Sarasota Luxury Market Performance
Luxury Home Sales Trends
Sarasota's luxury market ($1M+) has seen a 12% increase in closed sales year-over-year, with waterfront properties commanding premium prices. The average sale price for luxury single-family homes reached $2.3M in Q2 2023.
Neighborhood Highlights
Bird Key properties sold for an average of 98% of asking price, while Siesta Key beachfront condos saw record prices at $1,250/sqft. Lakewood Ranch continues to attract buyers with its master-planned amenities.
Seller Advantages
Properly priced luxury homes in Sarasota are selling in just 28 days on average. Our professional staging and marketing strategies have helped clients achieve 6-12% above market value.
Sarasota Luxury Market Comparison (Last 12 Months)
| Neighborhood | Avg. Sale Price | Price/SqFt | Days on Market | List-to-Sale |
|---|---|---|---|---|
| Bird Key | $2.45M | $875 | 37 | 97.2% |
| Siesta Key | $1.85M | $1,025 | 45 | 96.8% |
| Lido Key | $2.15M | $950 | 42 | 97.5% |
| Lakewood Ranch | $1.35M | $325 | 28 | 98.1% |
| Longboat Key | $2.75M | $1,150 | 51 | 96.3% |
Seller Success Stories
Robert & Susan Thompson
Sold for $2.65M in Bird Key
" We were amazed when our Bird Key home sold in just two weeks for above asking price. The Pettingell team's marketing strategy brought multiple offers and created a competitive bidding situation.
Maria Gonzalez
Sold for $1.125M in Siesta Key
" As an out-of-state owner, I needed a team I could trust. Pettingell handled everything professionally and got me top dollar for my condo. The professional photography and virtual tour made all the difference.
James Wilson
Sold for $1.875M in Lakewood Ranch
" The market analysis and pricing strategy were spot on. We had multiple offers within a week and closed above asking. The entire process was seamless from start to finish.
What's Your Home Worth?
Get a complimentary market analysis and find out how much your Sarasota property could sell for in today's market.