Newsletter

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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Art Ovation Rooftop Bar

By | September 11, 2018

perspective-rooftop-pool

perspective-rooftop-poolThe new Art Ovation Hotel in Sarasota is now open and one of the many unique features of the hotel is their rooftop bar, Perspective, which has an upbeat and laid back atmosphere. The bar is adjacent to the hotel’s pool where they were setting up for some live music when we visited recently. We found it to be a great spot for drinks and light bites and perfect for watching the setting sun. They have numerous umbrellas so you can get out of the sun and still enjoy great views of Sarasota.

The service was prompt and super friendly.  They have a full bar lineup with several signature crafted cocktails. We had Sunset Through the Skyspace and Flowers on the Wall. Both were unique and tasty. Since we were early in the evening we decided on an appetizer Chicken Quesadilla which was served piping hot and delicious. Check out the full menu here: Perspective Menu

Art Ovation is located at the intersection of Palm Avenue and Cocoanut Avenue. The Palm Avenue Garage is right behind the hotel for convenient parking.

Art Ovation Hotel Map

 

 

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Master Gardener Plant Sale

By | September 6, 2018

Master Gardener

Master GardenerDon’t miss the 13th annual Master Gardener Plant Sale by the University of Florida Institute of Food and Agricultural Sciences Extension. This is a FREE family-friendly fall gardening event featuring sustainable gardening education, landscape problem diagnosis, and thousands of plants for sale, plus an open house highlighting all UF/IFAS Extension Sarasota County has to offer.

Date:  October 13, 2018

Time:  8 a.m. to 1 p.m.

Location:  UF/IFAS Extension Sarasota County
Twin Lakes Park, Green Building
6700 Clark Road, Sarasota 34241

Proceeds from the sale benefit the Master Gardeners Chapter of the Friends of Sarasota County Parks, which supports Master Gardener education outreach programs in Sarasota County. Purchases may be made by cash or check.

Plant Sale: Find your right plant, for the right price!

EdFest Open House: See all that Extension has to offer you!

For more information visit UF/IFAS Extension Sarasota County

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Condo Market in Sarasota and Manatee

By | August 27, 2018

Condos

CondosThe Realtor Association of Sarasota and Manatee reports that July inventory fell short, but sales continued to climb year-over-year. The condo market is strong with more pending sales and new listings this month.

In July 2018, Sarasota and Manatee County reported 1,885 closed sales, a 10.3 percent increase from last year. In Sarasota County, condo sales increased by 11.4 percent to 341, and single-family homes increased by 3.1 percent to 704. As for Manatee County, condo sales increased by 10.1 percent to 218 and single-family homes increased by 19.2 percent to 622.

Pending sales represent the number of properties that went under contract this month. Across both counties, pending sales increased in the condo market but decreased for single-family homes. In Manatee County, condo pending sales are up by 18 percent, while Sarasota condo pending sales are up by 6.6 percent. As for single-family homes, Manatee County is down by 1.2 percent, while Sarasota is down by 1.8 percent.

July brought more condo listings, but fewer single-family homes were added to the market when compared to last year. New listings in Sarasota condos increased by 5.6 percent and Manatee condos increased by 18 percent. As for Sarasota single-family homes, new listings decreased by 7.5 percent and Manatee decreased by 14.7 percent.

July’s overall inventory is down from last year. Sarasota single-family homes decreased by 4 percent to 2,605, while Manatee single-family homes decreased by 5.3 percent to 2,045. Sarasota condo inventory decreased by 1.9 percent to 1,431, while Manatee condo inventory is down by 0.2 percent to 849 available properties.

Median sales prices stay on the rise, year-over-year. Sarasota single-family homes increased by 8 percent to $280,750, while Manatee increased by 3.2 percent to $309,500. Condo prices in Sarasota increased by 8.3 percent to $232,000 and Manatee increased by 20.8 percent to $199,250.

