Cash buyers are continuing to rule Florida’s real estate market. The Sunshine State dominates national rankings for all-cash home purchases, claiming six of the top 10 cities in the country, including three in Southwest Florida. While no cities in Manatee and Sarasota counties are on that list, cities in both markets still outpace national averages by a wide margin.
Buyers are seeing steady improvements in the real estate market across the U.S., but demand remains weak despite more favorable conditions. Mortgage rates continue to decline, and both new listings and builder confidence are on the rise, according to the latest data. However, high home prices and ongoing economic uncertainty continue to weigh heavily on prospective buyers, slowing mortgage applications. Buyers remain hesitant, with concerns about job security and affordability playing a major role. Overall mortgage applications fell 1.8% for the week ending October 10, while purchase applications dropped 3%.
Florida Realtors has put together the infographic below to help you consider all of the costs of your next home purchase.
In August 2025, the single-family home market in Manatee County, Florida showed signs of improving. Closed sales increased by 5.7% compared to the previous year, totaling 650 transactions. However, the median sale price declined by 5.3%, suggesting that the lower end of the market is outperforming the upper end. Active inventory rose 13% YoY, suggesting that supply is still outpacing demand. Cash sales made up just 28.5% of closed transactions, a sharp 30.7% decrease year-over-year, indicating a possible shift in buyer type.
On the listing side, new listings were down 4.3% from last year, while new pending sales jumped 17%. This uptick in pending sales could signal renewed buyer interest ahead of our busy season. Overall, the market appears to still be slowly rebalancing, which can be good for both sides of transactions. The infographic below from Florida Realtors contains more.
Mortgage interest rates have continued to decline over the past 30 days. As of this week, the average U.S. rate for a 30-year fixed mortgage is 6.35%, down from 6.58% a month ago. Some borrowers have even reported locking in rates below 6% online. While most forecasts suggest this downward trend may continue gradually through 2025, it’s unclear whether the expected Fed rate cuts are already priced into current mortgage rates.