Is Sarasota, 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, Sarasota was a Seller's Market.
Housing Prices in Sarasota, FL
How much do homes in Sarasota, FL cost?
Median Sold Price
$513,207
$305/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Sarasota was $513,207 in March 2024, down 2.6% from last year, and the median price per square foot was $305.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $358.4K | $235.2K | -34.4% |
2 Bedrooms | $404.6K | $400.7K | -1.0% |
3 Bedrooms | $575.6K | $528.9K | -8.1% |
4 Bedrooms | $855.8K | $831K | -2.9% |
5+ Bedrooms | $1.3M | $1.2M | -9.1% |
Summary: Sarasota housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.4%, 2 bedroom homes decreased by 1%, 3 bedroom homes decreased by 8.1%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes decreased by 9.1%.
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 Sarasota, FL
How many homes are available in Sarasota, FL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
3,444 | 3,576 | +3.8% |
Summary: The Sarasota real estate market had 3,576 homes for sale in March 2024, a 3.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 162 | 164 | +1.2% |
2 Bedrooms | 1,298 | 1,374 | +5.9% |
3 Bedrooms | 1,334 | 1,354 | +1.5% |
4 Bedrooms | 466 | 481 | +3.2% |
5+ Bedrooms | 184 | 203 | +10.3% |
Summary: The Sarasota housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 1.2%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 10.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
415 | 531 | +28.0% |
Asking Price vs. Sold Price
414 Homes Were Sold
Under Asking
87 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Summary: A total of 531 homes were sold or pending in Sarasota in March 2024, up by 28.0% month-over-month. Of the 531 sold homes, 78% were sold under asking, 16% were sold at asking, and 6% were sold over asking.
Days on Market for Sarasota, FL
How long does it take to sell a home in Sarasota, FL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
43 Days | 62 Days | +44.0% |
Summary: Homes in Sarasota had an average of 62 days on market in Mar 2024, up by 44% compared to last year.
Breakdown of Home Sale Times
234 Homes Were Sold
Under 30 Days
159 Homes Were Sold
In 30 - 90 Days
138 Homes Were Sold
Over 90 Days
Summary: During March 2024, 531 homes were sold in Sarasota; 44% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.