The latest March Sarasota real estate market trends showed that 1,141 properties, including those in the North Port, Sarasota, and Bradenton areas, sold for over $774 million in the county.
Sarasota’s luxury real estate market remained strong, with 167 properties selling for $1 million or more in March, down from 110 in February. The highest-priced sale was a spectacular new construction single family home in Harbor Acres Estates that netted $14.8 million.
Furthermore, 90 percent of the top 10 sales were waterfront properties on the Gulf or the Bay, selling between $4,250,000 and $14,800,000. Similar to last month, buyers continue to buy luxury waterfront properties along the Southwest coast of Florida.
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Like the last five months, the inventory of single-family homes increased month over month, increasing by 2.8 percent compared to the prior month. There was a net increase of 120 single-family homes for sale from February to March.
Notably, the days on the market decreased to 40 from 46 during the previous month. With the increased inventory of both single-family homes (4,412) and condos (2,714), it is now a Buyer’s market.
In March, the median sales price fell from $529,750 the month before to $469,450. Additionally, it decreased year-over-year from $515,000 a year ago.
Bottom line: With a total inventory of single-family homes and condos above 7,126, we are in a Buyer’s market. A balanced market is typically between a 6-7-month supply.
For the sixth straight month, inventory increased month over month. Ultimately, there was a 3.7 percent increase or net addition of 96 condos for sale compared to February.
Due to the increased inventory, it remains a Seller’s market with a 9.7-month supply of condos for sale. A balanced market typically consists of a 6 to 7-month supply of homes.
Unlike the prior month, the average days on the market increased from 44 days to 46 days compared to the previous month. However, this was also a slight decrease from the previous year, when it took 51 days to go to contract.
Finally, cash sales accounted for 68.5 percent of condo sales, down from 71.7 percent the previous month.
With more homes hitting the market, Sarasota remains a seller’s market, but rising inventory is creating new opportunities—especially for savvy buyers.
Real estate trends aren’t one-size-fits-all. Inventory levels vary greatly by neighborhood—some areas offer a wide selection, while others remain in high demand with limited availability.
Whether you’re ready to make a move or just keeping an eye on the market, now’s a smart time to watch for homes that match your goals. Staying informed is your best advantage in this evolving market.
Whether you are looking to buy or sell a property, our team is dedicated to providing expert guidance. Most importantly, we’ll share the unique market conditions of each neighborhood, ensuring a smooth and successful transaction process.
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Several new construction developments in the Sarasota area have contributed to the increase in inventory over the last year.
If you are a buyer, this surge in inventory has led many builders to offer attractive incentives to potential buyers. (What I Wish I Knew Before Buying New Construction)
If you are contemplating purchasing a new construction property, our team will help you explore your options. We are dedicated to guiding you through the process and ensuring that your best interests are represented when dealing with builders.
2025 March Sarasota Real Estate Market Trends – Single Family Homes
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For expert guidance in Southwest Florida real estate, contact Naples Golf Guy, Matt Klinowski P.A. Whether you’re looking to buy a single-family home or condo in Naples, Bonita Springs, Estero, Ft. Myers or Sarasota I can help. With over 20 years of experience, I offer valuable market information and insights into individual communities to help you find the perfect home and lifestyle in the best golf community to fit your needs. Reach out to me today to get started!