Is Sarasota, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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
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
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $318.5K | $238.6K | -25.1% |
| 2 Bedrooms | $400K | $400.1K | 0.0% |
| 3 Bedrooms | $563.6K | $534.1K | -5.2% |
| 4 Bedrooms | $850K | $843.9K | -0.7% |
| 5+ Bedrooms | $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 | $1.1M | $1.1M | +1.0% |
| Sarasota | $520.2K | $519K | -0.2% |
| Longboat Key | $1.2M | $1.1M | -9.7% |
Housing Supply in Sarasota, FL
How many homes are available in Sarasota, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3,600 | 3,534 | -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
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 154 | 165 | +7.1% |
| 2 Bedrooms | 1,374 | 1,351 | -1.7% |
| 3 Bedrooms | 1,391 | 1,350 | -2.9% |
| 4 Bedrooms | 486 | 482 | -0.8% |
| 5+ Bedrooms | 195 | 186 | -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 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 562 | 593 | +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
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 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 37 Days | 56 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
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.
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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.