Longboat Key Florida Sales up 26%

Boating and Waterfront on Longboat Key, FL


(Sarasota - Noverber 14, 2011)
Longboat Key sales in Sarasota County by unit are up 26% through November 14, 2011 as compared to the same period last year.  These numbers provide further evidence that this market is at the bottom.  The key indicator, price per square foot sold, remains virtually unchanged.  There is a drop in the median sales price of 18%, which simply reflects the lower priced end of this market is more active than last year.  Yes, the bargain hunters are out in the waterfront market right now.

  2010  2011   % Change
Units Sold    198  250  +26%
 Avg. Sq. Ft.   2,063  2,010 -3% 
 Avg. Sales Price $790,277 $782,813 <1%
 Avg List Price / sq. ft.  $395.56  $393.72 <1% 

 Avg. Sold Price / sq. ft.

 $351.40

 $350.41

<1% 

Median List Price   $687,000 $564,000  -18% 
 Median Sales Price  $630,000 $518,750 -18%
 Median List Price / sq. ft.   $387.34 $365.24 -6%
 Median Sold Price / sq. ft.   $336.03 $334.01 <1%


The Siesta Key condominium market is also showing an 18% gain in overall units sold with a modest decrease in the sold cost per square foot.  Longboat Key and Siesta Key share similar cost per sqaure footage however, the average square footage of units selling on Longboat Key is quite a bit larger.  Bird Key is also posting a 50% increase in the total units sold and reports double-digit price increases in all categories including a 17% rise in the cost per square foot for sold properties this year.  Waterfront property sales have been long held as the bell weather for our overall market direction.  The smart money is betting we go up from here.  Can you say, “Bottoms Up!”

When it comes to finding a Longboat Key beach front condominium or waterfront home on one of the nicest beaches in the US, we are the local experts.  We love the water and are eager to show you the lifestyle you can enjoy.  Call John Woodward and his team.  They are ready to go to work for you.  Give them a call at 941-922-8400.