Neighborhood · Sarasota, Florida
Island Reef
Waterfront living on Sarasota's coastal edge
5
Homes for sale
$595,000
Median list price
$492
Avg price / sqft
212
Median days on market
Island Reef is a small, water-oriented pocket of Sarasota where the appeal is right in the name — every active listing here sits on the water, and pools are the norm rather than the exception. It's the kind of tight-knit enclave that draws buyers who want easy access to the coast and the wider rhythm of Sarasota without giving up a quiet residential feel. Nearby you'll find the barrier-island beaches of Lido Key, the arts-and-dining energy of the Rosemary District, and the leafy character of Indian Beach / Sapphire Shores.
For a buyer today, this is a thin, slow-moving market — just five homes are active, and the median listing has sat 212 days, which means there's room to negotiate. Prices run from $500,000 up to $1.3 million, with a median list of $595,000 and sellers over the past year collecting about 95% of asking. If you want waterfront in Sarasota and you're patient, Island Reef rewards a careful, unhurried search.
Island Reef is a community in Sarasota, Florida.
Quick facts
$500,000 – $1.3M price range
1,303 sqft median home
$1,033/mo median HOA
$3,750/mo median rent
8 sold in 12 months
On the market now
Homes for sale in Island Reef
$500,000
8773 MIDNIGHT PASS ROAD UNIT 302G, SARASOTA
2 bd · 2 ba · 1,303 sqft
$1,300,000$1,500,000
8764 MIDNIGHT PASS ROAD UNIT A306, SARASOTA
2 bd · 2 ba · 1,883 sqft
$735,000
8779 MIDNIGHT PASS ROAD UNIT 502H, SARASOTA
2 bd · 2 ba · 1,303 sqft
$550,000
8773 MIDNIGHT PASS ROAD UNIT 102G, SARASOTA
2 bd · 2 ba · 1,303 sqft
$595,000
8779 MIDNIGHT PASS ROAD UNIT 401H, SARASOTA
2 bd · 2 ba · 1,485 sqft
Every active listing inside the Island Reef boundary
Open full map search →Find your fit
Browse Island Reef
By feature — on the live map
Where the market lives
The numbers that matter
The Island Reef market
8
Sold, last 12 months
$572,500
Median sold price
95%
Sale-to-list ratio
What sellers actually get vs asking
96 days
Median time to sell
Island Reef vs Sarasota
Median list price
Price per sqft
Days on market
Median sold price — 3-yr, 3-mo rolling
▲ 20.6% yr/yr
Homes sold per month
Live Stellar MLS data — every listing and closed sale inside the Island Reef boundary. Rolling medians smooth single-month swings in small communities.
For the school run
Schools Island Reef is zoned for
Attendance boundaries overlapping this community — always verify zoning with the district.
What it really costs
Owning here
Owning the median Island Reef home
≈ $4,792/mo
$595,000 median · 20% down · 30-yr fixed at 6.9% · taxes/HOA from live listing data · insurance is a Florida estimate.
$1,033/mo
Median HOA
From current listings inside the boundary
$3,750/mo
Median rent
Homes for rent inside the boundary
Population
567
Median age
69
Median income
$113,375
Median home value
$654,800
Beyond the listings
Living in Island Reef
Culture
Top 8% in the U.S.Sites to See
This population finds the most beautiful sites just by looking up. Sunrise, sunset or sometime in between, these people love to marvel at man-made and natural wonders.
Hobbies & Interests
Top 10% in the U.S.Wanderlust
Always thinking about their next destination, this population loves exploring new places abroad or right in their own backyard. They hold onto past trips by sharing their favorite memories and pictures year round.
Beliefs
Top 14% in the U.S.Mindfulness & Spirituality
Seeking peace and well-being through meditation, gratitude and spirituality.
Beliefs
Top 16% in the U.S.Conservation
Good stewards of the earth, this population advocates for a cleaner environment and responsible use of resources. They often encourage others to recycle and use clean energy.
Hobbies & Interests
Top 16% in the U.S.Natural Beauty
This population marvels at the beauty of nature, and they want to capture every breath-taking scene.
Beliefs
Top 18% in the U.S.Local Engagement
These citizens want to make their neighborhood a better, more beautiful place to live. They're attentive to the needs and affairs of the local community.
On the calendar
Near Island Reef
Jul
13
Mon
Robert Louis Stevenson: A Child’s Garden of Verses
10:00am
This exhibition celebrates childhood and the imagination of youth through the words and images of A Child's Garden of Verses, a beloved children's poetry book by the reno…
Jul
13
Mon
Venice Doll Club and FX Toy Shows
The FX Toy Show, once hailed as the Super Bowl of collectible toy shows, was the largest of its kind in the Southeastern United States from 1990 to 2006. Now, it's making…
Jul
13
Mon
ReptiDay
The event strictly adheres to the recent Florida law changes, disallowing the display of pet Iguanas and Tegus, regardless of permit status. Attendees are encouraged to v…
Jul
13
Mon
Penumbra
In a new solo exhibition, Maria A. Guzmán Capron presents her vibrant figurative textiles that explore the complexities of identity, drawing from her own multicultural ex…
Jul
13
Mon
Something Borrowed, Something New
The event features a never-before-seen exhibition of works from acclaimed modern and contemporary artists like Louise Bourgeois, Chuck Close, David Hockney, Yoko Ono, Kar…
Jul
13
Mon
Beautiful Ideas: The Prints of Sol LeWitt
The event showcases the extensive print work of Sol LeWitt, a pioneer of minimalism and conceptual art, known for his large-scale wall drawings and modular structures. At…
Straight answers
Island Reef FAQs
Is Island Reef a good place to live?+
If you want to be on the water in Sarasota, it's hard to beat — all five active homes are waterfront and most include a pool. It's a small, quiet enclave close to Lido Key and assigned to Phillippi Shores Elementary, Brookside Middle, and Sarasota High. The scale is intimate, which suits buyers who want coastal access without a big-community feel.
Is Island Reef expensive?+
It sits in the mid-to-upper range for Sarasota, with a median list price of $595,000 and average pricing around $492 per square foot. Listings currently span $500,000 to $1.3 million, with just one home above the $1M mark. For genuine waterfront property, that pricing is competitive.
What do homes cost in Island Reef?+
The median list price is $595,000, and over the past 12 months eight homes sold at a median of $572,500. With a median size near 1,303 sqft, you're generally looking at compact waterfront homes rather than large estates. Sellers averaged about 95% of asking, so there's typically some negotiating room.
How is the market in Island Reef right now?+
It's slow and thin — only five homes are active and the median listing has been on the market 212 days. That extended timeline works in a buyer's favor, especially since sellers are averaging 95% of their asking price. Expect a patient search with fewer options but real leverage when you find the right home.
What about HOA fees and property taxes?+
The median HOA here runs about $1,033 per month, which reflects the waterfront setting and shared amenities. Median property taxes are around $4,969 per year. If you're weighing a rental instead, the median rent in the area is roughly $3,750 per month.
Keep exploring
More Sarasota neighborhoods
Neighborhood boundary by edgeAI; listings matched to the polygon. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Stellar MLS.
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