Newsletter

Housing Inventory is on the Rise in Sarasota and Manatee Counties

By | December 28, 2018

House Upward Graph

House Upward GraphThe Realtor Association of Sarasota and Manatee reports an increase in closed sales, median prices and inventory in the real estate market. On trend with a typical November report, the market slows in new pending sales and new listings during this time of year.

Year-over-year, closed sales in the combined two-county area increased by 4.5 percent in November. Condo sales increased by 12.9 percent in Manatee County and decreased by 4 percent in Sarasota. Manatee single-family home sales increased by 7.6 percent, while Sarasota single-family home sales increased by 4.2 percent.

November 2018 experienced a decrease in pending sales, or the number of properties that went under contract this month. In Manatee County, pending sales for single-family homes decreased by 8.4 percent, while condos decreased by 31.4 percent. Pending sales in Sarasota County decreased by 9.8 percent for single-family homes and by 18.8 percent for condos.

Inventory is up overall by 9.9 percent, compared to last year’s two-county totals. Sarasota single-family homes increased by 16.3 percent to 3,131 available properties, while Manatee increased by 4.1 percent to 2,229. Sarasota condo inventory increased by 9.5 percent to 1,811, while Manatee condo inventory is up by 5.6 percent to 931 available properties. In addition to year-over-year, inventory also increased month-over-month in November.

New listings increased year-over-year with a combined increase of 2.9 percent. For single-family homes, new listings increased by 6.2 percent in Sarasota and by 5 percent in Manatee. Condo new listings decreased by 2.7 percent in Sarasota and decreased by 1 percent in Manatee. Aside for Sarasota condos, median prices increased when compared to November of last year. Manatee single-family homes increased by 8.5 percent to $313,496, while Sarasota prices increased by 5.3 percent to $300,000. Condo prices in Manatee increased by 2.9 percent to $186,500 and decreased by 4.6 percent to $229,000 in Sarasota County.

The market continues to favor the seller with the month’s supply of inventory under 5.5 months. Single-family homes in Sarasota increased by 14.6 percent to a 4.7-month’s supply. Manatee single-family homes sit at a 4.1-month supply, a 4.7 percent decrease. As for condos, Manatee County decreased by 7 percent to a 4-month’s supply and Sarasota is at a 5.1 month’s supply, a 1.9 percent decrease from last year.

The median time to contract, or the number of days between the listing date and contract date, hovers between 40 to 50 days in November. In Sarasota County, single-family homes spent a median 38 days on market, down 14 days from last year. For Manatee County, single-family homes were on the market for 50 days, down by one day from last year. As for condos, Sarasota county increased by 12 days to 49 days on the market, while Manatee condos decreased by 13 days to 46 days on the market.

To read the full press release and view the statistical charts click here.

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St. Armand’s Winter Art Festival

By | December 26, 2018

St Armands Circle Art Festival

St Armands Circle Art FestivalOne of the things I love about Sarasota is the many arts and crafts festivals we have during the year. One of my favorites is the St. Armand’s Winter Art Festival. There will be over 175 artists and craftsman displaying their original artwork.  Pottery, oils, watercolors, ceramics, jewelry, and sculpture.  This show is ranked in the top 50, out of 10,000 shows held each year in this country! This year’s festival will take place Saturday and Sunday, January 20 & 21 from 10am until 5pm…don’t miss it!

We’ll be enjoying some great weather in January and St. Armand’s Circle is a great place to hang out, shop, eat and enjoy some people watching. For a store directory visit www.starmandscircleassoc.com.

 

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Roessler’s Restaurant

By | December 7, 2018

Roessler's Restaurant Sign

Roessler's Restaurant SignRoessler’s restaurant in Sarasota has been family owned and operated since 1978. Originally, as the Flight Deck at the Venice Airport and then moving to their Sarasota location in 1985. Situated on nearly three acres of manicured gardens and a beautiful lake with a bridge and gazebo, Roessler’s is one of the most romantic restaurants on the west coast of Florida.

