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Longboat Key Tuesday, Aug. 15, 2017 2 years ago

Longboat's ZIP code is Florida's 11th priciest real estate market

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Nearby beach communities also land in state's top 20.
by: Eric Garwood Managing Editor

At least you don’t have to explain to family and friends the literal English translation of your Florida hometown is "Big Mouth."

And the odds of running into a Kardashian are acceptably low.

See, it’s not so bad being No. 11.

While off the million-dollar pace of such places as Boca Grande or Miami Beach, Longboat Key still showed up as No. 11 on PropertyShark’s recent list of most expensive ZIP codes, based on 2016 closed real estate sales.

“Really? I thought it’d be higher,’’ said Jean O’Hara, a visitor who chatted with friends while watching their children play recently at Bayfront Park. “It’s really lovely here. We love it. Maybe someday we can live here.’’

Property Shark, a national real estate blog, pegs the median sales price on Longboat Key at $672,500. Miami Beach topped the list at $3.4 million, with Lee County’s Boca Grande second.

Closer to home, Anna Maria Island was ranked No. 5, Siesta Key was ranked 18th and the ZIP code that encompasses Lido Key, Bird Key and St. Armands Key (along with a little of downtown Sarasota) was 19th. In case you're wondering, there are almost 1,500 ZIP codes in Florida.

The Hamptons on Long Island hit it big as the national No. 1, at $5.5 million.The median sales point is the spot at which half the properties sell for more and half for less.

Sherri Mills, a Realtor with Michael Saunders & Co. on Longboat Key, said the market for properties in Longboat’s median range is showing the strongest recovery from a sluggish first quarter.

The inventory for that $600,000-$799,000 range is about six months deep, she said. The inventory for lower- and higher-priced homes is three to four months deeper, which professionals call a buyer’s market.

Shoppers looking at Longboat Key’s middle of the market have a variety from which to choose, ranging from some beachfront condominiums to a selection of single family homes, some with canal access.

But there’s something else, something that Longboaters say you can’t get on Sanibel Island (No. 8) or Captiva Island (No. 9), Mills said.

“Other barrier islands are just that, islands among themselves,’’ she said. “What they have to offer residents and visitors besides the beach and outdoor activities is lacking.”

 

Like O'Hara, Roger Pettingell, who operates his own agency connected with Coldwell Banker Global Luxury on Longboat Key, also was surprised by the No. 11 ranking, figuring it would have been closer to the top. Still, he said, Longboat Key has been popular with buyers and visitors for a long time.

And, as a resident of Longboat Key, he's pretty sure he knows why.

"I've adopted the lifestyle I sell,'' he said. 

Pettingell, who has done business on Longboat for decades, says the community's staying power revolves around a few of its features. It's fairly self-sustaining, with golf, tennis, shopping and dining without driving over a causeway. The Longboat Key Club's two golf courses are a big draw, Pettingell said, a feature other Sarasota area barrier-island communities can't match.

Also, the island has a knack for staying modern.

"It's kept up with the what the market has wanted,'' he said.

 

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