Picture stepping off your private elevator into a 4,000-square-foot residence at the Ritz-Carlton Sarasota Bay, floor-to-ceiling windows framing the sunrise over the Gulf. Or imagine owning a penthouse at the new Waldorf Astoria tower, with Sarasota's entire downtown skyline at your feet. If you're considering high-rise luxury condo living in Sarasota—or simply curious about what these properties actually cost and how the market is performing—the current data tells a fascinating story.

As of late January 2026, downtown Sarasota's high-rise condo market (ZIP 34236) presents opportunities and challenges you won't find anywhere else in Florida. Here's what's actually selling, what's sitting, and what questions serious buyers should be asking before making a seven-figure commitment.

The Current Inventory: 121 Active Listings

Right now, there are 121 high-rise condo units actively listed for sale in downtown Sarasota, spanning a remarkable price range from $399,000 to just under $12 million. The median asking price sits at $1,999,000, with an average of $2.9 million—signaling that this truly is a luxury-focused market segment.

To give you context: Sarasota County's overall condo market shows a median price around $315,000. Downtown high-rises command 6-7 times that figure, and buyers are paying a premium for elevation, views, and full-service luxury living.

Where the Inventory Sits: Building-by-Building Breakdown

Not all high-rises are created equal, and current inventory patterns reveal which buildings are moving—and which aren't.

The Ritz-Carlton Residences Sarasota Bay dominates with 10 active listings averaging $7.3 million (plus 5 pending), representing the 2024-completed ultra-luxury tier at The Quay. Mira Mar (2028 completion) shows 4 active pre-construction units averaging $6 million—Seaward Development's ambitious historic preservation project.

At the $3-4 million level, The Tower Residences (5 active, $3.7M avg) and One Park Residences (4 active, $4.3M avg, 2027 completion) compete for buyer attention. Vue Sarasota Bay tells a more encouraging story: 5 active listings at $2.4M average but notably 6 sales in six months—proof that correctly-priced product moves.

For accessible downtown living, Renaissance 1 (built 2001) offers 7 active listings averaging just $573,000, and Alinari shows 6 active units at $882,000 average with healthy recent sales activity (2 closed, 3 pending).

Here's the crucial data point: while current listings show a $1.999M median asking price, recent closed sales averaged just $1.3M—a $700K gap suggesting significant negotiation leverage for informed buyers.

The New Construction Pipeline

While the MLS captures existing inventory, several major projects are reshaping downtown's skyline:

The Waldorf Astoria Residences at 1390 Main Street represents the most ambitious project: an 18-story tower with 86 private condominiums, over 50,000 square feet of amenities, and 42,000 square feet of Class A commercial space. Construction is anticipated to start in late 2026, with completion around 2029. When finished, it will reset expectations for luxury downtown living—and likely establish new price ceilings.

One Park Residences at 668 Quay Commons broke ground in October 2024 and is actively under construction with completion expected Q1-Q2 2027. The MLS already shows 4 active pre-construction listings averaging $4.3 million and 2 units pending, demonstrating strong buyer interest in this PMG/MoneyShow development. The 86-unit, 18-story tower at The Quay represents significant new luxury inventory hitting the market within 12-18 months.

The Edge Sarasota at 290 Cocoanut Avenue topped out in December 2025 and shows 3 active listings averaging $3.4 million with 2 pending sales. This boutique 27-unit, 10-story development by Jebco Ventures and ORE Development is on schedule for completion in Fall 2026 (Q3-Q4), representing near-term new inventory in the $3-3.5M range.

The question for buyers: pay a premium for new construction and wait months to a year, or negotiate on existing inventory with immediate occupancy?

What Market Absorption Rates Tell Us

With 121 active listings, 27 pending sales, and only 39 closed sales over six months, the absorption rate suggests roughly 6-7 months of inventory—squarely in buyer's market territory (balanced = 5-6 months).

Add the coming supply wave—hundreds of units in various stages of construction and approval—and the leverage clearly sits with buyers, particularly in the $1-3 million range where competition is densest.

Questions Serious Buyers Should Be Asking

Before committing to a high-rise purchase—whether pre-construction or existing inventory—here are the questions that separate informed buyers from disappointed ones:

Are you buying existing inventory or committing to new construction? Existing inventory offers immediate occupancy and the ability to actually see, touch, and experience the unit. Pre-construction means 2-4 year waits, but you get customization and that "new building smell." With 121 existing units available right now and negotiation leverage in buyers' hands, the value proposition of existing inventory deserves serious consideration.

Do you understand the true all-in costs? That $2 million list price is just the beginning. Factor in HOA fees ($800-$2,000+ monthly for luxury buildings), parking ($50,000-$150,000 for additional spaces), storage units, and the new Florida reserve requirements that are driving fees higher across all buildings built before 2025.

How do you value views versus proximity to amenities? Ritz-Carlton units at $7.3 million average offer unparalleled bay views and five-star services. But Alinari units averaging $882,000 put you steps from restaurants, shopping, and downtown's energy at a fraction of the cost. What matters more to your daily life?

Have you stress-tested the carrying costs? Can you comfortably handle $4,000-$6,000+ monthly in HOA fees, taxes, and insurance on top of your mortgage or cash investment? Florida's insurance market has gotten considerably more expensive, and high-rise units with Gulf exposure face premium pricing.

What's your exit strategy? The median sale price of $1.3 million (versus median asking price of $1.999 million) shows that when you eventually sell, buyer negotiations will be aggressive. Are you planning to hold long enough for the market to absorb current supply and appreciate?

The Bottom Line

Downtown Sarasota's high-rise market is experiencing a fascinating moment. You have 121 existing units to choose from right now, hundreds more in the construction pipeline, and a market where recent closed sales averaged $600,000 less than current asking prices—creating real negotiation opportunities for informed buyers.

The buildings selling successfully—Vue Sarasota Bay, Mark Sarasota, Bayso—share common traits: they're priced appropriately for current market conditions, offer strong amenities relative to HOA fees, and give buyers a clear value proposition. The buildings with concentrated inventory haven't yet found that equilibrium.

Whether you're drawn to ultra-luxury living at the Ritz-Carlton ($7.3 million average), boutique new construction at Mira Mar ($6 million average), established luxury at Vue ($2.4 million average), or accessible high-rise living at Renaissance 1 ($573,000 average), the key is understanding what you're actually buying beyond the square footage—and what it will cost you monthly to maintain it.

Ready to cut through the marketing and get real answers about downtown Sarasota's high-rise condo market? The Pope Team has access to every listing, all historical sales data, and detailed HOA financial documents that reveal the true cost of ownership. We can show you which buildings are negotiating—and which are holding firm. We'll walk you through comparable sales, help you stress-test carrying costs, and make sure you understand exactly what you're committing to before you sign.

Whether you're looking at existing inventory or considering a pre-construction contract, you deserve a team that puts your financial interests first. Contact us today—let's find your perfect high-rise residence with your eyes wide open.

See all condos currently for sale in downtown Sarasota. 

Market data current as of late January 2026, reflecting MLS listings and transactions in ZIP code 34236. Building inventory and pricing subject to change. All buyer decisions should include independent review of HOA financials, building reserves, and insurance requirements.