By Judie Berger, Premier Sotheby’s International Realty
As we enter the fall season, Siesta Key is coming back to life, including the real estate market. After a year of recuperation, restoration, slower sales, and rising inventory, we are finally seeing signs of market stabilization on Siesta Key — and that’s welcome news for both buyers and sellers.
Across the Gulf Coast, pending sales have been climbing steadily in recent months. New listings, which had surged earlier this year, have begun to level off, helping bring supply and demand into better balance. Recent weeks have shown an uptick in activity. Pending and sold contracts are climbing. Whether in anticipation of interest rate cuts, buyers seeing opportunity before our seasonal crowds arrive, or simply deciding that life cannot be put on hold any longer, energy is returning to the island’s real estate market. Online portals are up nearly 20% year-over-year, reflecting the highest level of home searches in the last two years. While we are no longer in the frenzied market of 2021–2022, today’s conditions are beginning to look more like pre-Covid 2019 — which many of us consider a “normal” and healthy baseline year.
The Fed’s September 17 Rate Cut
Adding to the positive momentum, the Federal Reserve lowered its benchmark rate by 0.25% on September 17, 2025, which pushed 30-year fixed mortgage rates to their lowest level in nearly a year (around 6.35%). This move has improved affordability for financed buyers and should encourage more activity as we head into fall and winter — traditionally strong seasons for our island’s real estate market.
Siesta Key by the Numbers (Mid-September 2024 – Mid-September 2025)
Single-Family Homes
- Sales: 169
- Cash vs. Financed: 121 cash (71.6%) | 48 financed (28.4%)
- Price Range: $415,000 – $10,350,000
- Average List-to-Sale Ratio: 92%
- Average Days to Close: 120
Condos & Townhomes
- Sales: 181
- Cash vs. Financed: 136 cash (75.1%) | 45 financed (24.9%)
- Price Range: $300,000 – $5,900,000
- Average List-to-Sale Ratio: 95%
- Average Days to Close: 131
These figures confirm what we experience daily: Siesta Key remains a cash-driven market, especially for condominiums, but lower mortgage rates may draw more financed buyers back into play — particularly in the $1M–$2.5M range for single-family homes.
What to Expect Moving Forward
- For Sellers: Proper pricing is essential. As always, newer construction and well-maintained and updated older homes are still commanding strong prices, while dated properties are selling at a discount. (A dynamic that holds true in any market.) Presenting your property at its best is key to attracting motivated fall buyers.
- For Buyers: This is an excellent window to act. Inventory is balanced, competition is still moderate, and borrowing costs just got a little lighter. Being fully underwritten for financing (or ready with proof of funds if paying cash) ensures you can move quickly when the right property appears. Additionally, if purchasing a primary home, closing before December 31st will enable a buyer to apply for the Florida Homestead property tax reduction.
Our market is finding its footing. Pending sales are improving, new listings are moderating, and with interest rates easing, I anticipate a more active close to 2025. Whether you are buying or selling, thoughtful preparation — and expert guidance — will position you for success in this evolving market.
I’ll be keeping you updated monthly on Siesta Key’s real estate activity. Have a wonderful Halloween!
When buying or selling, contact the Judie Berger Team at Premier Sotheby’s International Realty with all your real estate questions. A 30-year resident of Siesta Key, and the top-selling Realtor on the Key for the last 20 years, Judie and her team are the experts on Siesta Key. Call 941-928-3424. Visit us at www.homesofsarasota.com
Market & sales data source: RASM Stellar MLS compiled by Judie Berger, PA.
Federal Reserve decision coverage and context (Reuters/Investopedia), Freddie Mac PMMS weekly mortgage rate survey for the week of Sept. 11, 2025.
