Q1 2026 · Townhouses & Condos
Southwest Florida Metro Market Report
Source: Florida REALTORS® / Stellar MLS — North Port-Sarasota-Bradenton MSA
Median Sale Price
$323,995
-3.7% vs. Q1 2025
Closed Sales
1,750
+14.7% vs. Q1 2025
Median Time to Contract
68 Days
+14 days vs. Q1 2025
Months of Inventory
7.7
Down from 9.0 last year
New Listings
3,119
-12.8% vs. Q1 2025
Cash Sales
64%
1,118 of 1,750 sales
The quarter in review
The metro-wide condo and townhome market is showing clear signs of recovery. Closed sales rose 14.7% to 1,750 units, and dollar volume climbed 8.9% to $803 million. The median price pulled back 3.7% to $324,000 — a bigger correction than single-family, reflecting ongoing buyer caution around HOA costs, insurance, and special assessments that have weighed on the condo market since 2024.
Cash buyers continue to dominate this segment at 64% of all closings, a sign that financing challenges (higher rates, tighter condo lending requirements) are keeping some buyers on the sidelines while cash-ready investors and downsizers capitalize on pricing. Inventory improved, dropping 11.9% to 3,989 active listings with months of supply falling from 9.0 to 7.7. New listings are also declining (-12.8%), so the excess supply that built up over the past two years is being absorbed. At this pace, we could see the condo market approach balanced territory by late 2026.
If you’re buying
With 7.7 months of supply and sellers accepting 92.4% of list price, this remains a buyer-friendly segment. You have negotiating room, time to be selective, and price reductions are common. Cash buyers have the strongest position, but financed buyers can compete by bringing clean offers with strong lender pre-approvals. Focus your due diligence on HOA reserves, upcoming special assessments, and insurance costs — those are the hidden factors that separate a good condo deal from a costly mistake.
If you’re selling
The condo market is healing but hasn't fully turned yet. Volume is up, which is encouraging, but the 3.7% median decline means buyers expect value. Your best strategy: price competitively from day one, prepare your HOA financial docs before listing, and highlight any recent reserve improvements or favorable insurance renewals. Condos that sell quickly in this market are the ones where the seller removes uncertainty — make the buyer feel confident about what they're getting into.
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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