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.
Key Takeaway
Sarasota is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
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
Key Takeaway
Homes in Sarasota have sold for 2.6% less than they did a year ago.
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
Key Takeaway
If you're buying a home in Sarasota, you may be able to get a good deal. 78% of homes here sold below asking price last month.
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
Key Takeaway
Many homes in Sarasota are selling fast, if you're buying plan to act quickly.
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.
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© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.