Where Most Buyers Are Actually Buying
For buyers searching for a new condominium under $2 million in downtown Sarasota, the challenge today isn’t demand—it’s availability. Most buyers are shopping at this price point, yet very few newly built residences exist in this range. The information below provides helpful context on why this disconnect exists and why opportunities like The Gallery Sarasota are increasingly rare.
Today’s downtown Sarasota condominium market is defined by a growing disconnect between buyer demand and new construction availability.
In 2025, 76% of all condominium purchases in downtown Sarasota closed below $2 million, reflecting where the bulk of buyer activity occurs. However, most homes offered at these levels are in older buildings, with an average age of approximately 30 years.
At the same time, new construction options remain scarce. According to current MLS data, only 24% of newly built condominiums on the market in downtown Sarasota are priced under $2 million. Rising land values, restrictive density allowances, and significantly higher construction costs have made it increasingly difficult—and in many cases impractical—for developers to deliver new residences at the price points where buyers are most active.
Where The Gallery Sarasota Stands Apart
This is precisely where The Gallery Sarasota offers exceptional and difficult-to-replicate value.
Its ability to offer new construction within this range reflects a specific set of circumstances, including land acquisition and city approvals secured during a brief period when higher downtown density was permitted under different regulatory conditions. As a result, similar cost structures have become difficult for developers to achieve at the price levels where demand is strongest.
Accordingly, buyers have the opportunity to purchase true new construction aligned with prevailing demand, rather than choosing between aging inventory or residences that fail to meet their expectations—or their intended investment range.
Beyond the financial metrics, The Gallery Sarasota also benefits from a distinct lifestyle value proposition that aligns closely with current buyer preferences. These buyers are drawn to boutique-scale living rather than high-rise towers, value privacy, and seek a walkable, leave-the-car-behind lifestyle with close proximity to the bay, dining, and daily conveniences such as Whole Foods. Location above floodplain is also an increasingly important consideration for many buyers.
Learn More or Visit in Person
For buyers interested in learning more about The Gallery Sarasota and exploring current opportunities, additional information is available through the project’s sales team.
Sales Team – Coldwell Banker Realty | Sarasota Downtown
Listing Office: Coldwell Banker Realty of Sarasota Downtown
Listing Agents: Chad Fonder and Teresa Tyrrell
Direct: (941) 803-1197
Email:
Visit Us In Person
Preview Gallery: 625 S. Orange Avenue, Sarasota, FL 34236
Future Home: 1305 4th Street, Sarasota, FL 34236