Is Sarasota, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Sarasota was a Seller's Market.
Key Takeaway
Sarasota is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Sarasota, FL
How much do homes in Sarasota, FL cost?
Median Sold Price
$524,387
$307/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Sarasota have sold for 3.3% more than they did a year ago.
Summary: The median home sold price in Sarasota was $524,387 in June 2024, up 3.3% from last year, and the median price per square foot was $307.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $293.1K | $234K | -20.2% |
| 2 Bedrooms | $388.4K | $406.5K | +4.7% |
| 3 Bedrooms | $541.6K | $536K | -1.0% |
| 4 Bedrooms | $844.3K | $863.2K | +2.2% |
| 5+ Bedrooms | $1.1M | $1.2M | +10.6% |
Summary: Sarasota housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.2%, 2 bedroom homes increased by 4.7%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 10.6%.
Median Sold Price Compared To Nearby Cities
| Sarasota | $507.6K | $524.3K | +3.3% |
| Longboat Key | $1.1M | $1.1M | -0.6% |
| Longboat Key | $1.2M | $1.1M | -8.2% |
Housing Supply in Sarasota, FL
How many homes are available in Sarasota, FL?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 3,368 | 3,179 | -5.6% |
Summary: The Sarasota real estate market had 3,179 homes for sale in June 2024, a 5.6% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 153 | 148 | -3.3% |
| 2 Bedrooms | 1,196 | 1,104 | -7.7% |
| 3 Bedrooms | 1,362 | 1,244 | -8.7% |
| 4 Bedrooms | 480 | 507 | +5.6% |
| 5+ Bedrooms | 177 | 176 | -0.6% |
Summary: The Sarasota housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 3.3%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes decreased by 8.7%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes decreased by 0.6%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 620 | 414 | -33.2% |
Asking Price vs. Sold Price
330 Homes Were Sold
Under Asking
67 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sarasota, you may be able to get a good deal. 79.7% of homes here sold below asking price last month.
Summary: A total of 414 homes were sold or pending in Sarasota in June 2024, down by 33.2% month-over-month. Of the 414 sold homes, 80% were sold under asking, 16% were sold at asking, and 4% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 41 Days | 66 Days | +60.1% |
Summary: Homes in Sarasota had an average of 66 days on market in Jun 2024, up by 60.1% compared to last year.
Breakdown of Home Sale Times
176 Homes Were Sold
Under 30 Days
123 Homes Were Sold
In 30 - 90 Days
115 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sarasota are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 414 homes were sold in Sarasota; 43% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.
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