Whether you're dreaming of your first home, looking to upgrade, or considering selling, understanding the local real estate market is your first step to success. I'm Matt Bohanon with House Match, and I'm breaking down the latest numbers to help you make informed decisions in Sarasota and Manatee counties.

Check out the video here!


Closed Sales 

Produced by Florida Realtors®

Closed sales have dropped by 14% compared to this time last year, which aligns with trends we've seen throughout the year. However, this particular decline was more pronounced due to disruptions from two hurricanes that delayed and canceled some transactions.

Looking ahead, we anticipate a boost in sales through November, December, and January as the market stabilizes.





Median Sales Price 

Produced by Florida Realtors®

The median sales price dipped by 1.3% year-over-year but edged up slightly from the previous month. This uptick reflects the brief dip in mortgage rates we saw earlier, which brought more buyers into the market.












Median Percent of Original List Price 

Produced by Florida Realtors®

This metric dropped by 2.9% from last year and nearly 1% compared to the prior month.

For Sellers: Be realistic about pricing. With increased competition and condition playing a larger role, setting the right price is crucial.

For Buyers: There's more room to negotiate, depending on the price range you're targeting.







Median Time to Contract 

Produced by Florida Realtors®

Homes are taking longer to sell, with the median time to contract rising 86% year-over-year to 54 days.

  • For Homes on the Market Over 54 Days: It's time to reassess—whether that's price, condition, or marketing strategy.

  • For Homes on the Market Less Than 54 Days: You're still in the competitive range.

Certain price points are moving faster than others, so it's essential to work with an experienced agent to gauge your position.








New Pending Sales 

Produced by Florida Realtors®

The number of homes under contract in October fell 11.8% from last year, totaling 849 pending sales compared to 963 in 2023. It'll be interesting to see how many deals shift into November and beyond.

New Listings & Inventory New listings saw a significant 24% drop year-over-year. This limited inventory is helping to stabilize home prices despite rising interest rates.

  • Months of Supply: Inventory increased slightly month-over-month but has held steady at about four months throughout the year. Unless there's a significant surge in inventory, we don't expect a major price correction anytime soon.




Market Outlook 

As we approach the year's end, affordability remains the key driver. The Federal Reserve has indicated that the economy is performing well, which could mean stable interest rates for now. This will have a ripple effect on the mortgage market.

We're seeing a balanced market: well-priced homes in great condition are selling quickly, while others are taking longer. For buyers, this presents opportunities to find good deals, especially in certain price ranges.



Ready to Turn These Market Insights into Your Real Estate Success? 

Don't navigate this complex market alone. Our House Match agents are ready to provide personalized guidance tailored to your unique goals. Whether you're buying your dream home or selling at the perfect price, we'll help you make confident, informed decisions. Call us today at [Phone Number] or email [Email] to schedule your free, no-obligation market consultation. Your real estate journey starts here – let's make it extraordinary!

Until next month, stay informed and confident in your real estate decisions—and don’t forget to subscribe to our YouTube channel for the latest updates and insights!