Is Longboat Key, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Longboat Key has remained a Seller's Market.
Housing Prices in Longboat Key, FL
How much do homes in Longboat Key, FL cost?
Median Sold Price
$1,150,000
$710/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Longboat Key was $1,150,000 in May 2024, down 1.7% from last year, and the median price per square foot was $710.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $547.4K | $549.5K | 0.4% |
2 Bedrooms | $892.5K | $848.5K | -4.9% |
3 Bedrooms | $1.7M | $1.7M | -2.3% |
4 Bedrooms | $4.1M | $3.2M | -22.0% |
5+ Bedrooms | $6.0M | $5.3M | -11.4% |
Summary: Longboat Key housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.4%, 2 bedroom homes decreased by 4.9%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes decreased by 22%, and 5+ bedroom homes decreased by 11.4%.
Median Sold Price Compared To Nearby Cities
Bradenton Beach | $660K | $755K | +14.4% |
Sarasota | $515.8K | $521.3K | +1.1% |
Longboat Key | $1.1M | $1.1M | -1.7% |
Longboat Key | $1.2M | $1.1M | -11.0% |
Housing Supply in Longboat Key, FL
How many homes are available in Longboat Key, FL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
372 | 340 | -8.6% |
Summary: The Longboat Key real estate market had 340 homes for sale in May 2024, a 8.6% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 14 | 17 | +21.4% |
2 Bedrooms | 188 | 171 | -9.0% |
3 Bedrooms | 119 | 104 | -12.6% |
4 Bedrooms | 42 | 40 | -4.8% |
5+ Bedrooms | 9 | 8 | -11.1% |
Summary: The Longboat Key housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 21.4%, 2 bedroom homes decreased by 9%, 3 bedroom homes decreased by 12.6%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
60 | 58 | -3.3% |
Asking Price vs. Sold Price
47 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 58 homes were sold or pending in Longboat Key in May 2024, down by 3.3% month-over-month. Of the 58 sold homes, 81% were sold under asking, 16% were sold at asking, and 3% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
36 Days | 96 Days | +161.5% |
Summary: Homes in Longboat Key had an average of 96 days on market in May 2024, up by 161.5% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
24 Homes Were Sold
Over 90 Days
Summary: During May 2024, 58 homes were sold in Longboat Key; 29% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 41% of homes were sold over 90 days.