Sarasota and Manatee County are both in a seller’s market, a reflection of the current month’s supply of inventory. Single-family homes are depleting the current inventory at an estimated 3.9 months, a 4.9 percent decrease in Sarasota and a 9.3 percent decrease in Manatee County. As for condos, Manatee County decreased by 4.9 percent to a 3.9 month’s supply and Sarasota is at a 4.1 month’s supply, a 10.9 percent decrease from last year.

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

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International Coastal Cleanup

By | August 14, 2018

Coastal Cleanup

Coastal CleanupThe ocean supplies the food we eat, the air we breath, the water we drink. It’s our planet’s life support system. And it’s at risk. Pollution is changing the basic chemistry of the ocean. Overfishing is damaging fish stocks. The trickle down effect is huge: people’s livelihoods, the food on our plates, the health of our planet, and the entire eco-system, all in danger. But you can make a difference.

Join volunteers from around Sarasota County to collect trash polluting our waterways. This is an Ocean Conservancy initiative which began in 1986. More than 18 million pounds of trash was collected by nearly 500,000 volunteers during the 2016 International Coastal Cleanup.

This year’s event will be held on Saturday, Sept. 15, 2018. Registration will open in August 2018.

For more information or to sign up to volunteer visit Sarasota County Government

 

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Friday Fest at the Van Wezel

By | July 31, 2018

Friday Fest 2018 Rebel Heart

Friday Fest 2018 Rebel Heart

Summer is in full swing and the Van Wezel Performing Arts Hall continues to host Friday Fest  which is a free outdoor concert series. On August 17th from 5-9pm the band Rebel Heart will be performing. This is a fun event on the south bayside lawn where you can bring a chair, blanket or whatever to sit on. Many vendors are available for food and drink purchase. Outside food and drinks are not permitted.

Rebel Heart’s music features some of today’s most popular country songs, mixed with a healthy dose of hits from pop, rock, dance, and the blues. Rebel Heart’s 5-piece band puts on a high-energy, powerful and melodic country rock act that is a must-see!

The bayside lawn is the perfect spot to enjoy a Sarasota sunset so come out and join in the fun!

For more information visit: http://www.vanwezel.org/boxoffice/rebel-heart/

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Home Sales Rise Again

By | July 26, 2018

The Sarasota and Manatee market stays on trend with increasing home sales, rising median prices and low inventory in June 2018. Sarasota County and Manatee County reported a total of 2,097 closed sales in June 2018, a 5.2 percent increase from last year. In the condo market, Sarasota sales increased by 3.8 percent to 384, while Manatee condo sales increased by 20.9 percent to 278. As for single-family homes, Manatee sales increased by 4.8 percent to 637, while Sarasota increased by 1.7 percent to 798.

Combined pending sales, or the number properties that went under contract this month, increased by 3 percent from June of 2017. In Manatee County, condo pending sales are up by 7.3 percent, while single-family pending sales are up by 9.9 percent. As for Sarasota County, there was no change in the condo market and a 2.3 percent decrease in single-family home pending sales.

Overall, inventory is down compared to June 2017. Sarasota single-family homes decreased by 3.4 percent, while Manatee single-family homes decreased by 1.1 percent. Sarasota condo inventory increased by 1.9 percent, while Manatee condo inventory is down by 2.8 percent in the two-county area.

Median sales prices continue to rise. Sarasota single-family homes increased by 1.6 percent to $279,500, while Manatee increased by 0.8 percent to $300,000. Condo prices in Sarasota increased by 2.7 percent to $221,250 and Manatee increased by 4.9 percent to $191,500.

At less than 5 months to deplete the current inventory, the two counties represent a seller’s market in June 2018. Manatee condos are at a 4.1-month supply, a 6.8 percent decrease from last year. Sarasota condos are at a 4.5 month-supply, a 6.3 percent decrease. Both Manatee and Sarasota single-family homes decreased to a 4.1-month supply of inventory.

To view the full press release or to view the statistical charts visit: Sarasota Manatee Realtors

 

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