Record Number of Homes Pile Up in Florida—Making 2 Major Cities Hot Markets for Buyers

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Record Number of Homes Pile Up in Florida—Making 2 Major Cities Hot Markets for Buyers

The number of homes piling up on the market in

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has hit record highs for two months in a row—and two cities in particular are becoming hot markets for buyers as prices fall dramatically.

In February, 168,717 homes hit the market in the Sunshine State, the highest number in the history of

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data going back to July 2016—and nearly 40% higher than a year ago.

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topped the list of Florida metros that saw the biggest gains in inventory, with a 43.8% surge year over year, followed by

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with 42.7% and

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with 39.2%.

“For-***** home supply has climbed annually in the state since May 2022, but have only exceeded pre-pandemic levels since mid-2024,” says Realtor.com senior economic research analyst

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. “High home prices and mortgage rates have stifled demand in the state, leading to a buildup in home inventory.”

The February upswing followed January’s historic boost in inventory, which saw 157,221 homes on the market across the state, a 33.1% year-over-year increase. That was the highest number ever recorded by Realtor.com to date, before it was surpassed by more than 100,000 listings a month later.

2 Gulf Coast cities emerge as hot markets for buyers

As inventory surges and prices plummet, two Gulf Coast cities—

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and

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—are becoming decidedly more buyer-friendly.

“Home shoppers in Bradenton and Sarasota are in for a treat with climbing inventory, falling prices, and longer time on market,” says Jones. “Buyers are likely to find more seller flexibility as homeowners aim to attract buyer attention.”

The

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closely mirrors the latest data from Realtor.com, highlighting a drop in median ***** prices and an uptick in finalized, or “closed,” sales, suggesting that the market is softening.

Bradenton, FL

In Bradenton, a city of 57,000 residents located south of

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, median list prices have been in a steady decline since March 2023, after peaking at $549,000 in June 2022, according to data analyzed by Jones.

Bradenton, FL

(Getty Images)

As of January of this year, a typical home in Bradenton cost $432,000, more than $100,000 less than a year and a half ago.

At the same time, residential properties in Bradenton lingered on the market for 67 days in January, three days more than a year ago—and more than 40 days longer compared with the height of the COVID-19 pandemic.

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(Realtor.com)

As of January, the number of for-***** listings in Bradenton was 1,900, up from around 1,600 during the pre-pandemic January.

In the surrounding Manatee County, there was a total of 498 single-family home sales, marking an increase of just over 22% compared with a year ago, according to the RASM report. The median ***** price dropped 8.6%, to $480,000.

Manatee County ended January with 2,907 active listings, with the median time to ***** jumping 14%, to a whopping 98 days.

“While closed sales have increased, inventory growth continues to outpace demand, leading to anextended months’ supply,” says

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, 2025 RASM president and managing broker of

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. “This shift presents opportunities for buyers while emphasizing the importance of strategic pricing for sellers.”

Sarasota, FL

In the city of Sarasota, which sits on the Gulf Coast south of Tampa, median list prices fell almost every month from November 2023 to January 2025, according to the latest available figures from Realtor.com.

The median list price reached a high point of $725,000 in July 2023, but by January of this year, it shed $150,000, settling at $575,000.

Homes in Sarasota typically stayed on the market for 67 days in January, two more days compared with the same time last year—and close to 40 days longer than during the peak of the pandemic.

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(Realtor.com)

According to the January report from RASM, in the surrounding Sarasota County, single-family home sales grew by 6.8% in January year over year, with 520 homes sold.

But at the same time, the local home stock surged by more than 30% from January 2024, offering would-be buyers more options to choose from and making the market less competitive in the process.

The county saw the median time to ***** increase to 85 days, with more than 2,900 active listings remaining by the end of January.

Townhome and condo sector cooling off

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and

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in both Sarasota and Manatee counties lingered on the market for longer than before and were more affordable than a year ago.

In Sarasota, the number of townhomes and condos shot up to 2,463 last month, while the median ***** price plummeted 17.4%, to $347,000.

Similarly, in Manatee County, which is home to Bradenton, the roster of active listings reached 1,714, as the median ***** price dropped by more than 6%, to $335,990.

In both counties, townhomes and condos stood unsold more than 85 days, bolstering buyers’ negotiating power.

“Median home prices have adjusted in response to increasing inventory, particularly in Sarasota’s condo market,” says Reynolds. “With townhomes and condos in both counties exceeding eight months of supply, market conditions now favor buyers.”

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