Hello Friends,

Heading into 2024, Sarasota’s real estate market stands at an important juncture, influenced by several key factors. Interest rate trends, demographic changes, and regional economic developments are expected to shape the market in various ways.

Last year, even though interest rates dramatically increased, real estate prices still went up and the housing demand in the area remained strong. As of November, inventory of active listings was at its highest for the year, approaching the level that was present leading up to the pandemic. There is a possibility that prices might start to stabilize and there could be a slight decrease in home prices as the market finds a balance between the number of available homes and buyer interest.

Even though Florida’s housing inventory is increasing, it’s still not happening fast enough to have a major impact on price or to keep up with the state’s crazy population influx. The latest census reports an average of 15 new residents move to Sarasota County PER DAY – and that census was done in 2020. How can we not agree that number has certainly increased.

In conclusion, we’ve looked at a lot of statistics and you probably have one important question on your mind: Should I buy or sell this year? Just remember, no matter outside influences, historically Sarasota real estate has proved to be an excellent investment.

Debbie McHardy

SARASOTA PRESIDENT 2024

FEATURED LISTINGS

MYAKKA RIVER TRAILS

430 N. River Road | Venice, FL 34293

4BR/3BA | 3,694 SF | $1,165,000

This stunning pool home boasts 4BR/3BA, a den, and a bonus room, offering spacious living. Step onto the expansive lanai and enjoy an infinity/negative edge pool that appears to merge seamlessly with your own private lake.

CONTACT ME FOR A PRIVATE SHOWING

GRAN PARADISO

20363 Reale Circle | Venice, FL 34293

4BR/3BA | 2,548 SF | $849,000

Pristine, impeccably maintained, and highly coveted Doral model residence on a corner lot. This maintenance free home offers a heated saltwater pool and spa, built-in grill, 3-car garage, and hurricane shutters.

CONTACT ME FOR A PRIVATE SHOWING

MARKET REPORT

New Listings are down 6% from the previous month but have increased by 18% when compared to last year.

Inventory increased by 9% from the previous month and is up 16% compared to last year.

The number of units sold decreased from the previous month by 8% but have increased by 6% year over year. Inventory increased by 16% for the same time frame.

Total Sales Volume decreased by 7% month over month but has increased by 14% year over year.

Average Days on Market were increased month over month and has increased since last year.

Sarasota County Introduces Tool for New Residents

According to the U.S. Census Bureau, Sarasota county adds an average of 35 new residents each day. To assist newcomers in settling into Sarasota County, UF/IFAS Extension now offers a new tool to help ease that transition: the Sarasota County Starter Kit. The kit includes free classes and other tools to serve as a guide to living on the Suncoast, equipping both newcomers and longtime residents alike with essential information from saving on utilities to coexisting with local wildlife. Starter Kit classes begin Jan. 17, with new offerings available every two weeks. Classes are free, open to the public and offered online.

Florida Highwaymen Exhibit at Sarasota City Hall

Sarasota City Hall will host a collection of Florida Highwaymen paintings on exhibit beginning Monday, Jan. 8, in the atrium. the exhibit is free and open to the public during City Hall hours, 8 a.m. to 5 p.m. Monday through Friday. The exhibit runs to June, 2024.

Architecture Sarasota Launches New Program

Architecture Sarasota is launching ‘Downtown Sarasota: Hindsight, Insight and Foresight,’ a four-part speaker series conceived to spark an informed and constructive communitywide discussion about downtown’s future. Beginning on Jan. 24 at Art Ovation Hotel, the series will explore downtown Sarasota’s evolution over the last two decades with four distinguished speakers – Andrés Duany, David Houle, Mitchell Silver, and Victor Dover. Topics will include the current downtown master plan and how it was shaped two decades ago; how downtown has developed since then; the macro-level forces affecting the city; effective current downtown planning practices; and insights drawn from successful urban planning in other locales. The first lecture on Jan. 24 will feature Duany, founding principal of DPZ CoDesign, the principal consultants responsible for the current downtown master plan. Tickets for the series are $35 or $10 per lecture and can be purchased here. For information, call 352-219-4122. Art Ovation Hotel is located at 1255 N. Palm Ave., Sarasota.

SRQ Airport Surpasses 4.3 Million Passengers

Sarasota-Bradenton International Airport officials have released 2023 year-end passenger traffic data, and, unsurprisingly to anyone who has flown in and out of SRQ, it’s been busy.

The airport, according to a statement, had 4.3 million passengers in 2023. That’s up 12% over 2022, when it had 3.87 million passengers. In December, the airport, known locally by its SRQ call letters, had 406,113 passengers. That’s up 7.5% over December, 2022, when it had 377,775 passengers. The airport is undertaking several ongoing projects, including constructing a new concourse with five additional aircraft gates, expanding the ground transportation area and adding new food and beverage concessions.

JANUARY TO DO LIST

January 6 – 21

 Rainforest Masks of Costa Rica exhibition will return to Marie Selby Botanical Gardens’ Downtown Sarasota.

January 17

Marie Selby Botanical Gardens presents  “Performances at the Point” outdoor evening concert series at the Historic Spanish Point campus.

January 19 – 21

St. Armands International Food Truck & Music Festival at Ken Thompson Park From local favorites to international delicacies, the food trucks will offer something for everyone.

January 21 – April 14,

Sarasota’s Bayfront Park presents  Embracing Our Differences’, larger-than-life canvases integrating powerful imagery and thought-provoking messages.

January 26 – 28

 8th Annual Sarasota Seafood and Music Festival featuring family entertainment. JD Hamel Park, Sarasota

January 26

 Moon Over Myakka

 Fundraising Concert at the South Pavilion with The Firewater Tent Revival. Myakka River State Park, 13208 State Road 72, Sarasota.