Is Longboat Key, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Longboat Key is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Longboat Key was a Neutral 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

$1,226,666

$720/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$32,666(+2.7%)

Key Takeaway

Homes in Longboat Key have sold for 2.7% more than they did a year ago.

Summary: The median home sold price in Longboat Key was $1,226,666 in November 2024, up 2.7% from last year, and the median price per square foot was $720.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $549K$849K
+54.6%
2 $910K$848.5K
-6.8%
3 $1.6M$1.7M
+4.8%
4 $4.1M$3.5M
-15.7%
5+ $4.8M$6.4M
+33.9%

Summary: Longboat Key housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 54.6%, 2 bedroom homes decreased by 6.8%, 3 bedroom homes increased by 4.8%, 4 bedroom homes decreased by 15.7%, and 5+ bedroom homes increased by 33.9%.

Median Sold Price Compared To Nearby Cities

Longboat Key
+6.0%
Longboat Key
+2.7%
Sarasota
+1.1%

Housing Supply in Longboat Key, FL

How many homes are available in Longboat Key, FL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
178213+19.7%

Summary: The Longboat Key real estate market had 213 homes for sale in November 2024, a 19.7% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 1518
+20.0%
2 7488
+18.9%
3 5665
+16.1%
4 2427
+12.5%
5+ 915
+66.7%

Summary: The Longboat Key housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 18.9%, 3 bedroom homes increased by 16.1%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 66.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
4420-54.5%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Longboat Key, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 20 homes were sold or pending in Longboat Key in November 2024, down by 54.5% month-over-month. Of the 20 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% 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 2023Nov 2024CHANGE
80 Days79 Days-1.7%

Summary: Homes in Longboat Key had an average of 79 days on market in Nov 2024, down by 1.7% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Longboat Key are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 20 homes were sold in Longboat Key; 45% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 5 Days Ago

Newest Listings in Longboat Key, FL

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