Wednesday, May 28, 2008

Sarasota Real Estate - Longboat Key Facts And Figures

The gentle, well-developed mid-sized city of Sarasota lies in Southwestern Florida, in Sarasota County. Sarasota County consists of Sarasota, Venice, Englewood and North Port and includes the lovely barrier islands of Longboat Key, Lido Key, Siesta Key, Casey Key and Manasota Key.

The city offers a wonderful vacation atmosphere, with an unequaled lifestyle that features all the best of elegant and classy living. Its close proximity to pristine white crystal sand beaches, the wide array of water sports and outdoor activities, golf and tennis facilities, world-class restaurants, cafes and food shops, as well as interesting arts and culture venues, makes the city and its environs a wonderful destination for everyone.

What's In Store For Longboat Key's Residents & Visitors

Longboat Key's well-maintained and classy beach resorts, private residences and condominiums are renowned for offering upscale tennis, golf and dining facilities. This key is famous for affording residents and visitors a truly luxurious, carefree living experience. This area gets an average of 65 inches of rain per year, and the number of days with any measurable precipitation is 111.

According to estimates, on average, there are 244 sunny days per year in Longboat Key. The July high is around 91 degrees, and the January lows are 51. The comfort index, which is based on humidity during the hot months, is a 27 out of 100, where higher is more comfortable.

Population And Economic Data

Renowned for its pristine, white sand beaches and lush tropical surroundings, Longboat Key has a population of nearly 7,700 full-time residents and 15,000 seasonal residents. Nearly eleven miles long and only a few hundred feet wide in places, this area offers an intimate setting for those who prefer living in quaint, relaxed environments. Since 2000, it has had a population growth of -2.53 percent. Compared to the rest of the US, this area's cost of living index is 107.17%, which is much higher than the national average.

Longboat Key's public school system spends around $5,348 per student, while the average school expenditure for the whole US is $6,058. There are about 23 students per teacher in this key. The unemployment rate here is 3.00 percent, while the U.S. average is 4.60%. Recent job growth is Positive, and local jobs have risen by around 2.15 percent. The income per capita is $88,024, which includes all adults and children, and the median household income is pegged at $97,189.

Housing Market Outlook

Much of the residential land in this key is either occupied by single family homes or condominium developments and apartments, and majority of the condo associations here co-own common amenities like swimming pools, tennis courts, sites with water views and access to beaches. This famous key is also home to the Longboat Key Club, which is owned and developed by aluminum tycoon Arthur Vining Davis' Arvida Corp, and is open to both tourists and club members, and also has amenities like indoor and outdoor restaurants and cafes, recreational facilities and also offers easy access to a nearby gulf-side beach.

According to real estate analysts, almost the entire land area of this key is now occupied, while the remaining older, single-owned homes are as much as 45 years old. Currently, the median prices for single bedroom homes here are pegged at $232,500. 2-bedroom units start at $518,471, while 4-bedroom homes s go for $1, 364,450. Housing industry observers note that home appreciation for Longboat Key in the last year has been at 6.61 percent. - Longboat Key Home

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