Sarasota closed out the third quarter of 2026 with skyrocketing luxury sales, increased home prices and lower active inventory than the same time last year.
According to a quarterly report from the Realtor Association of Sarasota and Manatee, there was growth in closed sales and median sales prices in the single-family and condominium market in both counties.
In the third quarter, spanning July to September, the four major market segments recorded a combined 5,699 closed sales in both counties. Compared to the third quarter of 2025, closed sales increased 8%.
The figure was led by a spike in condominium and townhome sales in the period, with sales increasing 26.8% in Sarasota County, the report shows. Single-family home sales increased by only
3%.
Additionally, median sale prices increased across all four segments, with gains ranging from 2.3% to 6.4%. Sellers received a larger share of their original asking prices, and homes generally reached contract sooner than the same time last year.
However, new pending single-family sales declined year-over-year in both counties, showing that activity varied as the quarter ended. The period ended with a lower active inventory than this time last year. Decreased inventory levels indicate less competition for sellers and fewer choices for buyers.
David Crawford, president of the region's realtor association and realtor with The Catalist Group at The Keyes Company, said in a prepared statement that the data still shows "a strengthening market."
"Even with new listings increasing across all segments, inventory continues to shrink, showing buyer demand is outpacing current supply," Crawford said.
The quarterly breakdown varied by property type, according to data from the Realtor Association of Sarasota and Manatee:
- During the third quarter, 2,071 single-family homes sold, which accounted for a 3% year-over-year increase. However, at the conclusion of the quarter, active listings were down 16.2%, with months' supply declining from 4.8 to 3.7 months.
- The median sale price rose 3.7% to $485,000, while the average sale price increased 20.2% to $807,627. Cash purchases represented 37.6% of closed sales.
- Sellers received a median of 94.4% of their original list price, compared to 91.9% one year earlier.
- For condominiums and townhouses, the market recorded 908 closed sales during the third quarter, an increase of 26.8% compared to last year. Active inventory was down 12.0% year-over-year, lowering months' supply from 6.8 to 4.9 months.
- The median sale price increased 6.4% to $324,380, while the average sale price rose 77.2% to $718,721. Cash buyers accounted for 60.9% of sales.
- Sellers received a median of 92% of their original list price, up from 88.4% in the third quarter of 2025.
Luxury sales skyrocket
In Sarasota County, the third quarter saw intense increases in the luxury sales sector.
For single-family homes, there were nine sales of $10 million or more, up from only one in the third quarter of 2025. For homes priced between $5 million and $10 million, there were 11 sales, compared to four last year.
Sarasota's condominium and townhome market recorded similar substantial increases at high price points, with 10 properties selling for $10 million or more, with none in this category selling in the three-month period in 2025. Another 15 with a price point between $5 million and $10 million sold, up from one last year.
How did September specifically measure up?
Active inventory and months' supply continued its gradual decline in September, with both figures lower than this time a year prior.
However, market activity in September reinforced the demand in the condominium and townhome sector, particularly in Sarasota County, with closings increasing 34.3% year-over-year. New pending sales in this sector increased 19.3%.
The numbers for single-family homes were more convoluted, with closed sales increasing in Sarasota County while simultaneously declining in Manatee County. Sarasota recorded 681 single-family home closings, which was a slight year-over-year increase of 5.4%. The median sales price was up 7.8%, cresting $485,000. However, new pending sales declined, falling 2.8% in Sarasota.
In September, there were five single-family closings priced at $10 million or more, which accounted for more than half of the luxury sales in the entire quarter. All 10 condominium and townhome sales at that price level were closed in September, concentrating much of the highest-priced activity.
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: Luxury sales, lower inventory define Sarasota market as quarter ends
