Is Downtown Sarasota, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Downtown Sarasota has remained a Neutral Market.
Key Takeaway
Downtown Sarasota is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Downtown Sarasota, FL
How much do homes in Downtown Sarasota, FL cost?
Median Sold Price
$1,292,346
$724/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Downtown Sarasota have sold for 18.4% more than they did a year ago.
Summary: The median home sold price in Downtown Sarasota was $1,292,346 in April 2024, up 18.4% from last year, and the median price per square foot was $724.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $575K | $530K | -7.8% |
| 2 Bedrooms | $955K | $1.2M | +25.7% |
| 3 Bedrooms | $1.9M | $2.0M | +3.8% |
| 4 Bedrooms | $1.1M | $2.2M | +99.8% |
| 5+ Bedrooms | - | - | N/A |
Summary: Downtown Sarasota housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.8%, 2 bedroom homes increased by 25.7%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 99.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Downtown Sarasota | $1.0M | $1.2M | +18.4% |
| Burns Square | $1.1M | $1.3M | +13.9% |
| Five Points | $1.5M | $1.2M | -17.6% |
Housing Supply in Downtown Sarasota, FL
How many homes are available in Downtown Sarasota, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 243 | 240 | -1.2% |
Summary: The Downtown Sarasota real estate market had 240 homes for sale in April 2024, a 1.2% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 16 | 16 | 0.0% |
| 2 Bedrooms | 129 | 127 | -1.6% |
| 3 Bedrooms | 85 | 86 | +1.2% |
| 4 Bedrooms | 11 | 9 | -18.2% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Downtown Sarasota housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 1.6%, 3 bedroom homes increased by 1.2%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 26 | 37 | +42.3% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Downtown Sarasota, you may be able to get a good deal. 83.8% of homes here sold below asking price last month.
Summary: A total of 37 homes were sold or pending in Downtown Sarasota in April 2024, up by 42.3% month-over-month. Of the 37 sold homes, 84% were sold under asking, 11% were sold at asking, and 5% were sold over asking.
Days on Market for Downtown Sarasota, FL
How long does it take to sell a home in Downtown Sarasota, FL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 47 Days | 65 Days | +38.0% |
Summary: Homes in Downtown Sarasota had an average of 65 days on market in Apr 2024, up by 38% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Downtown Sarasota are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 37 homes were sold in Downtown Sarasota; 38% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 35% of homes were sold over 90 days.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
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