Sarasota & Bradenton Condos: A Buyer’s Market Boom - Why Now May Be the Time to Act

If you’ve been thinking about buying a condominium in Sarasota or Bradenton, 2025 might be your golden window. The market has shifted firmly into buyer territory—with rising inventory, declining prices, and motivated sellers creating opportunities not seen in years.

Let’s break down what’s happening and why this moment could work in your favor.

📉 Sales Are Slowing — A Red Flag for Sellers, a Green Light for Buyers

After peaking in 2021 with over 6,000 condo sales in the Sarasota-Bradenton area, the market has steadily cooled. In the first half of 2025, only 1,634 units have sold—a drop of 18% compared to the same period last year, and down nearly 74% from the pandemic-driven frenzy of 2021.

This sharp decline signals weaker demand—and more negotiating power for buyers.

💲 Prices Are Falling for the First Time in Years

After years of double-digit growth, prices are now retreating. The median condo sale price has dropped from $360,000 in 2023 to just $315,000 in 2025-down 7% in the past year and 13% from the 2022 peak of $345,000.

Sellers who bought at the top of the market may be feeling the pinch. But for buyers, this correction presents a welcome chance to enter the market at more realistic price points.

🏢 Inventory Is Surging—Giving Buyers More Choice

One of the most dramatic changes has been the return of inventory. In 2021, available condos were nearly impossible to find, with only 375 active listings. Fast forward to 2025, and the number of condos for sale has ballooned to 2,626—a 600% increase from the low point.

The result? Buyers now have a wide array of choices and far more leverage in negotiations.

⏳ Months of Supply Hits Double Digits

Perhaps the most telling stat is months of supply—a measure of how long it would take to sell all listings at the current sales pace. A balanced market is typically around 5 to 6 months.

In 2025, the Sarasota-Bradenton condo market has 10 months of supply, the highest level in over a decade. That’s a strong signal that the market is oversupplied and that sellers must be flexible to get deals done.

🔍 Why the Shift?

Several factors have contributed to this buyer-friendly environment:

Rising insurance and HOA costs, especially in older buildings.

Higher interest rates, which softened demand from both investors and second-home buyers.

Post-pandemic normalization, as people reassess their housing needs.

More owners listing units, whether due to downsizing, profit-taking, or financial pressure.

💡 What This Means for Buyers

If you’re in the market for a condo, you have a rare advantage:

You can be picky—and likely still get concessions.

Sellers are negotiable on price, closing costs, repairs, or even furniture.

There’s less competition—bidding wars are now the exception, not the rule.

Whether you're a first-time buyer, a retiree relocating to the coast, or looking for a second home, this is the most favorable market we've seen for buyers in over a decade.

🗺️ Where to Look: Market Hotspots

Certain areas have seen larger pricing pullbacks or increased inventory. Some places to keep an eye on:

Longboat Key - Islander Club ($774k-$2.1M), L'Ambiance ($2.7M-$4.5M), and Veinte ($1.6M-$1.8M) each have over a year's supply of properties on the market with 5-9 listings in each building.

Downtown Sarasota - Bay Plaza ($1M-$4.7M), Rivo at Ringling ($699k-$925k), Golden Gate Point, collectively ($800k-$10M)

Bradenton - River Dance ($355k-$475k), Wildewood Springs ($199k-$396k), Tidy Island ($469k-$2.6M), Valencia ($215k-$425k), Terraces of Wild Oak Bay ($199-$599)