What the Latest Numbers Tell Us About Buying or Selling in 34285

As a Venice real estate broker who lives and works right here on the island, I’m always watching our local condo market closely. The latest data (through May 2026) from Stellar MLS shows a market that has evolved significantly from the pandemic-era frenzy. Here’s a clear, data-driven breakdown of current trends specifically for condos, co-ops, and townhomes in ZIP 34285.

Inventory Levels Are Improving but Still Elevated

One of the most telling metrics is Months of Supply.

• During the 2020–early 2022 boom, supply was extremely tight — often under 1–2 months.
• That changed dramatically starting in 2023, with supply climbing sharply and peaking near 15 months in 2024.
• Good news on the recent trend: Months of supply have been declining from that high point and are now trending toward the 7–8 month range.

This suggests inventory is being absorbed more steadily, which is a positive sign for market stabilization even though we’re not yet back to a perfectly balanced level.

Homes Are Taking Longer to Sell

Average Days on Market (DOM) for sold condos tells a similar story:

• Sales happened quickly in the hot years (frequently under 30–50 days).
• Since 2022–2023, DOM has risen and remains noticeably higher, with many recent months falling in the 80–140+ day range.

Buyers today have more time to shop and compare, while sellers need realistic expectations and strong presentation to stand out.

Contract Activity Has Cooled

Looking at New Pendings (new contracts written):

Activity has generally been lower than the pre-2020 and early-pandemic peaks. While there is normal month-to-month fluctuation (including occasional stronger spikes), the overall pace of contracts reflects a more measured buyer environment.

Buyers Have More Leverage on Price

The Sold Price to Original List Price (SP/OLP) Ratio is one of the clearest indicators of shifting power:

• In the peak years, many condos sold at or even above list price (ratio often 95–104%).
• The trend reversed starting in 2023. Recent ratios have settled in the 85–90% range.

This means sellers are more frequently negotiating, offering concessions, or adjusting list prices to get properties under contract.

Average Sold Prices Have Moderated

Average Sold Prices rose sharply through 2020–early 2023. Since then, they have come back from the highest peaks. Recent averages are generally lower than those 2022–early 2024 highs, with many months in the $300k–$400k range (with normal variation depending on the specific properties closing).

What This Means for Venice Condo Buyers and Sellers Right Now

The data points to a buyer-favorable market that appears to be finding its footing. The extreme low-inventory, rapid-sale conditions of a few years ago are gone, but the sharp oversupply peak of 2024 has also started to ease.

• For Sellers: Pricing realistically from day one is critical. Overpriced listings tend to sit longer in the current environment. Strong staging, professional photos, and flexibility on terms can make a big difference.
• For Buyers: You have more negotiating room and time to find the right property. Well-maintained condos priced in line with recent sold data are moving, especially if they show well.

This remains a great time to make a move in Venice — whether you’re upgrading, downsizing, or investing — as long as you have realistic expectations based on today’s numbers.

Important Note on the Data: This summary reflects activity entered into Stellar MLS. It doesn’t capture every off-market sale or listings from the many other MLS systems available. It is, however, the most complete and reliable dataset for tracking these important trends in our local condo market.

If you’re thinking about buying or selling a condo in Venice (or anywhere in Sarasota, Charlotte, or Manatee counties), feel free to reach out. At Slice of Florida Realty, we focus on transparent guidance and creative solutions tailored to your goals.

Steve Martin Smith is the Broker/Owner of Slice of Florida Realty and Host of the globally downloaded Real Estate Agent Man Podcast

(941) 894-9800