Is Sarasota a cheap or expensive real estate market? I guess it depends on who you talk to. Someone coming from Manhattan might view this area as a bargain. Another buyer from Detroit, Michigan might view Sarasota as very expensive. It is all relative to what you are used to.

Sarasota vs. Vail

I am on vacation this in Vail with my family. Even though this is a vacation I am still observant when it comes to real estate. We are staying in the Lionshead area of Vail which is within walking distance to a gondola and a few chair lifts. It would be the equivalent of buying on the beach in Sarasota (Siesta Key, Longboat Key, Lido Key).

Our condo is in the Antlers condo community which is a nice 2 bedroom, 2 bathroom with roughly about 900 square feet.…

I just listed a remodeled 1 bedroom, 1.5 bathroom condo in the Lido Regency building on Lido Key. This is the perfect place for those looking to escape the cold northern winters or a small weekend getaway to get from the daily grind. You can dip your toes in the Gulf of Mexico within seconds of this lovely condo.

1700 Ben Franklin Drive #4F

Lido Key is a small barrier island off the coast of Sarasota, Florida. This luxurious yet relaxing island is a great place to call home or own a vacation property. The beach and waters of the Gulf of Mexico are gorgeous. Another great feature of owning on Lido Key is the quick and easy access to St. Armands Circle and downtown Sarasota where you can find a plethora of great restaurants, shopping and entertainment.

Lido Key is much smaller than Siesta Key and Longboat Key so there are fewer condo options. Below are four Lido Key condos where you can find a condo under $300,000.

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Lido Regency

This gulf front condo complex was built in 1968 and has 84 condominium units. Residences are close to south Lido Key public park, St. Armands Circle and…

New Sarasota Beach Condos

Everyone wants them. We get requests for them all of the time. People generally like newer built homes and condos because of the high ceilings, large windows, abundance of natural light, modern floor plans and. Unfortunately, there are not many of them to choose from and they are on the higher end of the price scale.

If you are looking for a newer condo on the beach in Sarasota you can use my Sarasota MLS search tool. Follow this link to view condos built after 2000 on Siesta Key, Lido Key and Longboat Key.

Visit Sarasota beach condos if you don't care when it was built.

"New" varies from person to person. One might find a 1998 condo as new while others must have the latest and greatest with something built within…

The Sarasota Florida real estate market continues to eat through its inventory. Notice the drop above from May 2011 of 5,604 listings for sale to 5,372 in June 2011. This gives Sarasota county 6.5 months of inventory based on closed sales and 6.3 months of inventory based on pending sales. The average sold price in June 2011 was $238,000 with the average sales price/list price ratio of 91%.

Average Price of Sarasota Homes & Condos

The above chart shows the average asking price as well as the average price of sold properties. Average prices are trending higher when comparing June 2010's average price of $217,000 to June 2011 price of $238,000.

Sarasota Real Estate Statistics

Below are the 5 largest residential real estate transactions in the month of June.

667 Mourning Dove Drive, Sarasota

This lovely Bird Key waterfront home is located at 667 Mourning Dove Drive. It offers 5 bedrooms, 5 bathrooms, 2 half bathrooms, 6,570 square feet and was built in 2009. The asking price was $5,990,000 and it sold for $4,950,000.

Below are all of the Sarasota and Manatee county property sales from May 15th to May 21st. I pulled this information from the Mid Florida MLS which is deemed to be reliable but is not guaranteed.

• 285 transactions
• Highest sales price - $4,450,000
• Lowest sales price - $15,000
• Average sales price - $265,274
• Median sales price - $160,000
• Average days to contract - 169
• Median days to contract - 94
• Average sales price/list price - 92.9%

Sarasota and Manatee County Property Sales - May 15th - May 21st

The condo in the center of the picture above is L' Elegance in Sarasota. This is a fabulous beach front condo on Lido Key. Many of the units in this building offer not only fabulous views to the west of the beach and Gulf of Mexico but also views to the east over Sarasota Bay, Bird Key, north Siesta Key and the downtown Sarasota skyline.

Some clients of mine just purchased unit #909. This was a 3 bedroom, 3 bathroom condo with 2,230 square feet. There are two balconies - one looking west and one looking east. The views are absolutely gorgeous. Access to the beach is easy as pie. It is footsteps out the back of the condo. This condo was listed for $1,199,000 and it closed Thursday for $1,067,500 (public record).

The picture below is a view from a…

Just Sold! Guess the Sales Price

It is important to know the market before you take the plunge and buy a home. Viewing what similar properties have recently sold for will help you get a better understanding of the market. Afterall, an appraisal is based on what three similar properties have recently sold for.

Take a look at the photos below. This home on Lido Key just sold in March. It had 3 bathrooms, 2.5 bathrooms and 2,371 square feet.

Property Description:

Welcome to your fabulous Sarasota Beach retreat. Located on famous Lido Key with St. Armand's Circle just a stroll away and the white sandy beaches of the Gulf of Mexico steps away. This sophisticated Beach home has been remodeled to fit your carefree lifestyle and allow you to relax and…

Who sells the most Sarasota real estate? Below is a pie chart from Trendgraphix.com showing market share for the lasdt 12 months based on sales volume for Sarasota county. I included any brokerage that had more than a 2% market share. Based on the last year only 5 firms had more than 2% of the market. Trendgraphix.com is 3rd party that tracks sales from the Mid-Florida MLS.

Sarasota County Real Estate Sales