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.
Housing Prices in Longboat Key, FL
How much do homes in Longboat Key, FL cost?
Median Sold Price
$1,172,333
$732/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Longboat Key was $1,172,333 in March 2024, down 13.2% 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 | $497K | $559.9K | +12.7% |
2 Bedrooms | $935K | $899.4K | -3.8% |
3 Bedrooms | $1.8M | $1.7M | -6.0% |
4 Bedrooms | $2.9M | $4.2M | +44.9% |
5+ Bedrooms | $6.7M | $5.4M | -19.8% |
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 12.7%, 2 bedroom homes decreased by 3.8%, 3 bedroom homes decreased by 6%, 4 bedroom homes increased by 44.9%, and 5+ bedroom homes decreased by 19.8%.
Median Sold Price Compared To Nearby Cities
Longboat Key | $1.1M | $1.1M | -0.5% |
Sarasota | $526.7K | $513.2K | -2.6% |
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
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
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.