Roessler's Grounds

 

We had the pleasure of going there for a special occasion birthday dinner. It’s located off S. Tamiami Trail 2033 Vamo Way and you wouldn’t even know it’s back there from the road.

 

They are open at 5pm Tuesday through Sunday for dinner only. The menu features many of the standard dishes expertly prepared. They also do several tableside prepared desserts for a special treat! It was definitely a fine dining experience with impeccable service. If you haven’t been there I highly recommend it.

Check out their menu at RoesslersRestaurant.com

To make a reservation call 941-966-5688.

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Lights in Bloom at Selby Gardens

By | November 29, 2018

Selby Gardens Lights in Bloom

Selby Gardens Lights in Bloom

Marie Selby Botanical Gardens lights up the holiday season with Lights In Bloom. Over one million lights will illuminate the garden and walkways will be transformed into sensory light tunnels. Visitors will have the opportunity to stroll through magical gardens filled with beautifully lit flowers, radiant rainforest butterflies, dragonflies and more. The tropical holiday paradise includes nightly visits from Santa and his elves (before Christmas Eve), children’s arts and crafts activities and games, plus live entertainment from SoulRCoaster and The Hydramatic. Grilled foods will be available for purchase from the Michael’s on East grill including a cash bar. The Selby House Cafe will also be open with its full menu. In its 15th year, Lights In Bloom has become a tradition for residents and visitors to celebrate the holiday season in Sarasota.

$20 Members; $25 Guests; Children ages 5 – 12 $7; Kids under 5 Free
Groups of 25 or more $20pp

TROLLEY WILL BE AVAILABLE 5:30 – 10 p.m. from Sarasota Friendship Center (1888 Brother Geenen Way
)

For more information or to purchase tickets visit: https://selby.org/events/event/lights-in-bloom-2/

 

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Sarasota Manatee Real Estate Update

By | November 27, 2018

The Sarasota Manatee Realtor Association reports that compared to last year, the market statistics report more closed sales, inventory and a general rise in median prices in October 2018.

Year-over-year, combined closed sales in the two-county area increased by 8 percent. The condo market improved with a 27.3 percent increase in Manatee County and a 10.3 percent increase in Sarasota. Manatee single-family home sales increased by 14 percent, while Sarasota single-family home sales decreased by 2.1 percent.

In Manatee County, pending sales for single-family homes increased by 2.8 percent, while condos decreased by 3.6 percent. Pending sales in Sarasota County decreased by 4.7 percent for condos and by 6.3 percent for single-family homes.

Median prices for Manatee single-family homes increased by 4.2 percent to $298,000, while Sarasota decreased by 3.2 percent to $270,000. Condo prices in Sarasota increased by 4.4 percent to $233,745 and Manatee decreased by 1.9 percent to $191,250.

Aside from a decrease in the Manatee condo market, new listings increased year-over-year. For single-family homes, new listings increased by 12.5 percent in Sarasota and by 5.1 percent in Manatee. Condo new listings increased by 1.7 percent in Sarasota and decreased by 4.9 percent in Manatee.

Inventory is up by 6.1 percent, compared to last year’s two-county area totals. Sarasota single-family home inventory increased by 12.8 percent to 2,866, while Manatee single-family homes increased by 0.5 percent to 2,092. Sarasota condo inventory increased by 6.9 percent to 1,624, while Manatee condo inventory is down by 2.4 percent to 810 available properties.

With month’s supply of inventory falling under 5.5 months, a sellers’ market remains. Single-family homes in Sarasota increased by 10.3 percent from last year to a 4.3-month’s supply. Manatee single-family homes sit at a 3.9-month supply, a 7.1 percent decrease. As for condos, Manatee County decreased by 14.6 percent to a 3.5 month’s supply and Sarasota is at a 4.6 month’s supply, a 6.1 percent decrease from last year.

