Should You Buy or Wait in Sarasota?

Should You Buy or Wait in Sarasota?

The Complete Picture

In Sarasota and Manatee Counties, 2026 brings a more balanced housing market. With a 4.7 months’ inventory for single-family homes and 8.1 months for condos, buyers encounter more choices and less urgency. Despite this, hotspots like Lakewood Ranch and downtown Sarasota maintain strong demand. These conditions favor both buyers seeking greater selection and sellers aiming to leverage steady demand. Gradual price stabilization and potential mortgage rate relief are significant factors. Buyers can explore options like coastal properties or neighborhoods with boating access. Sellers can highlight local perks like proximity to beaches and quality schools. This evolving market presents opportunities and considerations for both parties.

Mike and Eric are conscientious, focused, and knowledgeable. In the short time I’ve been engaged with Team Renick, I have experience a level of service that I’ve never seen before. Not only are they knowledgeable about their market, they have the unique ability to leverage that for the benefit of their clients. I struggled at first with regards to using a large national brokerage or a smaller one that is focused on the Island properties that are of interest to me. Mike explained it well. I’m really hiring the individual. He was absolutely right. Mike would excel as a Broker no matter what company he elected to work for. I highly recommend this team.

– Tom Allenson, Google Review

Key Insights

Sarasota‘s market is shifting towards balance, with single-family home sales rising by 9.3% in 2025. However, median prices dipped by 6% to $474,700. Manatee mirrors this trend with modest gains. Condo sales tell a different story, with a 4.3% decline and a 15.3% drop in median prices. Active listings have increased, reducing the frenzy and offering more choices. Areas with a strong supply, like 12 months’ condo supply downtown, provide strategic advantages for buyers.

In terms of financing, mortgage rates are expected to ease into the high 5s by late 2026. This projection is promising for buyers, suggesting improved affordability. However, Sarasota‘s desirable areas still see firm demand, potentially limiting significant price drops. Long-term investment remains viable, with steady appreciation expected over frenzied past markets. Buyers have more negotiation power, while sellers can capitalize on cash buyers prevalent in the market.

Market Reality

The Sarasota-Manatee market has a rising inventory, with properties often exceeding 100 days on the market. This slowdown allows for more strategic decisions. Prices are generally stabilizing, impacting both buyers and sellers positively. Local regulations, such as barrier-island insurance and flood zones AE/VE, play significant roles in property decisions. Lending conditions may improve as mortgage rates decline, potentially attracting more buyers to the market by year’s end.

Action Steps

1. Obtain pre-approval for a mortgage to be ready when the right property becomes available.
2. Research areas with rising inventory, like downtown Sarasota, to leverage negotiation opportunities.
3. Evaluate local regulations, especially regarding flood insurance, to assess risk and costs.
4. Monitor mortgage rate trends to capitalize on potential dips in rates.
5. Update homes with energy-efficient features and outdoor spaces to align with Sarasota‘s market preferences.

Frequently Asked Questions

1. What are the current trends for Sarasota‘s housing market? Sarasota‘s market is showing increased inventory and stabilizing prices. Single-family home sales rose 9.3% in 2025, while median prices dipped. Condo markets signal a buyer‘s market, especially downtown with an 8.1-month supply.
2. How are mortgage rates expected to change in 2026? Mortgage rates are projected to decline to the high 5s by late 2026. This could boost buying interest, providing opportunities for those who act early.
3. What should buyers consider before purchasing in Sarasota? Buyers should consider the area’s desirability, local flood zones, and current market trends. Areas like Lakewood Ranch remain in demand, and customers should prepare for possible competition.
4. Are there specific areas where inventory is particularly high? Downtown Sarasota has a 12-month condo supply, offering strategic opportunities for buyers. This may provide better negotiation leverage and choice.
5. What risks should sellers consider in the current market? Sellers face potential longer days on the market due to rising inventory. Pricing appropriately and leveraging Sarasota‘s lifestyle appeal can help mitigate these risks.

Closing

Sarasota‘s 2026 housing market offers balanced opportunities for both buyers and sellers. With rising inventory and easing mortgage rates, now is an excellent time to explore your options. Whether buying or selling, understanding local trends and market dynamics is crucial. Ready to talk strategy? Call Michael Renick at 941.400.8735.

Wow! I have to admit, I really struggled with the decision to go with a National Real Estate Company or one that was local. When I elected to work with Team Renick, I made the right decision. Mike and Eric know what is going on. Not only did I find them helpful with every step of the process so far, they both made themselves available even during off hours. A local company that understands the market is the best way to go. Mike has a unique approach to business….he actually listens to the customer and then delivers. I like that he doesn’t promise just anything. Every commitment he made to me was realistic and he kept it.

– sambrofon, Zillow Review

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