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Sarasota real estate market overview
- Average Monthly Rent: $1,922
- Home Price/Value Percentage Change: 19.9%
- Median Home Value: $475,000
- Best Time To Sell a Home: March
- Affordability Index: 88
- Days To Sell a House: 50
- Job Market: Fair
- Public School Ranking: 18
Location and weather
Sarasota sits on Florida's Gulf Coast, just south of the Tampa Bay area. There are 35 miles' worth of white sand beaches here, and six keys that border the coastline. These include Longboat, Lido, Siesta, Casey, and Manasota Key, as well as Venice Beach. Sarasota was named one of the best places to live for retirees by the US News and World Report, as well as the second best place to live for all ages in the Sunshine State.
Warm weather is year-round in this city, and it's described to be a more comfortable place to live due to its temperate climate.
Population, job market and cost of living
Sarasota's population is 59,902, with a growth rate of 0.91% annually.
The job market has increased by 2.6% over the last year. In ten years, job growth is predicted to be 44.6%. Sarasota was named the best small city in the nation by Money Magazine, as well as the 44th best city in the US to live and do business in out of 150 other cities. The medical industry is the forefront of the economy here, along with food retail and law enforcement.
Sarasota is no more expensive than the average cost of living amongst Floridian cities. Although, it is more expensive in comparison to the national average cost of living.
Sarasota real estate market details
- Downtown Sarasota
- Laurel Park
- Fruitville
- North Port
- Venice
- Longboat Key
- Bradenton
The average monthly rent is $1,922 for an average apartment size of 949 sq. feet.
There has been a 19.9% increase in Sarasota's median home value over the last year. As of 2022, the median home value is $475,000.
On average, homes in Sarasota sell after 50 days on the market.
Selling a home during the month of March can provide homeowners with the most profit. Selling during the month of May can provide homeowners with the quickest sale.
The affordability index in Sarasota is 88. This number indicates decreased affordability in this city.
The top ranked public schools are Pine View School, Ashton Elementary School, Southside Elementary School, Suncoast Polytechnical High School, and Phillippi Shore Elementary School. This information is dependent on the school's combined math and reading proficiency data in testing.