The Sarasota luxury real estate market has been experiencing steady grow over the past few years, with an increasing demand for high-end homes and a limited supply of available properties. According to the REALTOR® Association of Sarasota and Manatee, the median sales price for single family homes in Sarasota was $405,00 in February 2021, up 22.7% from the previous year. These price increases are indicative of a strong seller's market, with high demand and low inventory.
The luxury market in particular has been performing well, with properties priced over $1 million seeing an increase in sales volume. In 2020, there were 757 closed sales for luxury homes in Sarasota County, up 25.6% from the previous year. This trend has continue into 2022, with luxury homes accounting for a significant portion of the overall real estate market in the area. Best Selling Areas Sarasota has many desirable neighborhoods and communities that are popular among luxury homebuyers. Some of the best-selling areas in Sarasota include:
Longboat Key: This barrier island is home to some of the most exclusive and luxurious homes in Sarasota.
It's a popular destination for those seeking waterfront properties with stunning views of the Gulf of Mexico.
Siesta Key: Another barrier island, Siesta Key is know for its white sand beaches and laid back island vibe. It's a popular destination for second home buyers and vacation rental investors.
The Oak: this gated community in Osprey offers luxury homes and amenities including two championship golf courses and a private marina.
Lakewood Ranch: Located east of Sarasota, Lakewood Ranch is a master-plan develop community that offers a range of home styles and amenities, including top-rated schools, shopping, dining, and entertainment options.
