Sarasota Real Estate Market & Luxury Condos in 2025

Sarasota Real Estate Market and Luxury Condos: 2025 Outlook

The Sarasota real estate market continues to evolve with strong demand for properties that are priced to market. While there is 14 months of inventory in the zip code (34236) there is a limited amount of inventory when it comes to new condos, this is where the Buyer demand is. Sarasota’s downtown skyline is rising with sophisticated residential towers, while key barrier islands like Lido Key and Longboat Key remain top choices for second-home buyers and retirees seeking resort-style living. Whether you're an investor, a future resident, or a luxury homebuyer, Sarasota offers a unique combination of coastal elegance, cultural richness, and development momentum unlike anywhere else in Florida.

Downtown Sarasota: A Hub of Luxury Condo Development

Downtown Sarasota remains the epicenter of high-end condo development. In recent years, buildings like BAYSO Sarasota, The Ritz-Carlton Residences, and One Park have transformed the Quay District into a modern residential and retail hub. These new developments emphasize walkability, stunning views of Sarasota Bay, and exclusive access to luxury amenities such as rooftop pools, fitness centers, and private club lounges.

Buyers continue to favor Downtown Sarasota for its proximity to restaurants, art galleries, performing arts venues, and waterfront parks. The blend of urban sophistication and coastal scenery is attracting both full-time residents and seasonal homeowners looking for a convenient, maintenance-free lifestyle.

In recent years, completion of buildings like BAYSO Sarasota, The Ritz-Carlton Residences, Sarasota and construction of One Park are beginning to transform the Quay. District into what the modern and upscale residential and retail hub of Sarasota.

Lido Key and Longboat Key: Timeless Luxury on the Water

While downtown brings modern conveniences, Lido Key and Longboat Key offer timeless beachfront appeal. Homes and condos in these areas enjoy direct access to the Gulf of Mexico, private beaches, and an unmatched sense of serenity. Developments like Rosewood Residences Lido Key, Aria Longboat Key, Sage Longboat Key, and The St. Regis Longboat Key cater to discerning buyers who value space, privacy, and ultra-luxury finishes. However, demand on the barrier islands is increasingly focused on new construction; older condominiums with dated layouts and aging infrastructure are seeing diminished interest. Today’s buyers are prioritizing modern floorplans, higher ceilings, energy efficiency, and superior build quality—hallmark’s of the new boutique, mid-rise and luxury towers. Demand remains strong in these waterfront enclaves, particularly among cash buyers and those relocating from the Northeast or West Coast. High construction standards, protected coastal views, and limited new inventory continue to support rising values year after year.

Quay Sarasota: The City’s Most Ambitious Mixed-Use District

At the heart of Sarasota's transformation lies Quay Sarasota, a 14-acre waterfront development bridging Downtown and Sarasota Bay. This master-planned community includes a mix of upscale condominiums, retail, dining, and public park space. Luxury and Ultra Luxury condo buildings like BAYSO, The Ritz-Carlton Residences are just the beginning of what will become Sarasota’s most dynamic residential address.

BAYSO Sarasota, in particular, has garnered attention for its blend of design, location, and pricing. With 149 residences, BAYSO offers a more accessible entry point into the luxury condo market compared to some ultra-premium towers while still delivering an upscale an attentive experience.

Sarasota Real Estate Market Trends in 2025

How Sarasota Compares to Other Florida Luxury Markets

Compared to Miami, Naples, or Palm Beach, Sarasota offers exceptional value for waterfront luxury buyers. The cost per square foot remains lower, yet the level of construction quality, design innovation, and lifestyle access rivals those more crowded coastal markets. Sarasota’s cultural institutions—the Van Wezel, Ringling Museum, Opera, and Ballet—give it a year-round appeal that few other Gulf Coast cities can match.

Moreover, Sarasota’s international airport (SRQ) offers convenient access for second-home buyers flying in from across the U.S. and Canada. With luxury development booming but still controlled by local regulations and a small-town ethos, Sarasota strikes the perfect balance between growth and preservation.

What’s Next for Sarasota’s Condo Market?

Future phases of Quay Sarasota, along with additional developments on Golden Gate Point and Palm Avenue, signal that Sarasota will continue to solidify its position as one of Florida’s premier luxury condo markets. However, with construction costs remaining high and coastal permitting becoming increasingly complex, new inventory is being delivered more selectively. What is emerging offers exceptional variety—from boutique residences to mid-rise enclaves and soaring waterfront towers—designed to meet the evolving preferences of today’s discerning buyers.

Buyers looking to secure a place in Sarasota’s most sought-after buildings should act with purpose. The most desirable units—those offering unobstructed bay views, high-floor positioning, and open-concept layouts—tend to command strong attention and move more quickly than their counterparts. This is driven by continued buyer demand for exceptional views and high-end finishes, especially in locations that blend walkability with waterfront access.

Partner with a Trusted Local Expert

Navigating Sarasota’s luxury condo market requires deep local expertise, access to off-market opportunities, and a sharp understanding of investment value. Whether you're interested in a new development in Quay Sarasota, a beachside retreat on Lido Key, or a custom condo in one of downtown's landmark towers, working with a seasoned professional is essential.

For personalized guidance on buying or selling luxury real estate in Sarasota, contact Lisa Otte, Sarasota’s top new construction specialist with Douglas Elliman. With over $200 million in development sales and deep market knowledge, Lisa ensures your real estate goals are not only met but exceeded.

Ready to make your move? Start exploring the best of Sarasota real estate today.

• Selective inventory pressures remain: While general condo inventory in 34236 is high, newer luxury resale units remain limited. Demand remains focused on modern buildings, with several new developments still in various stages of completion.
• Cash is king: With elevated interest rates, most luxury buyers continue to bypass financing entirely, often closing with all-cash offers for speed and leverage.
• Price trends are nuanced: While headline data may suggest pricing fluctuations, the reality is more complex. Overpriced listings may create the perception of declining values, but many sellers of newer condos are still realizing strong returns—just not always at the levels projected five years ago. Broad market data often lacks the granularity needed to assess actual value trends in luxury segments.