$10,000 Closing Credit*
$1,190,000
1,184 SqFt
2 Beds
•2 Full Baths
Joey Lamielle, Listing Office: RE/MAX ALLIANCE GROUP
Is Longboat Key, 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, Longboat Key was a Neutral Market.
Key Takeaway
Longboat Key is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Longboat Key, FL
How much do homes in Longboat Key, FL cost?
Median Sold Price
$1,225,000
$719/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$25,000(+2.1%)
Key Takeaway
Homes in Longboat Key have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in Longboat Key was $1,225,000 in October 2024, up 2.1% from last year, and the median price per square foot was $719.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $554.4K | $812K | +46.5% |
| 2 Bedrooms | $915K | $848.5K | -7.3% |
| 3 Bedrooms | $1.6M | $1.6M | -0.6% |
| 4 Bedrooms | $4.2M | $3.4M | -17.3% |
| 5+ Bedrooms | $4.8M | $5.5M | +14.1% |
Summary: Longboat Key housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 46.5%, 2 bedroom homes decreased by 7.3%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes decreased by 17.3%, and 5+ bedroom homes increased by 14.1%.
Median Sold Price Compared To Nearby Cities
| Longboat Key | $1.1M | $1.2M | +6.0% |
| Sarasota | $499.9K | $520.7K | +4.2% |
| Longboat Key | $1.2M | $1.2M | +2.1% |
Housing Supply in Longboat Key, FL
How many homes are available in Longboat Key, FL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 191 | 170 | -11.0% |
Summary: The Longboat Key real estate market had 170 homes for sale in October 2024, a 11.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 16 | +45.5% |
| 2 Bedrooms | 85 | 70 | -17.6% |
| 3 Bedrooms | 56 | 53 | -5.4% |
| 4 Bedrooms | 28 | 22 | -21.4% |
| 5+ Bedrooms | 11 | 9 | -18.2% |
Summary: The Longboat Key housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 45.5%, 2 bedroom homes decreased by 17.6%, 3 bedroom homes decreased by 5.4%, 4 bedroom homes decreased by 21.4%, and 5+ bedroom homes decreased by 18.2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 41 | 43 | +4.9% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Longboat Key, expect to pay close to the asking price. 53.5% of homes here sold near the asking price last month.
Summary: A total of 43 homes were sold or pending in Longboat Key in October 2024, up by 4.9% month-over-month. Of the 43 sold homes, 42% were sold under asking, 53% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 67 Days | 67 Days | -0.6% |
Summary: Homes in Longboat Key had an average of 67 days on market in Oct 2024, down by 0.6% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Longboat Key are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 43 homes were sold in Longboat Key; 63% of homes were sold within 30 days, 5% 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.
Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.