Luxury Real Estate: A Market Like No Other
Sarasota’s real estate market is as diverse as it is luxurious. From sprawling waterfront estates on Bird Key to modern high-rise condos in downtown Sarasota, there’s a perfect property for every discerning buyer. The recent developments, such as the St. Regis on Longboat Key, have further elevated Sarasota’s status in the luxury real estate market, offering unparalleled amenities, legendary service, and breathtaking views.
The luxury real estate market in Sarasota has seen remarkable growth over the past few years, driven by increasing demand from both domestic and international buyers. According to the latest market reports, the average sale price for luxury homes in Sarasota increased by 15% year-over-year in 2023, reflecting the strong demand for high-end properties in this coveted area.
Location, Location, Location
Downtown Sarasota: The urban core of Sarasota has experienced a significant boom, with luxury condo developments setting new standards for urban living. Prices for luxury condos in downtown Sarasota have surged by 20% over the past two years, with some units selling for over $1,500 per square foot.
Lido Key and St. Armands Key: These barrier islands continue to attract affluent buyers seeking the perfect blend of privacy and proximity to Sarasota's amenities. Lido Key, in particular, has seen a 12% increase in luxury home prices, with beachfront properties being especially sought after. St. Armands Key remains a prime location, with luxury home prices rising by 10% in the past year.
Bird Key: Known for its exclusive waterfront estates, Bird Key has maintained its status as one of Sarasota's most prestigious neighborhoods. The average sale price for homes on Bird Key has climbed by 18% in the last year, with many homes featuring direct access to Sarasota Bay.
Longboat Key: Longboat Key continues to be a hotspot for luxury real estate, particularly with the development of the St. Regis. The average sale price for luxury homes on Longboat Key has increased by 14%, with new construction contributing to the island's appeal.
Siesta Key: Famous for its world-class beaches, Siesta Key has also seen impressive growth in its luxury real estate market. The average price for luxury homes on Siesta Key has risen by 16%, with waterfront properties leading the charge.
Investment in the Future
Sarasota isn’t just a place to live—it’s a place to invest. The city’s growth over the past few years has been impressive, with new developments, businesses, and infrastructure projects enhancing the area’s appeal. Whether you’re looking to buy a primary residence, a vacation home, or an investment property, Sarasota offers promising opportunities.
