SaundersREPORT Q1 | 2025 MARKET REPORT | EXECUTIVE SUMMARY
by Chip Murphy, Executive Vice President
SINGLE-FAMILY HOME & CONDOMINUM OVERVIEW SARASOTA COUNTY MANATEE COUNTY CHARLOTTE COUNTY TRI-COUNTY
The trend from last quarter continues into the first quarter of 2025: We remain in a buyer’s market. Inventory has continued to climb—up 31% since Q1 of last year—giving buyers the leverage they haven’t had in years. While interest rates have held steady, it is supply, not rates, that is now driving the narrative. The reduction in average sale price that we have seen is not a correction driven by panic, but rather a recalibration of value in a more balanced marketplace. Average days on market continues to rise, reflecting a slower pace that gives buyers time and choice, but demands precision and patience from sellers. No segment has felt this shift more than the condominium market. Elevated carrying costs—driven by insurance, assessments, and maintenance—have made buyers more cautious and selective. Units that are not competitively priced or move-in ready are being left behind, often with significant time on the market. Buyers today are in a uniquely advantageous position—armed with negotiating power, a broader selection of homes, and the time to make thoughtful, informed decisions. This moment presents real opportunity, particularly for those who were previously sidelined by the frenzy of past markets. For sellers, success is still within reach, but it requires a sharp pricing strategy, compelling presentation, and the readiness to compete in a more discerning marketplace. As we move into the summer selling season, the dynamics have shifted —but the demand remains. The road to success in 2025 is clear: it belongs to those who understand the market and act with strategy, not nostalgia. For a deeper understanding of how these trends may impact your buying or selling decisions, please reach out to one of our expert associates. This may be the season of opportunity for you.