As inventory goes up for home listings in Sarasota and Manatee counties, real estate agents report increasing competition on prices.

The number of single-family homes in Sarasota and Manatee counties surged in April, according to the Realtor Association of Sarasota and Manatee. Data released last week showed the inventory for the counties combined climbed to 5,755 homes and 3636 condos. In terms of raw listings, that reflects more than a 71% spike in active home listings compared to April 23, and more than a 92% jump in condo listings.

That means the Sarasota-Bradenton-North Port metropolitan area as of last month had a 6.3-month supply of condos and a 4.5-month supply of homes.

Realtors generally consider a six-month supply to be a balanced market.

“The significant rise in inventory across both counties is a clear indication of a shifting market dynamic,” said Tony Barrett, president of RASM and owner of Barrett Realty. “Buyers now have more options to choose from, which is reflected in the extended time properties are

staying on the market.”

The median time to a contract in the two-county market has now climbed to 41 days for homes and 46 days for condos, up from 23 days last April for either category of unit.

Meanwhile, the average sales price in Sarasota County has surged since last year.  The average price for a home in Sarasota County in April reached more than $781,000, nearly $130,000 higher than it was a year prior. A condo in Sarasota cot almost $700,000 on average, up from less than $562,000 last year.

The story played out differently in Manatee County. The average price for a home in Manatee went down roughly $17,000 from last year, but remained at early $719,000. But the average condo price continued to climb, reaching almost $597,000, down about $80,000 from the past year.

In total, the counties combined saw 1,496 home and 707 condo sales closed in April, an increase from last year in both categories.

“It’s encouraging to see closed sales increase, even with the higher inventory levels. This indicates that buyers are still actively engaging with the market, taking advantage of the increased options available to them,” Barrett said. 

Graphic courtesy Realtor Associationltor Association of Sarasota and Manatee.

Attention all fashion fanatics! Brooklyn Boutique, on South Pineapple Avenue, has recently opened. True to their New York roots, owners Tyni and Paul Lazzaro have cultivated a melting pot of garments, brilliantly blending the edge of New York with the coastal cool of Sarasota.

“I’m originally from Brooklyn, and I grew up all over New York. I wanted to bring the vintage feel and experience of Soho and Brooklyn here.” Says Tyni, “Growing up, my favorite spots were in Brooklyn, Soho, Wooster Street, and West 4th. Looking back reminded me that we don’t have shops like that in South Florida.”

Growing up in New Jersey and Brooklyn respectively, Paul and Tyni have been falling in love with Sarasota for over a decade. After their family moved to Sarasota seventeen years ago, the couple visited the city countless times, studying the culture and enjoying the sun. “It’s gorgeous.” Tyni explains, “Especially with the local art around Pineapple Avenue, once the opportunity came to open something that we wanted to open, it definitely had to be here.”

Tyni continues, “I feel like Sarasota has become a huge melting pot, which I love. That’s what New York is known for. And I also noticed that people do miss their homes, whether they’re snowbirds or if they’ve been here for 20 years. People are coming in just because they see the sign–they’re still curious because home is home.”

Tyni’s experience working for high-end brands like Barneys and Wolford makes her no stranger to fashion and trend cycles. “I did that for years,” Tyni explains, “I can see what people want.” When she needs a second opinion, she turns to family, “My son, he’s helped us a lot to pick stuff, especially for the younger spectrum.” 

Reflecting on the boutique’s divergence from traditional coastal merchandise, Tyni continues, “Many boutiques here are coastal. I know that people wanted something a little different, more wearable stuff. We have to cater to that.” 

Carrying a variation of garments, Brooklyn Boutique serves an array of styles. Calling back to her experience in retail, Tyni implements the variation found at larger stores at her boutique. From trending tank tops to evening attire, Brooklyn Boutique aims to meet every need–even men’s wear. “We’re getting a lot of men that are interested.” Paul says, “There’s just not a lot for men at your usual boutique.” 

In the future, the Lazzaros hope to increase Brooklyn Boutique’s selection of merchandise that reflects their cultural background. “I’m from Ecuador and he’s Italian,” Tyni says. For me it’s important to bring little spurts of my culture.” Currently, they have Tagua bracelets, amazingly made from palm tree nuts native to the tropical rainforests of Ecuador.

Brooklyn Boutique is an appreciated addition to Sarasota’s blooming fashion scene. From adorable glass mugs to stylish, practical clothing, Brooklyn Boutique just might have what you need.

Brooklyn Boutique, 407 South Pineapple Ave., 941-444-7265. 

Pictured: Tyni and Paul Lazzaro bring New York style to Sarasota with Brooklyn Boutique. Photo by Eliana Burns.

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Local independent brokerage Michael Saunders & Company held its annual sales meeting at the Hyatt Regency Sarasota on May 16th. The theme of the event was “Culture, Commitment, and Collaboration.” Celebrating its 48th year as the leading luxury brokerage on the Suncoast, Founder and CEO Michael Saunders emphasized the company’s supportive culture, unique collaborative spirit, and strong community ties that have made Michael Saunders & Company a leader in the local real estate market. Addressing the recent chatter in the real estate industry about the proposed changes from the National Association of Realtors (NAR) settlement, Saunders reassured the 420+ agents in attendance. She reflected on the numerous challenges they have overcome in over 48 years, including “technological advancements, globalization, the internet revolution, shifts in demographics and consumer preferences, a major recession, and a global pandemic. As a company, we met each challenge head-on, adapted to the changes, and, as a result, Michael Saunders & Company became stronger.” She continued, “Nothing has happened that will change the essence of who we are as a company or the value we provide. We are a full-service company that provides exceptional services. This has been who we are, and that will not change as we go forward.” Members of the leadership team, Chantè Blough, Chief Marketing Officer, and Chip Murphy, Vice President of Business Development, then took the stage to discuss the game-changing applications of artificial intelligence (AI). They demonstrated several ways AI can assist real estate agents by enhancing efficiency and accuracy while emphasizing the irreplaceable human element fundamental in real estate. "Our industry thrives on personal connections, a deep understanding of client needs, and the nuanced art of negotiation—qualities that are inherently human," Chantè stated. President Drayton Saunders commented on the substantial growth in the market, highlighting expanding communities in Parrish, Ellenton, Lakewood Ranch, and Wellen Park. He also announced the exciting news that a new branch office will open in Wellen Park next year. Keynote speaker Matthew Ferrara, writer, philosopher, photographer, and renowned speaker in the real estate industry, delivered an inspiring talk on setting clear goals, unleashing the power of your mindset, and utilizing your skill set and sphere of influence to grow your business and achieve success. He also pointed out that consumers are using realtors more than ever, citing 93% of consumers used a realtor in 2023 compared to 77% in 1997. Final guest speaker Marci Rossell, former CNBC Chief Economist and current Chief Economist for Leading Real Estate Companies of the World, provided keen insights into the year’s economic outlook. She posited that the Federal Reserve will likely lower rates this year, but probably not until September. Rossell also clarified that, based on history, elections do not significantly affect the economy. She concluded her talk by stating that the future is optimistic and that “the implementation of artificial intelligence is lifting productivity, which will ultimately lift the standard of living.”