Is Longboat Key, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Longboat Key was a Seller's Market.
Key Takeaway
Longboat Key is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Longboat Key, FL
How much do homes in Longboat Key, FL cost?
Median Sold Price
$1,173,333
$732/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in Longboat Key has remained the same since last year.
Summary: The median home sold price in Longboat Key was $1,173,333 in March 2024, down 0.5% from last year, and the median price per square foot was $732.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $513.2K | $559.9K | +9.1% |
| 2 Bedrooms | $875K | $899.4K | +2.8% |
| 3 Bedrooms | $1.8M | $1.7M | -5.0% |
| 4 Bedrooms | $2.6M | $4.2M | +62.8% |
| 5+ Bedrooms | $4.3M | $5.4M | +25.7% |
Summary: Longboat Key housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 2.8%, 3 bedroom homes decreased by 5%, 4 bedroom homes increased by 62.8%, and 5+ bedroom homes increased by 25.7%.
Median Sold Price Compared To Nearby Cities
| Longboat Key | $1.1M | $1.1M | -0.5% |
| Sarasota | $526.7K | $513.2K | -2.6% |
| Bradenton Beach | $665K | $635K | -4.5% |
| Longboat Key | $1.3M | $1.1M | -13.2% |
Housing Supply in Longboat Key, FL
How many homes are available in Longboat Key, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 395 | 406 | +2.8% |
Summary: The Longboat Key real estate market had 406 homes for sale in March 2024, a 2.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 22 | 21 | -4.5% |
| 2 Bedrooms | 184 | 188 | +2.2% |
| 3 Bedrooms | 133 | 136 | +2.3% |
| 4 Bedrooms | 43 | 47 | +9.3% |
| 5+ Bedrooms | 13 | 14 | +7.7% |
Summary: The Longboat Key housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 4.5%, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 39 | 45 | +15.4% |
Asking Price vs. Sold Price
39 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 Longboat Key, you may be able to get a good deal. 86.7% of homes here sold below asking price last month.
Summary: A total of 45 homes were sold or pending in Longboat Key in March 2024, up by 15.4% month-over-month. Of the 45 sold homes, 87% were sold under asking, 9% were sold at asking, and 4% were sold over asking.
Days on Market for Longboat Key, FL
How long does it take to sell a home in Longboat Key, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 34 Days | 84 Days | +144.3% |
Summary: Homes in Longboat Key had an average of 84 days on market in Mar 2024, up by 144.3% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
19 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Longboat Key are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 45 homes were sold in Longboat Key; 31% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 42% of homes were sold over 90 days.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
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