October 2025 Market Report: The "Hurricane Effect" & The Real Shift in Prices

The Headline Numbers Don't Tell the Whole Story If you only glance at the headlines for October 2025, you might think the Sarasota and Manatee real estate market is overheating again. Closed sales have surged nearly 30% compared to last year.

But context is everything.

October 2024 was defined by Hurricane Milton, which effectively froze our market and delayed countless closings. The jump in activity we see now isn’t a sudden explosion of new demand; it is a return to normal transaction levels.

When you look past the sales volume, the real story of October 2025 emerges: Inventory is rising, and pricing pressure is finally cooling off.

The Condo Market Correction The most significant shift is happening in condos and townhomes. Inventory has spiked significantly—up 23.6% in Sarasota—pushing us firmly toward a Buyer's Market.

• Sarasota Condos: The median price dropped 5% year-over-year to $310,000.
• Manatee Condos: Prices softened by 8%, landing at $292,500.

For buyers who have been waiting for affordability to improve, this sector is showing the clearest signs of a discount.

Single-Family Homes: A Return to Balance The frenzy of recent years is gone. We are seeing a "normalization" where buyers have more time to decide and sellers must be strategic.

• Inventory: Supply has reached 5 months in Sarasota and 7.5 months in Manatee. This is a healthy level that offers real choices for buyers.
• Time on Market: Homes are taking longer to sell. In Sarasota, the median time to contract is now 61 days, giving buyers breathing room they haven't had in a long time.

By The Numbers: October 2025 Snapshot

Sarasota County

• Single-Family Sales: 668 (Up 29.7% from storm-impacted 2024).
• Single-Family Price: $445,000 Median (Down 9.2%).
• Condo Price: $310,000 Median (Down 19.5%).
• Cash Buyers: Still strong at 40.4% of single-family sales.

Manatee County

• Single-Family Sales: 596 (Up 26.8%).
• Single-Family Price: $481,000 Median (Essentially flat at +0.2%).
• Condo Price: $292,500 Median (Down 10.8%).
• Time to Contract: 55 days for single-family homes.

The Bottom Line For Sellers: The market hasn't stopped, but it has changed. With homes sitting on the market longer (60+ days is normal now), accurate pricing is your most powerful tool. The "aspirational pricing" of 2023 will leave you sitting on the market.

For Buyers: You finally have leverage. Inventory is higher than it has been in years, especially in the condo market. This is your moment to compare options, negotiate repairs, and buy without the panic of a bidding war.