Monthly reports are provided by Florida REALTORS® with data compiled from My Florida Regional Multiple Listing Service. To view the full press release and statistical charts, visit www.MyRASM.com/statistics.

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Morton’s Gourmet Market

By | November 6, 2018

Morton's Market Front

Morton's Market FrontRight in the heart of Southside Village, Morton’s Market has been a tradition in Sarasota for over 50 years. This full service specialty food store has something for every occasion. From the Gourmet-to-Go with entire meals prepared for you to your everyday grocery items, they have it all.

It’s not a restaurant in the traditional sense but they have many prepared items such as salads, soups, sandwiches, sushi, pizza and even a hot food bar! In addition there is a meat counter, bakery, produce department and cheese shop. If you’re in need of the perfect gift they have gift baskets and gift cards readily available.

The market is open 7 days a week and hours vary by day and department so check their website for the current times. They have an additional location right in the heart of Siesta Key Village as well.

Morton's Siesta Market

Morton’s Gourmet Market is located at 1924 South Osprey Blvd. in Sarasota and Morton’s Siesta Market is located at 205 Canal Road, Siesta Key

For more information or place an order visit their website at Morton’s Market

Morton's Market Logo

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Current Real Estate Market Statistics for Sarasota and Manatee Counties

By | October 20, 2018

When Hurricane Irma made its path toward Sarasota and Manatee County in September 2017, sales stalled in both counties due to limited business days surrounding the storm. After last year’s irregular report, this September showed significant improvement in new listings, pending sales and overall closed sales.

Compared to last year, combined closed sales in the two-county area are up by 7.6 percent. The condo market improved with a 7.5 percent increase in Sarasota sales and a 12.5 percent increase in Manatee County. As for single-family homes, Sarasota sales increased by 3.6 percent and Manatee sales increased by 10.7 percent.

More properties went under contract this month, compared to last year’s stall, with a 31.8 percent combined increase. Condo pending sales in Sarasota county increased by 40.5 percent, while Sarasota single-family homes increased by 28.8 percent. In Manatee County, condo pending sales increased by 32.8 percent, while single-family homes increased by 39.9 percent.

As for new listings, the combined totals increased from last year by 36.5 percent. Single-family home new listings increased by 50.5 percent in Sarasota, while Manatee experienced a 31.7 percent increase. Condo new listings increased by 19.5 percent in Sarasota and by 29.4 percent in Manatee.

Notably, median prices continue to rise. Manatee single-family homes stayed at $295,000, while Sarasota increased by 3.7 percent to $280,000. Condo prices in Sarasota increased by 7.4 percent to $236,248 and Manatee increased by 2.8 percent to $186,575.

Inventory is up by 2.7 percent, compared to last year’s two-county area totals. Sarasota single-family home inventory increased by 6.7 percent to 2,583, while Manatee single-family homes decreased by 0.8 percent to 2,002. Sarasota condo inventory increased by 4.2 percent to 1,463, while Manatee condo inventory is down by 3 percent to 774 available properties.

According to current month’s supply of inventory, the market continues to favor the seller. Single-family homes in Sarasota and Manatee are both at a 3.8-month supply, a 2.7 percent increase in Sarasota and a 5 percent decrease in Manatee. As for condos, Manatee County decreased by 12.8 percent to a 3.4 month’s supply and Sarasota is at a 4.2 month’s supply, a 6.7 percent decrease from last year.

Monthly reports are provided by Florida REALTORS® with data compiled from My Florida Regional Multiple Listing Service. For comprehensive statistics dating back to 2005, visit www.MyRASM.com/statistics.

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Ponies Under the Palms Mustang Show

By | October 15, 2018

Mustang Car

Mustang CarIf there’s one great thing for a Mustang fan living in the southern parts of the country it is many car shows are planned through the fall and winter months that keep the hobby going while the northern states have everything buttoned up in the garage for the winter. One of Florida’s popular shows is the annual Ponies Under the Palms Mustang & Ford Show in held on Main Street in Lakewood Ranch. This year marks the 27th annual event and it will be held on Sunday, November 18th from 8:00 a.m. to 3:00 p.m.

