Longboat Key Real Estate Market Report – June 2022

GinaUrsini

2 years ago

An arial view of homes along the bay in Longboat Key FL

Take a look at what’s happening in the Longboat Key real estate market. See how prices have changed over the past year, find out how quickly homes are selling, and learn what the future holds for this beach community.

Market reports like this are a great way to stay on top of the local real estate market conditions.

Median Sales Price

The median price is the price that falls in the middle of the home sale prices. So, half of the homes sold for less than the median price, and half of the homes sold for more than the median price.

This is different than the average price, which is calculated by adding all of the home sale prices together and then dividing by the number of homes sold.

The median price is a better indicator of what is happening in the market because it is not influenced by a few homes that sell for very high or low prices.

Over the past year, the median sale price for Longboat Key, Florida increased from $782,500 to $1,060,000.

Over the past 12 months, the median number of sales decreased from 82 closed sales to 39 closed sales.

Let’s look back to see how the median price and days on market have changed over the past 10 years.

The table shows the median sale price for homes in Longboat Key, Florida from 2012 to 2022. As you can see, the median sale price for homes in Longboat Key has increased significantly.

In 2012, the median sale price was $485,000. In 2022, the median sale price has increased to $1,100,000.

Gina Ursini – Brista Realty LLC – gina@bristarealty.com – 941-812-4894

This data point is one year of activity. Data is from July 8, 2022. Data for the Longboat Key real estate market is obtained © My Florida Regional MLS Inc. DBA Stellar MLS and deemed reliable but not guaranteed.

Number of Active Listings

Gina Ursini – Brista Realty LLC – gina@bristarealty.com – 941-812-4894

Browse Longboat Key’s newest listings

Months Supply of Inventory

Gina Ursini – Brista Realty LLC – gina@bristarealty.com – 941-812-4894

The months’ supply of inventory refers to the number of months it will take to deplete all the current inventory on the Longboat Key market.

To calculate the month’s supply of inventory, you divide the number of active listings by the number of homes pending and sold within a time period.

For example, if there were 100 active listings in the month of January and 10 homes are either pending or sold in January, then there is a 10 months supply of inventory.

The month’s supply of inventory will help determine if it is a buyer or a seller market.

6 months of inventory is a balanced market. Longboat Key, as you can see by the chart below, continues to be a seller’s market.