Are Prices Rising or Falling for Downtown Sarasota Luxury Condos?

SARASOTA, Fla. - Rezul -- Downtown Sarasota Luxury Condos priced at $500,000 or more recorded 18 closed sales in September 2026, up from 11 in September 2025 and 13 in September 2024, according to an analysis by Carole Samuels, Coastal Real Estate Advisor with REMAX Palm Realty, of her supplied Stellar MLS reports.

The September 2026 median sale price was $1.30 million, up 12.1% from $1.16 million a year earlier. Yet the median of individual sale prices per heated square foot fell 11.4%, from $734.39 to $650.52. The figures describe different groups of properties sold, not changes in the values of the same properties.

Five of the 18 September 2026 sales closed at $2 million or more; none of the 11 September 2025 sales reached that price. Two closings at 401 Quay Commons contributed $10.96 million, or 34.1%, of the month's $32.13 million in closed dollar volume.

"The useful question is not simply whether downtown prices are up or down. It is which properties changed hands, and how closely they resemble the condo a buyer or seller is evaluating," said Samuels.

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The three-year comparison adds perspective. September 2024 recorded 13 sales, $17.23 million in volume, an $805,000 median sale price and a $631.04 median price per heated square foot. September 2025 recorded 11 sales and $12.11 million in volume. Each monthly group is small, so individual transactions can materially affect the results.

For sellers, pricing should be tested against similar buildings, views, residence sizes, condition and ownership costs. For buyers, a lower median price per square foot is a reason to examine the details, not proof that every condominium has become cheaper. Association finances, reserves, inspections and known or planned assessments remain part of property-specific review.

At September 30, 2026, the supplied mapped selection contained 186 active listings, three pending listings and five pending listings accepting backups. These eight pending-family listings are a point-in-time count, not eight newly signed September contracts.

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Method: The analysis compares September 1-30 closings in 2024, 2025 and 2026 within Samuels' supplied mapped Downtown Sarasota Luxury Condos selection, using the same criteria each year, as confirmed by Samuels. The sold-price threshold is $500,000. Median price per heated square foot is calculated for each sale before taking the median. Source: supplied Stellar MLS reports and 2026 CSV, reviewed October 26, 2026; map and consistent criteria confirmed October 28. This is not a repeat-sales index, appraisal or forecast. Developer sales versus resales could not be verified.

More Information:  https://rem.ax/4iK6CB4

Carole Samuels is a Coastal Real Estate Advisor with REMAX Palm Realty, specializing in Downtown Sarasota Luxury Condos and Siesta Key Waterfront Homes. Licensed in real estate since 1996, she is the creator of The COAST™ Framework: Community, Opportunity, Architecture, Strategy and Transition.