Sarasota Boomers Aging in Place

The Sarasota County housing market is experiencing notable shifts influenced by various factors, including the behavior of baby boomer homeowners, rising interest rates, and an influx of new construction.

Baby Boomers Aging in Place

Nationally, many baby boomers are choosing to remain in their homes longer, a trend often referred to as “aging in place.” This decision is influenced by several factors, including financial considerations such as low mortgage rates secured in previous years, making moving less attractive. Additionally, emotional attachments and the desire to maintain community ties contribute to their reluctance to sell. This trend reduces the turnover of existing homes, impacting the overall housing supply.

Impact of New Construction on Sarasota’s Housing Market
In addition to the supply of existing homes, Sarasota County has seen a significant increase in new construction projects.

Between June 2022 and June 2023, the metro area, including Sarasota and Manatee counties, experienced a 24% increase in new residential units. This surge positioned the region as a leading area for new home construction in the country.

The influx of new homes has contributed to a shift in the market dynamics.

Increased Inventory: The availability of new homes has led to a higher overall housing inventory. In January 2025, Sarasota County’s single-family home inventory rose by nearly 31% year-over-year, reaching a 6.4-month supply.

Pricing Adjustments: With more options available, buyers have gained leverage, leading to price stabilization or declines. For instance, the median sale price for single-family homes in Sarasota County experienced a slight decrease of 1% to $529,750 in January 2025.

Extended Time on Market: Homes are remaining on the market longer. The median time to contract for single-family homes increased to 45 days, a 12.5% rise compared to the previous year.

Balancing Act: Supply and Demand
While new construction has alleviated some supply constraints, challenges remain:

Affordability Concerns: Despite increased inventory, affordability continues to be an issue, particularly for first-time homebuyers. The median sale price, although stabilizing, remains relatively high, limiting access for some buyers.

Market Segmentation: Older condos face challenges competing with newer constructions, as buyers often prefer modern amenities and updated building codes. This preference has led to longer listing times and necessitated price adjustments for older properties.

Sarasota County’s housing market is navigating a complex landscape where the traditional reluctance of baby boomers to sell is counterbalanced by a surge in new construction. This dynamic has led to increased inventory and more favorable conditions for buyers, though affordability and market segmentation continue to present challenges.
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Forest Balderson is a Realtor with Suncoast Luxury Team at Coldwell Banker Downtown Sarasota. He lives in Gulf Gate Estates, and serves as President of its community association. Balderson earned a BA in Creative Writing with a graduate certificate in Board Governance and Nonprofit Management.

Email Author:
📧Forest.Balderson@cbrealty.com