The only thing heating up faster than Sarasota’s weather is the local housing market. As summer nears its peak, sales are climbing across property types, especially in the luxury sphere.
A recent report from the Florida Realtors found that home sales rose in July for the 11th consecutive month, as the state continues to attract new residents.
Closed sales of single-family homes rose to 23,870, up 5.1% from July 2025, while sales of condos and townhouses increased 11% to 8,194.
David Crawford, president of the Realtor Association of Sarasota and Manatee and owner of Catalist Realty, said in a prepared statement that the data indicates buyers and sellers are more aligned in how they view market value.
“Buyers are continuing to get off the fence and
get back in the game while sellers are being more realistic about the value of their properties and are being rewarded with higher closing ratios and a quicker sales cycle,” Crawford said.
Locally, the North Port-Sarasota-Bradenton metropolitan statistical area, which includes Manatee and Sarasota counties, saw single-family home sales rise 6.8% and the median sale price increase 3.1%.
InSarasota County condo and townhome sales continue to increase rapidly. Closed sales of condos and townhomes increased 33.1% year over year, while the average sale price rose 62.7% to $610,513.
Condo market conditions remain nuanced, as salesexperienced a spike last month but the median time properties spent on the market before going under contract also increased.
Available inventory also declined in surrounding counties in July, according to a report from the regional Realtor Association. This continues a trend seen in previous months, bringing the condominium market to more balanced conditions and tightening the single-family supply.
“The combination of stronger sales and fewer available properties is creating a more competitive environment for well-positioned listings,” the report read.
Other key trends derived from the data included pending activity remaining positive across most of the local market, indicating high demand heading into late summer.
The impact and increase of the Sarasota luxury market
Higher-priced transactions also continued to influence average sale prices, particularly in Sarasota County.
The increase comes as sales on luxury properties in the state rose in July, according to a statewide analysis. Sales involving million-dollar condominiums and townhomes increased by 31% from this time last year. The sales of single-family homes over $1 million also climbed 27%.
A recent market report showed that closed sales on condos and townhouses priced at $1 million or more in the state rose more than 31% from the year prior. This increase actually marked the second-lowest annual gain so far this year, as the luxury segment has been exorbitantly strong throughout 2026.
Brad O’Connor, chief economist of Florida Realtors, said in a prepared statement that the luxury housing market “has simply been strong across the entire state throughout the year, regardless of property type.”
“The gains have been somewhat more pronounced on the condo side,” O’Connor said. “Perhaps most importantly, we’re increasingly seeing evidence that buyers are returning to the market even without a major improvement in mortgage rates – which would certainly be a positive sign for the sustainability of this recovery going forward.”
The increase in the luxury market can be partly attributed to the fact that affluent buyers are less sensitive to mortgage rates, O’Connor said. This is influenced by several factors, including that buyers seeking luxury properties – or those listed for more than $1 million – are more likely to pay cash, make larger down payments or utilize property equity to finance a purchase.
He added that an important metric to monitor over the next few months is pending sales. Statewide, new pending sales of single-family homes were up 2.4% in July compared to a year ago, which is the 12th consecutive year-over-year increase for this statistic. Meanwhile, new pending sales of condo-townhomes rose 3.8% year-over-year.
Kendal Asbury is the real estate and development reporter for the Sarasota Herald-Tribune. Have an idea, tip or question about development? Send her an email at kasbury@usatodayco.com. Connect with her on LinkedIn or follow her on Instagram @wordsbykendal, and support local journalism by subscribing to the Herald-Tribune.
This article originally appeared on Sarasota Herald-Tribune: Sarasota housing market heats up as luxury sales soar
