October 2026 Luxury Market Update: What the Latest Data Shows

The most recent county report from the REALTOR Association of Sarasota and Manatee, released in August, covers July sales, and it tells a clear story: Sarasota County's market is tightening again, with fewer listings, rising prices, and strong demand at the top end. For buyers and sellers in the $750K-plus segment, the fall market is active and competitive. Here is what the data shows and what it means for your next move.

The Headline Numbers

Single-family home sales in Sarasota County totaled 744 closed transactions in July, up 2.9% from a year earlier. The median single-family price rose to $493,500, a 5.0% increase year over year, with the average sale price at roughly $764,000. Active single-family listings fell 23.4% to 2,736, bringing months of supply down to about 3.9, which keeps the overall market in seller-favorable territory. Sellers recaptured about 94% of list price on average, and roughly a third of all sales closed in cash.

Condos and Townhomes

The attached-home market was even livelier. Condo and townhome sales jumped 33.1% year over year, and the median price rose to about $340,000, up 13.3%. Condo inventory also fell year over year, though months of supply near six means buyers in that segment still have room to negotiate. It is a useful reminder that the Sarasota market is really several markets at once: different price points and property types are moving on different rhythms.

The Luxury Segment Above $1 Million

At the top end, 106 homes sold above $1 million in July, up from 101 a year earlier, and the Herald-Tribune reported in late August that million-dollar properties were driving the market's most eye-catching gains. Luxury inventory has tightened substantially: listings above $1 million dropped about 26% in a year, from roughly 997 to 734. Even so, the luxury segment carries more months of supply than the county as a whole, so motivated sellers still need sharp pricing, while prepared buyers can find real negotiating room on homes that have lingered.

What It Means for Buyers

For buyers, the message is to be ready. In the competitive $750K to $1.5M range, well-priced homes are drawing multiple showings quickly, and waiting to see a few more listings can cost you the one that fits. Get pre-approved, know your insurance and tax budget, and move when the right home appears. In the upper luxury tiers, there is more leverage: check days on market, compare recent concessions, and let your agent negotiate on your terms, not the listing's.

What It Means for Sellers

For sellers, the tightening inventory is good news, but pricing discipline still wins. The buyers who are out there are serious and well qualified, and a home priced honestly against recent sales will attract them within the first few weeks. Overpricing in this market simply hands your showings to the next listing. Presentation matters too: the homes selling fastest are the ones that photograph beautifully and show like a model.

The Fall Outlook

Fall is traditionally a strong window here: snowbirds arrive, out-of-state buyers come for visits, and the pace picks up as the holidays approach. With inventory as tight as it is, I expect the fall months to favor well-prepared buyers and fairly-priced sellers alike. If you are thinking about buying or selling in the $750K-plus range, now is the time to talk through your numbers, not when the calendar turns.

I would love to walk you through what the latest data means for your specific neighborhood and price point. Send me a note or give me a call, and let us build your plan for the fall market. I will work so hard for you, and you will still be talking about me in five years.