Is Sarasota, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sarasota is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Sarasota has remained a Seller's Market.

Key Takeaway

Sarasota is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Sarasota, FL

How much do homes in Sarasota, FL cost?

Median Sold Price

$519,031

$306/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$1,262(-0.2%)

Key Takeaway

The sold price of homes in Sarasota has remained the same since last year.

Summary: The median home sold price in Sarasota was $519,031 in April 2024, down 0.2% from last year, and the median price per square foot was $306.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $318.5K$238.6K
-25.1%
2 $400K$400.1K
0.0%
3 $563.6K$534.1K
-5.2%
4 $850K$843.9K
-0.7%
5+ $1.1M$1.3M
+9.0%

Summary: Sarasota housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25.1%, 2 bedroom homes did not change, 3 bedroom homes decreased by 5.2%, 4 bedroom homes decreased by 0.7%, and 5+ bedroom homes increased by 9%.

Median Sold Price Compared To Nearby Cities

Longboat Key
+1.0%
Sarasota
-0.2%
Longboat Key
-9.7%

Housing Supply in Sarasota, FL

How many homes are available in Sarasota, FL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
3,6003,534-1.8%

Summary: The Sarasota real estate market had 3,534 homes for sale in April 2024, a 1.8% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 154165
+7.1%
2 1,3741,351
-1.7%
3 1,3911,350
-2.9%
4 486482
-0.8%
5+ 195186
-4.6%

Summary: The Sarasota housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.1%, 2 bedroom homes decreased by 1.7%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes decreased by 4.6%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
562593+5.5%

Asking Price vs. Sold Price

462 Homes Were Sold
Under Asking

90 Homes Were Sold
At Asking

41 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sarasota, you may be able to get a good deal. 77.9% of homes here sold below asking price last month.

Summary: A total of 593 homes were sold or pending in Sarasota in April 2024, up by 5.5% month-over-month. Of the 593 sold homes, 78% were sold under asking, 15% were sold at asking, and 7% 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

Apr 2023Apr 2024CHANGE
37 Days56 Days+50.0%

Summary: Homes in Sarasota had an average of 56 days on market in Apr 2024, up by 50% compared to last year.

Breakdown of Home Sale Times

272 Homes Were Sold
Under 30 Days

169 Homes Were Sold
In 30 - 90 Days

152 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 593 homes were sold in Sarasota; 46% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 26% 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 19 Days Ago

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