The Florida housing market is undergoing a major transformation, with record-high inventory levels creating new opportunities for buyers. In February alone, over 168,000 homes were listed for sale—marking the highest number recorded in Realtor.com® data. This surge, driven by rising home prices and mortgage rates, has led to a significant cooling in the market, particularly in two Gulf Coast cities: Sarasota and Bradenton.
What’s Happening in Florida’s Housing Market?
For the second consecutive month, Florida has seen a historic increase in available homes. In January, 157,221 homes were on the market, a 33.1% increase from the previous year. February surpassed that with a 40% increase in inventory, the largest since tracking began in 2016.
Among the Florida metros with the biggest inventory jumps:
- Orlando: +43.8%
- Cape Coral: +42.7%
- Miami: +39.2%
With higher supply and decreased demand, sellers are adjusting their strategies, making this a great time for buyers looking for affordability and negotiation power.
Sarasota & Bradenton—Now Buyer-Friendly Markets
Two of Florida’s Gulf Coast cities, Sarasota and Bradenton, have become prime buyer markets as home prices fall and properties sit on the market longer.
Bradenton, FL: Home Prices Down Over $100K
- Median list price: $432,000 (down from $549,000 in 2022)
- Homes spend an average of 67 days on the market
- Active listings: 1,900+
- Manatee County home sales: +22% year-over-year
- Median sale price: $480,000 (-8.6%)
Buyers in Bradenton now have more choices, better prices, and longer timeframes to make purchasing decisions.
Sarasota, FL: Price Drops & More Inventory
- Median list price: $575,000 (down from $725,000 in July 2023)
- Homes spend an average of 67 days on the market
- Sarasota County home sales: +6.8%
- Active listings: 2,900+
- Median sale price for townhomes/condos: $347,000 (-17.4%)
With Sarasota’s inventory up 30% year-over-year, buyers have more negotiating power and access to a variety of homes at reduced prices.
Condos & Townhomes—A Cooling Market
Condos and townhomes across Sarasota and Manatee counties are also becoming more affordable.
- Sarasota median price: $347,000 (-17.4%)
- Manatee median price: $335,990 (-6%)
- Condos and townhomes remain unsold for over 85 days, offering buyers strong negotiation leverage
How This Compares to Colorado Springs’ Market
While Florida is seeing a surge in inventory and price reductions, Colorado Springs remains a steady, seller-favored market in many areas.
- Inventory levels in Colorado Springs have grown, but not at the dramatic rates seen in Florida.
- Home prices remain relatively stable, though buyers have more room for negotiation than they did during the peak of 2021–2022.
- Well-priced homes are still moving quickly, especially in sought-after neighborhoods.
This contrast highlights the importance of local market conditions when buying or selling a home. While Florida's real estate market is becoming increasingly buyer-friendly, Colorado Springs remains more balanced, offering opportunities for both buyers and sellers depending on their goals.
Thinking about relocating or investing? Let’s talk about what’s happening in both markets and how to make the most of current trends.
🔗 Read the full article here: Record Number of Homes Pile Up in Florida—Making 2 Major Cities Hot Markets for Buyers
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About the Author
Nicole Strom
Nicole is a retired military spouse of over 25 years, as well as a full time Real Estate Professional serving her clients in and around Colorado Springs.
You need a REALTOR® with vast experience and knowledge of our specific market. You need a REALTOR® that genuinely cares about you and puts your needs first. You need a REALTOR® you can trust. Nicole is that REALTOR®.
