As we move into 2025, the real estate market continues to evolve in response to changing economic conditions, technological advancements, and buyer preferences. Longboat Key, FL, a jewel on Florida's Gulf Coast, remains a hotbed of activity, drawing interest from those seeking luxury homes, investment properties, and idyllic coastal living. Here, we explore the most Googled questions about real estate in 2024 and offer insights into what’s ahead for Longboat Key's real estate market.

The housing market in 2024 saw significant shifts influenced by fluctuating mortgage rates, changing inventory levels, and increased demand for specific property types. Nationally, housing affordability remained a central topic, with many buyers gravitating toward regions offering a mix of value and lifestyle perks.

In Longboat Key, the demand for waterfront properties continued to surge. Buyers prioritized homes with private beach access, high-end finishes, and smart home technology. Condominiums along Gulf of Mexico Drive also saw robust activity, appealing to retirees and second-home buyers alike. Looking ahead to 2025, experts predict a steady appreciation in home values, albeit at a slower pace compared to the rapid increases of previous years.

What to Expect in 2025:

• Inventory is likely to remain tight, especially for luxury properties.
• Increased focus on sustainable and eco-friendly home designs.
• Growing interest from international buyers, particularly from Canada and Europe.

As of 2024, the median home price in Longboat Key hovered around $1.2 million, with prices varying significantly depending on location, size, and amenities. Single-family homes with direct waterfront access commanded premiums, often exceeding $5 million.

For condominiums, prices ranged from $600,000 for smaller units in older buildings to over $3 million for penthouses in newer, amenity-rich developments. These figures underscore Longboat Key’s reputation as an upscale market catering to discerning buyers.

Pro Tip for 2025 Buyers: With mortgage rates fluctuating, cash buyers will continue to have an edge. For financed buyers, pre-approval is more critical than ever, especially in competitive price brackets.

Investing in real estate remains one of the most effective ways to build wealth, and Longboat Key offers unique opportunities for both short-term and long-term investors. In 2024, rental properties became increasingly attractive due to high demand for seasonal and vacation rentals. Short-term rental platforms like Airbnb and VRBO reported strong bookings in Longboat Key, driven by tourists seeking an upscale yet tranquil Gulf Coast experience. As a result, properties with rental licenses delivered substantial returns for their owners.

2025 Investment Tip: The town of Longboat Key has specific regulations for vacation rentals, so partnering with a knowledgeable local agent like Shellie Young is essential to navigate these rules and find properties with high ROI potential.

Longboat Key is a narrow barrier island, but its various neighborhoods offer distinct vibes and amenities. Here are some standout areas:

• Country Club Shores: Known for its deep-water canals and proximity to St. Armands Circle, this neighborhood attracts boating enthusiasts.
• Bay Isles: A gated community offering luxury homes and access to the Longboat Key Club’s amenities.
• The Beaches: High-rise condominiums with stunning Gulf views, ideal for those seeking maintenance-free living.

With Longboat Key’s competitive market, choosing the right real estate agent is critical. A great agent understands local market dynamics, has a strong network, and prioritizes your goals.

Why Work with Shellie Young?

• Decades of experience in the Longboat Key market.
• Deep knowledge of luxury properties and waterfront homes.
• A personalized approach to matching buyers and sellers.

Visit ShellieYoung.com to learn more about her expertise and services.

Longboat Key is prized for its serene ambiance, world-class amenities, and natural beauty. Residents enjoy a mix of laid-back island living and sophisticated perks, including:

• Access to pristine beaches and golf courses.
• Fine dining and boutique shopping at St. Armands Circle.
• A strong sense of community with year-round cultural and social events.

For retirees, Longboat Key offers excellent healthcare facilities nearby, and for families, it’s a welcoming environment. Looking into 2025, the town’s commitment to preserving its natural beauty and enhancing infrastructure ensures that Longboat Key will remain a sought-after destination.

Mortgage rates in 2024 experienced fluctuations, creating challenges and opportunities for buyers. While higher rates impacted affordability, they also stabilized the market, reducing competition.

2025 Tips for Buyers:

• Consider adjustable-rate mortgages (ARMs) for lower initial rates.
• Lock in rates as soon as possible to avoid further increases.
• Work with an experienced agent like Shellie Young to identify motivated sellers and negotiate favorable terms.

Development on Longboat Key is limited due to its size and focus on preserving its natural environment. However, 2024 saw the completion of several boutique condominium projects, with more planned for 2025.

Notable Trends:

• Developers are prioritizing sustainability, with energy-efficient designs and green building certifications.
• Luxury amenities, such as private pools, concierge services, and rooftop terraces, remain a hallmark of new projects.

Property taxes in Longboat Key are slightly above the state average due to the high value of homes. For 2024, the average effective property tax rate was approximately 0.98%, translating to $9,800 annually for a $1 million home. Homestead exemptions can help primary residents reduce their tax burden.

2025 Outlook: With rising home values, tax assessments may increase. Consulting with a local expert like Shellie Young ensures you’re aware of any changes and how they impact your investment.

In 2024, the biggest challenges for buyers included limited inventory and navigating competitive bidding scenarios. For sellers, setting the right price was crucial, as overpricing led to longer days on the market.

2025 Insights:

• Buyers should act quickly when they find a desirable property, as demand will remain strong.
• Sellers will benefit from staging their homes to highlight unique features and attract higher offers.

Whether you’re considering buying, selling, or investing in Longboat Key, staying informed about market trends is essential. The island’s real estate market offers immense opportunities for those seeking luxury, lifestyle, and investment returns.

With her in-depth market knowledge, proven track record, and dedication to client satisfaction, Shellie Young is your trusted partner for all your real estate needs in Longboat Key. Contact Shellie today to start your journey toward owning or selling a piece of paradise.