Spring into St. Patrick’s Day with my Latest Property updates!

Hello Friends,

The local real estate market’s inventory is growing—and so, too, is the median time to contract, giving buyers more time to pick, choose and negotiate.

The housing market in January 2024 mirrors the trends observed in the latter half of 2023, as per data released by Florida REALTORS® and analyzed by the REALTOR® Association of Sarasota and Manatee. January saw a continued uptick in the months supply of inventory and a rise in median time to contract, indicating a gradual shift towards a more balanced market, favorable to buyers. The total number of active listings on the market almost doubled when compared to the previous year.

While the local real estate market is seeing sustained growth in its inventory levels, these levels are still below what was seen in Q1 of 2019. In the coming months, potential shifts in interest rates and insurance costs could reshape the market dynamics. Should interest rates decrease and insurance costs follow suit, we may anticipate a resurgence of buyers again entering the market.

Sarasota has been the city people move to and retire in for many years, and considered one of the best places to live in Florida – I don’t see that changing any time soon.

Debbie McHardy

SARASOTA PRESIDENT 2024

FEATURED LISTINGS

JUST LISTED – TRIPLE CREEK VILLAGE

12413 Streambed Drive, Riverview, FL

3BR/2BA | 1,458 SF | $360,000

Freshly completed residence featuring high end finishes and a 2-car garage.

CENTRAL PARK

825 S. Osprey Ave., #303 | Sarasota

2BR/2BA | 1,320 SF | $549,000

Set on Hudson Bayou, 3rd floor unit beautifully updated with garage parking.

PAYNE PARK VILLAGE

2321 Lindstrom Street | Sarasota

2BR/2.5BA | 1,175 SF | $659,000

Spacious townhome with 2-car garage with upgrades and split floor plan.

NORTHGATE OF LONGBOAT KEY

490 N. Shore Rd., #8 | Longboat Key

2BR/2.5BA | 1,350 SF | $1,125,000

Waterfront unit with incredible views overlooking Longboat Pass.

MARKET REPORT

• New Listings are up 3% from the previous month and have increased by 27% compared to last year.
• Active Listings inventory increased by 5% from the previous month and is up 40% compared to last year.
• The number of units sold increased from the previous month by 27% and has increased by 1% year over year.
• Inventory increased by 38% for the same time frame.
• Total Sales Volume increased by 27% month over month but has increased by 6% year over year.
• Average Days on Market have increased month over month and has increased since the previous year.

Take the Survey

The community is invited to participate in an online survey about Main Street in downtown Sarasota and how to improve parking, driving, walkability and overall aesthetics for one of the most popular destinations in the city. The Main Street Complete Streets project is in the early planning phase as the City looks to create a safer, visually pleasing, and more connected Main Street between US 41 and School Avenue. We’d like to hear from you on how to improve this segment of Main Street. The online survey will be available Friday, Feb. 16 through Friday, April 12 on the project webpage www.Sarasotafl.gov/MainStreetCompleteStreets

Gulf Island Ferry Expands Service

Gulf Islands Ferry added Thursdays to its regular schedule on Feb. 29. Now the ferries run four days a week, Thursday through Sunday. Both ferries, the Downtown Duchess and Miss Anna Maria, operate from 10 a.m. to 9 p.m., depending on weather conditions. The service includes three stops at Downtown Bradenton, Anna Maria Island and Bridge Street Pier. One-way tickets are $6 for adults, $4 for adults over 60 years old, $4 for children ages 4-18, and free for children 3 and under. Round-trip tickets are $10 for adults, $6 for seniors and $6 for youth. For more information and to view the full schedule, visit the Gulf Islands Ferry website at GulfCoastWaterTaxi.com.

Beach University

Beach University, an education program of Sarasota County Parks, Recreation and Natural Resources, returns for its 17th year to Siesta Beach in March. Beach University is held at the main pavilion at 948 Beach Road on Siesta Key beginning at 9:30 a.m. each Thursday of the month.

In partnership with the Siesta Beach Ambassador volunteer program, the free series offers information about coastal environments in one-hour sessions. The remaining schedule is:

• March 21: Manatee Rehabilitation at The Bishop Museum of Science and Nature.
• March 28: The Trickle-down Effect: Stormwater to Bay Life.

Let’s Play Ball

The 2024 spring training baseball season is in full swing, marking Sarasota County’s commemoration of the 100th Anniversary of spring training baseball. Spring Training began in Sarasota County in 1924 when Sarasota joined the Florida Grapefruit League. The first team to play a spring training baseball game in Sarasota was the New York Giants at Payne Park in the City of Sarasota. Six additional major league teams have called Sarasota County home for spring training baseball since 1924 including the Boston Red Sox, the Los Angeles Dodgers, the Chicago White Sox, the Cincinnati Reds, the Baltimore Orioles and most recently the Atlanta Braves. Sarasota County recognized the milestone 100th anniversary at Ed Smith Stadium, Wednesday, March 13. Spring training continues to be an integral part of Sarasota County’s rich sports history.

SPRING TRAINING TICKETS

Atlanta Braves – Cool Today Park, North Port

Baltimore Orioles – Ed Smith Stadium, Sarasota

MARCH 16:

St. Patrick’s Day Annual Leprechaun Hunt at The Clidren’s Garden and Art Center, Sarasota

British Open Pub St. Patrick’s Day parking lot party, 12:00 p.m. kick off

Sarasota St. Patrick’s Shamrock Bar Crawl, 3:00 p.m. kick off

Sarasota Gator Club St. Patrick’s Day Block Park – 1490 Main Street – 6:00 p.m. kick off

March 23

 Gardens in Paradise, a premier tour of private, exclusive gardnes hosted by the Sarasota Garden Club.

March 17 – 23

 Sarasota Jazz Festival

featuring a week of concerts, films, and more. Various venues and performances.

March 30

 9th Annual My Hometown Fest, Southwest Florida’s biggest neighborhood block party, featuring food, music, craft beer and spirits at Nathan Benderson Park.