Longboat Key, FL
Sleepy Lagoon
A north-end neighborhood that runs from bayside canals all the way to the Gulf beach, with everything from custom waterfront estates to old-Florida cottages. Many homes have private docks; some Gulf-side homes simply have the beach out back. The county roll assesses 229 units across 5 plats, built 1950 to 2023, in Manatee County.
Price Range
Est. $900s to $15M
Home Types
Single-family (waterfront)
Total Homes
229 units
Amenity Level
Low
Amenities & lifestyle
- Bayside canals with private docks
- Gulf-side beachfront homes
Michael’s Take
County roll: 229 units, built 1950 to 2023, assessed in Manatee County. Recorded across 5 separate plats, so confirm which one a listing sits in. No CDD; Longboat Key carries none.
How Sleepy Lagoon compares
From the county records
$1,985,000
Median of 34 recorded sales since October 2023, the middle eighty percent between $950,000 and $8,000,000.
47%
Of the 233 finished houses here carry a homestead exemption, which reads as a mix of full-time and seasonal owners.
Newest building completed 2025. The roll records no completions here in the last three years, so this is a built-out community rather than one still being delivered.
Arm’s-length sales recorded with Manatee County, read October 2026. Quitclaims, foreclosures, family transfers and pre-construction sales are excluded. Homestead requires the property to be a permanent residence, so the share carrying one is a strong proxy for how many owners live here full time, not a census of them.
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Sleepy Lagoon FAQ
How much do homes in Sleepy Lagoon cost?+
Homes in Sleepy Lagoon are generally priced in the Est. $900s to $15M range. Pricing moves with the market and varies by floor plan, lot, and incentives, so reach out for the most current numbers.
What kind of homes are in Sleepy Lagoon?+
Sleepy Lagoon offers single-family (waterfront). As single-family housing, the roof, the exterior and the insurance on the structure are yours rather than an association's, which is the main practical difference from a villa or condominium. What a specific home includes, and what the association maintains, is set out in that community's documents and is worth reading before an offer rather than after.
What amenities does Sleepy Lagoon have?+
Sleepy Lagoon offers Bayside canals with private docks, Gulf-side beachfront homes. Worth separating two things that often get blurred together: amenities the HOA maintains and which every owner pays for, and club or golf facilities that may require a separate membership on top. Which category each amenity falls into determines your actual annual cost, and it is set out in the community documents rather than in any listing.
What have homes in Sleepy Lagoon actually sold for?+
34 arm's-length sales have been recorded in Sleepy Lagoon since October 2023, at a median of $1,985,000. The middle eighty percent of those sales fell between $950,000 and $8,000,000, which is a better guide to the range than the extremes. These are prices recorded with Manatee County, not asking prices, so they describe what buyers and sellers actually agreed. Figures read October 2026; quitclaims, foreclosures and family transfers are excluded.
Do people live in Sleepy Lagoon year round?+
47% of the 233 finished homes in Sleepy Lagoon carry a homestead exemption, which Florida grants only on an owner's permanent residence. That reads as a mix of full-time and seasonal owners. It is a strong proxy rather than a census, since an owner who lives there but never filed does not appear in it, but it is the most direct public signal of how occupied a community is outside the winter.
Is Sleepy Lagoon still being built?+
The most recent home the county records in Sleepy Lagoon was completed in 2025, across 270 platted parcels of which 233 carry a finished home. The county records no completions here in the last three years, so Sleepy Lagoon is built out and what trades is resale rather than new construction. Build year matters more in Florida than buyers expect, because insurers weight roof age heavily and it drives what a property costs to carry rather than just what it costs to buy.