Home sales report: Sarasota-Bradenton leads nation in slashing prices

Three residential housing markets on the west coast of Florida are among the national leaders in slashing prices, with the deepest cuts nationwide coming from the North Port-Sarasota-Bradenton market, according to a new report from real estate data company Redfin.

Nearly half, 48%, of all listings in the North Port-Sarasota-Bradenton experienced a price cut, according to Redfin. Next up is Tampa, where 44% of listings had a price cut, followed by Indianapolis with 43% and Cape Coral with 41%.

Some Florida metro areas are also seeing about double the housing supply, Redfin reports, driven in part because of the number of homes being built in the Sunshine State. Cape Coral and the North Port-Sarasota-Bradenton areas have the most pronounced housing supply increases, with 51% and 48% more homes for sale in those areas, respectively, compared with March 2023. Overall, six of the top 10 metro areas that saw the greatest increase in inventory are in Florida, according to Redfin: