$4,999,000
2,984 SqFt
3 Beds
•3 Full Baths, 1 Partial
Monica Verinder, Listing Office: COLDWELL BANKER REALTY
Is Downtown Sarasota, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Downtown Sarasota was a Neutral Market.
Key Takeaway
Downtown Sarasota is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Downtown Sarasota, FL
How much do homes in Downtown Sarasota, FL cost?
Median Sold Price
$1,247,156
$717/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$97,156(+8.4%)
Key Takeaway
Homes in Downtown Sarasota have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in Downtown Sarasota was $1,247,156 in October 2024, up 8.4% from last year, and the median price per square foot was $717.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $579K | $512.5K | -11.5% |
| 2 Bedrooms | $1.0M | $1.1M | +11.3% |
| 3 Bedrooms | $2.0M | $1.9M | -6.1% |
| 4 Bedrooms | $1.1M | $3.6M | +217.9% |
| 5+ Bedrooms | - | $2.9M | N/A |
Summary: Downtown Sarasota housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.5%, 2 bedroom homes increased by 11.3%, 3 bedroom homes decreased by 6.1%, 4 bedroom homes increased by 217.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Downtown Sarasota | $1.1M | $1.2M | +8.4% |
| Five Points | $1.3M | $1.2M | -8.0% |
Housing Supply in Downtown Sarasota, FL
How many homes are available in Downtown Sarasota, FL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 159 | 166 | +4.4% |
Summary: The Downtown Sarasota real estate market had 166 homes for sale in October 2024, a 4.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 19 | 18 | -5.3% |
| 2 Bedrooms | 76 | 80 | +5.3% |
| 3 Bedrooms | 51 | 54 | +5.9% |
| 4 Bedrooms | 13 | 14 | +7.7% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Downtown Sarasota housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 5.3%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 9 | -40.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Downtown Sarasota, you may be able to get a good deal. 77.8% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Downtown Sarasota in October 2024, down by 40.0% month-over-month. Of the 9 sold homes, 78% were sold under asking, 11% were sold at asking, and 11% were sold over asking.
Days on Market for Downtown Sarasota, FL
How long does it take to sell a home in Downtown Sarasota, FL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 61 Days | 76 Days | +25.4% |
Summary: Homes in Downtown Sarasota had an average of 76 days on market in Oct 2024, up by 25.4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Downtown Sarasota are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 9 homes were sold in Downtown Sarasota; 44% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
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