces will impact different neighborhoods in unique ways.
For example, Osprey is a more affordable neighborhood than the island communities, so you can expect to see steady growth in this area even as prices rise. Siesta Key and Longboat Key feature luxury properties that sell for top dollar, so these areas are resilient even when other neighborhoods struggle. Downtown Sarasota has seen some cooling recently, but the wealth of amenities in the area means that properties will always be appealing.
Contact Candy Swick & Company For More Information
The Sarasota housing market has changed over the last year, and it looks like it will shift again in the year ahead. If you’re interested in buying a home in this beautiful area, it’s important to work with an expert in the local market.
At Candy Swick & Company, we know Sarasota well, and we can help you navigate the home-buying process. We love this area and hope to help you find a home you’ll love as well. For more information, contact us today!
