Is Longboat Key, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Longboat Key was a Seller's Market.
Housing Prices in Longboat Key, FL
How much do homes in Longboat Key, FL cost?
Median Sold Price
$1,173,000
$727/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Longboat Key was $1,173,000 in April 2024, down 9.7% from last year, and the median price per square foot was $727.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $497K | $557.5K | +12.2% |
2 Bedrooms | $950K | $862.5K | -9.2% |
3 Bedrooms | $1.8M | $1.6M | -8.1% |
4 Bedrooms | $3.0M | $3.9M | +27.7% |
5+ Bedrooms | $6.7M | $5.3M | -21.0% |
Summary: Longboat Key housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.2%, 2 bedroom homes decreased by 9.2%, 3 bedroom homes decreased by 8.1%, 4 bedroom homes increased by 27.7%, and 5+ bedroom homes decreased by 21%.
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 Longboat Key, FL
How many homes are available in Longboat Key, FL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
401 | 383 | -4.5% |
Summary: The Longboat Key real estate market had 383 homes for sale in April 2024, a 4.5% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 18 | 14 | -22.2% |
2 Bedrooms | 189 | 190 | 0.5% |
3 Bedrooms | 135 | 125 | -7.4% |
4 Bedrooms | 48 | 44 | -8.3% |
5+ Bedrooms | 11 | 10 | -9.1% |
Summary: The Longboat Key housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 22.2%, 2 bedroom homes increased by 0.5%, 3 bedroom homes decreased by 7.4%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
46 | 58 | +26.1% |
Asking Price vs. Sold Price
43 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 58 homes were sold or pending in Longboat Key in April 2024, up by 26.1% month-over-month. Of the 58 sold homes, 74% were sold under asking, 21% were sold at asking, and 5% were sold over asking.
Days on Market for Longboat Key, FL
How long does it take to sell a home in Longboat Key, FL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
68 Days | 59 Days | -12.6% |
Summary: Homes in Longboat Key had an average of 59 days on market in Apr 2024, down by 12.6% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Summary: During April 2024, 58 homes were sold in Longboat Key; 47% 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.