May 2026 · Townhouses & Condos
Southwest Florida Metro Market Report
Source: Florida REALTORS® / Stellar MLS, North Port-Sarasota-Bradenton MSA
Median Sale Price
$315,000
-0.3% vs. May 2025
-3.1% vs. April 2026
Closed Sales
659
+8.6% vs. May 2025
-12.4% vs. April 2026
Median Time to Contract
64 Days
+5 days vs. May 2025
Unchanged vs. April 2026
Months of Inventory
6.8
Down from 8.6 last year
Down from 7.3 in April
Cash Sales
57%
375 of 659 sales
-8.0 pts vs. April 2026
Dollar Volume
$282.7M
+9.3% vs. May 2025
The second line, where shown, compares to the immediately prior published period and is not seasonally adjusted, Southwest Florida real estate moves with the calendar, so a single-period swing can reflect the time of year as much as the underlying market.
The month in review
Metro-wide condo prices are essentially flat year-over-year at $315,000, a $1,000 dip that rounds to -0.3%. After the volatility of Q1's 3.7% decline and April's 1.6% bounce, May's near-zero change signals genuine price stabilization. Volume continues to strengthen: closed sales rose 8.6% to 659 transactions and dollar volume jumped 9.3% to $282.7 million. Cash buyers account for 57% of closings.
The supply correction is accelerating. Active listings dropped 14.7% to 3,601 units and months of supply fell from 8.6 to 6.8, approaching balanced territory for the first time since the condo correction began. New listings plunged 15.5%, meaning the pipeline of new competition is shrinking fast. Pending inventory surged 17.1%, pointing to continued closing momentum through the summer. The condo market across the metro has stabilized, prices are flat, volume is up, and the inventory overhang from 2025 is being absorbed at an accelerating pace.
If you’re buying
Condo prices have stabilized across the metro at $315K, the steep discounts of late 2025 are gone. With inventory dropping 15% and new listings down even further, the selection is narrowing. You still have more leverage than in the single-family market with 6.8 months of supply, but the window is closing. Focus on buildings with strong financials and reasonable insurance, those are the first to recover.
If you’re selling
Price stabilization is here. The median is essentially flat, volume is up nearly 9%, and the supply overhang is being absorbed rapidly with inventory down 15%. New listings are falling even faster (-15.5%), meaning less competition ahead. If your building has clean HOA reserves and manageable assessments, this is a good time to list, buyer demand is clearly present and growing, and you're keeping more of your asking price than a year ago.
Market data is sourced from the MLS and local REALTOR® association reports and is deemed reliable but not guaranteed. Figures reflect the stated property type and area for the period indicated and are provided for general informational purposes only, they are not an appraisal, a guarantee of value, or investment advice. For an analysis specific to your property, request a custom report.
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