Is Longboat Key, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, Longboat Key has remained a Buyer'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
$1,200,000
$731/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Longboat Key have sold for 10.6% less than they did a year ago.
Summary: The median home sold price in Longboat Key was $1,200,000 in November 2023, down 10.6% from last year, and the median price per square foot was $731.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $675K | $549K | -18.7% |
| 2 Bedrooms | $997.5K | $910K | -8.8% |
| 3 Bedrooms | $1.7M | $1.6M | -4.0% |
| 4 Bedrooms | $2.5M | $4.1M | +62.7% |
| 5+ Bedrooms | $5.5M | $4.8M | -12.4% |
Summary: Longboat Key housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 18.7%, 2 bedroom homes decreased by 8.8%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 62.7%, and 5+ bedroom homes decreased by 12.4%.
Median Sold Price Compared To Nearby Cities
| Longboat Key | $1.1M | $1.1M | 0.2% |
| Sarasota | $530.5K | $509.8K | -3.9% |
| Longboat Key | $1.3M | $1.2M | -10.6% |
Housing Supply in Longboat Key, FL
How many homes are available in Longboat Key, FL?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 229 | 264 | +15.3% |
Summary: The Longboat Key real estate market had 264 homes for sale in November 2023, a 15.3% increase compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 15 | 16 | +6.7% |
| 2 Bedrooms | 96 | 119 | +24.0% |
| 3 Bedrooms | 78 | 83 | +6.4% |
| 4 Bedrooms | 28 | 33 | +17.9% |
| 5+ Bedrooms | 12 | 13 | +8.3% |
Summary: The Longboat Key housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 6.7%, 2 bedroom homes increased by 24%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 25 | 29 | +16.0% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Longboat Key, you may be able to get a good deal. 79.3% of homes here sold below asking price last month.
Summary: A total of 29 homes were sold or pending in Longboat Key in November 2023, up by 16.0% month-over-month. Of the 29 sold homes, 79% were sold under asking, 17% were sold at asking, and 3% 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
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 24 Days | 80 Days | +234.1% |
Summary: Homes in Longboat Key had an average of 80 days on market in Nov 2023, up by 234.1% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Longboat Key are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 29 homes were sold in Longboat Key; 45% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
Copyright 2023 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.