Fairway Bay
Homes for Sale in Longboat Key, FL

Fairway Bay market snapshot (as of August 2, 2026): the median sale price is about $560K ($399 per sq ft over the trailing 12 months of closed sales), and a median 125 days on market for closed sales. The trailing-12-month median is down 24% from the prior 12 months and up 46% since 2012, computed from record-level Stellar MLS closed sales (10 closings in the current window).

In ZIP 34228 (Longboat Key), 103 homes closed in the last 12 months at a median of $878K ($399/sq ft), up 2.4% year over year, with a median 94 days on market. See the live ZIP 34228 housing market and the Sarasota County market.

Fairway Bay is a community of 27 homes in Longboat Key, Sarasota County, built between 1985 and 1985 (median 1985), with a median living area of about 1,868 square feet. 37% of parcels are homesteaded, the owner-occupancy proxy in the Florida DOR assessment roll (2025 roll, public records).

Fairway Bay is a compact, uniform 1985-vintage community on Longboat Key where value is a condition story, not a square-footage one. With nothing currently listed and long days on market behind recent sales, it rewards buyers who can wait for the right unit.

• Sarasota County Public Schools (verify by address) · Public
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• Magnet and choice options may apply · Choice

Zoned schools reflect the assignments reported on recent Fairway Bay listings and can change; always confirm with Sarasota County Public Schools for a specific address.

Buying with schools in mind? We can confirm the exact zoned schools for any Fairway Bay address.

Because every home here was built in 1985 and the median footprint is about 1,868 square feet, the usual shortcuts for judging value don't apply. You're not comparing new to old or large to small so much as updated to original. That makes individual inspection and a close read of each unit's renovation history the heart of any offer here. The $398.75 median price per foot is a starting reference point, not a rule - a gut-renovated unit and a largely original one can both exist at this address and shouldn't trade at the same number.

The market data underscores caution. A median of 125 days on market and a heat score of 23 point to deliberate, unhurried transactions, and the median is down 23.7% year over year. Longer term the picture is steadier - the median is up 46% since 2012 - but recent momentum is clearly downward. A homestead share of 37% suggests a meaningful portion of these homes are not primary residences, which is common on a barrier island and worth factoring into expectations about turnover and carrying costs.

With no active listings and a thin, uniform inventory, the value in Fairway Bay comes from knowing which units have been updated and when they're likely to come available. We track this community closely, read condition against the $560,000 median realistically, and advise on pricing in a market that's down 23.7% year over year - telling you plainly when a number is aspirational rather than achievable.