The show features Mustangs of all years and Ford-powered vehicles like Falcons, Thunderbirds, Fairlanes, and even a Ford GT supercar or two. Ford car and truck owners can enter their vehicles for popular vote-style judging, awards, and prizes. Details are available at www.mustangclubofwestcentralflorida.org. The event is open to the public for viewing and there are multiple stores, restaurants, and more for show attendees and visitors to shop or grab a bite to eat.

 

 

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Millie’s Restaurant Cafe

By | October 8, 2018

millies-tea-2_med

millies-tea-2_medMillie’s has been a staple in Sarasota for over 20 years serving the after-church, and daily business crowds. They are open 7 days a week from 7am to 2:30pm. On Wednesdays they are open from 3-5pm for afternoon tea (reservations required) and also available for private tea parties for special events (birthdays, showers, book clubs, etc.). In addition to all this they offer catering as well.

We have been there for breakfast and lunch at various times over the years and you can’t go wrong with anything on their menu. The food is always fresh and delicious! To view the menu click here.

Millie’s is located at 3900 Clark Road. For more information or to make a reservation give them a call at 941-923-4054.

Millie's Front

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Homes Sold Quickly in August

By | September 20, 2018

The Realtor Association of Sarasota and Manatee reports that August 2018 numbers show an increase in closed sales, inventory and new listings in the Sarasota and Manatee housing market. With pressure from rising prices, the median time to contract is down across both counties.

This month, there were 1,898 reported closed sales in Sarasota and Manatee, a 4.3 percent increase from August 2017. The condo market continues to improve with a 10.1 percent increase in Sarasota sales and a 26.9 percent increase in Manatee County. As for single-family homes, Sarasota sales decreased by 1.2 percent and Manatee sales increased by 0.2 percent.

Compared to last year, August 2018 reported fewer pending sales. In the two-county condo market, total pending sales increased by 6.6 percent. Single-family homes showed a decrease of 12.8 percent for total pending sales.

The median time to contract decreased across the two counties. Sarasota condos decreased by 1.3 percent to 76 days on the market, while Manatee condos decreased by 16.1 percent to 47 days on the market. As for single-family homes, both counties reported a median 44 days on the market, a 2.2 percent decrease in Manatee and a 12 percent decrease in Sarasota.

Median sales prices also continue to rise, year-over-year. Sarasota single-family homes increased by 9.9 percent to $283,488, while Manatee increased by 3.2 percent to $296,000. Condo prices in Sarasota increased by 9.1 percent to $232,950 and Manatee increased by 3.8 percent to $190,000.

The condo market continues to shine with a jump in new listings, or the number of properties put on this market this month. Sarasota condo new listings increased by 11.4 percent and Manatee condo new listings increased by 8.2 percent. Single-family home new listings increased by 4.5 percent in Manatee County, while Sarasota single-family home new listings only increased by 0.3 percent.

With more listings comes more inventory. The overall inventory is up by 1.2 percent, compared to last year’s two-county area totals. Sarasota single-family home inventory increased by 3.2 percent to 2,595. Manatee single-family home inventory decreased by 2.7 percent to 2,050. Sarasota condo inventory increased by 5.1 percent to 1,425, while Manatee condo inventory is down by 1.5 percent to 801 available properties.

The Sarasota and Manatee County market favors the seller, as noted by the current month’s supply of inventory. Single-family homes in Sarasota and Manatee are both at a 3.9-month supply, a 2.6 percent increase in Sarasota and a 4.9 percent decrease in Manatee. As for condos, Manatee County decreased by 7.7 percent to a 3.6 month’s supply and Sarasota is at a 4.1 month’s supply, a 4.7 percent decrease from last year.

Monthly reports are provided by Florida REALTORS® with data compiled from My Florida Regional Multiple Listing Service. For comprehensive statistics dating back to 2005, visit www.MyRASM.com/statistics.

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