The region’s real estate market cooled in July, with inventories reaching a higher level than seen since before the COVID-19 pandemic. That’s according to the latest statistics from the Realtor Association of Sarasota ana Manatee, which saw the shift as a market correction following a series-long surge in buying interest.

“The market is getting back to how it was before the pandemic, and while it might seem like things are cooling off, that's actually a good thing,” said Tony Barrett, RASM president and the broker/owner of Barrett Realty. “It means we're in a more balanced market, which is great news for both buyers and sellers.”

Real estate professionals typically consider a six-month inventory a balanced market. In the condo and townhome market, Sarasota County in July had a 5.7-month supply of units, and Manatee had a near identical 5.6-month inventory. The single-family home market still remains a seller’s market, with a 4.8 month inventory in Sarasota County and a 3.9-month supply in Manatee. But by comparison, the county’s combined home inventory in July 2023 was just 3 months, and the condo inventory was just 3.3 months. A year before that, the July 2022 condo inventory sat at 1.7 months and the home inventory was 2.2 months.

The greater supply has brought with it a significant drop in prices, along with a smaller number of buyers paying cash for homes. The median price for single-family homes sold in July was $470,000 in Sarasota County and $499,000 in Manatee. That represented a 3.1% year-over-year decline in Manatee, and a 12.1% drop in Sarasota. Both counties saw roughly a 6% drop in the median price of condos solid in July, to $365,000 in Sarasota and to $329,000 in Manatee.

Sellers are now settling for a lower percentage price compared to their list price, but are still getting more than 92% of their asking price regardless of the county or the real estate category. In Manatee County, the median percentage of list price on closed sales remained about 96% of what sellers originally listed.

While that may disappoint those putting the homes on the market now, Barrett said that ultimately pointed to a healthier market than the rush to buy that started in late 2020.

“The drop in median sales prices shows the market is adjusting, making it more affordable for buyers. It's a sign that we're moving toward a healthier, more balanced market overall,” Berrett said.

At the same time, the region saw more closed sales on homes compared to July 2023. The counties combined experienced 1,328 close sales in July compared to 1,257 the same month the prior year. The number of transactions was relatively flat in the condo market, with 510 sales closed in the two-county area in July, compared to 515 last year. 

Graphic courtesy Realtor Associationltor Association of Sarasota and Manatee.

The Art & Cultural Alliance of Sarasota County, under the leadership of Chief Executive Officer Brian Hersh, plays a pivotal role in promoting and advocating for the arts within the region. With a deep appreciation for timeless wisdom, Hersh guides the Alliance in fostering a vibrant and creative community. Through initiatives like co-hosting the Behind The Masterpiece podcast and engaging in critical community conversations, the Alliance ensures that arts and culture remain integral to the development and enrichment of Florida’s Cultural Coast. In this enlightening Q&A series, we learn a bit more about Hersh and his work with The Art & Cultural Alliance of Sarasota County.

What book are you reading now that expands on your business acumen?

I continue to turn back to The Art of War by Sun Tzu, over and over again. I’m captivated that something written over two thousand years ago still resonates. A treatise that stands the test of time in this manner is indeed a work of art. In a business sense, the writing really digs into organizations and how strength comes from understanding the components of conflict, ultimately guiding a victorious outcome.

What podcast are you listening to that is inspiring you in your business life?

You’re talking to a musician here, so when I listen to anything, I generally prefer music. But when I do listen to a podcast I’m going to pick: I 501(c) You hosted by Michael Corley from The Corley Company. Michael offers great support and wisdom as a business leader to our nonprofit leaders. I also went to college with Jon Fortt, co-anchor of The Closing Bell: Overtime on CNBC. It’s nice hearing a familiar voice talk about what’s happening, so I’ll tune into his podcast from time to time. Finally, I have the great honor to co-host Behind The Masterpiece, a podcast produced by Visit Sarasota County, to help share the excitement of Florida’s Cultural Coast.

Share one of your business bucket list items.

Though I lived in New York City for years, I never made it into the New York Stock Exchange. I would love to be on the floor and experience the opening or closing bell!

What inspired the creation of the Arts and Cultural Alliance of Sarasota County, and how has its vision evolved to become the guiding light for arts and culture in the region?

Sarasota County has been a hub for Arts & Culture since the early 20th Century. With that, what was originally formed at the Sarasota Arts Council was incorporated in 1986 and has always supported and promoted arts and cultural organizations and individual artists. The Arts & Cultural Alliance continues as a resource, voice, and advocate of arts and culture, ensuring they are essential elements for the development of a vibrant, creative community.

How do the Arts and Cultural Alliance of Sarasota County work to advocate for and secure the future of the arts, ensuring they continue to thrive and enrich the cultural landscape of Florida’s Cultural Coast?

We do our best to be at the table around community issues. We believe that arts builds community. So, if there are issues our community faces, such as attainable housing, then it is important to be in that conversation. It also means we have to listen a lot to our artists and organizations --- to help channel their work to positively impact the community. As we continue to advocate, it is important for voters and elected officials to see how arts and culture help our region advance.

For more information about the Art & Cultural Alliance of Sarasota County, you can visit their website here. https://www.sarasotaarts.org/ 

Pictured: Brian Hersh, the CEO of the Art & Cultural Alliance of Sarasota County. Photo courtesy of Sorcha Augustine.

Sheryl Vieira was honored at the Florida Public Relations Association’s Golden Image Awards and Pinnacle Awards Gala held August 6, 2024, at the Grand Hyatt Tampa Bay as part of the PR & Comms Summit, a 3-day communications and marketing conference.This year’s award winners demonstrated the best in public relations, marketing, advertising, digital, social, design, events, promotions, educational materials and beyond. Nonprofit and for-profit organizations throughout the United States were invited to submit their projects for consideration during the 2024 awards program. Each entry was reviewed by a judging panel comprised of leaders in the public relations and communications industry. Caldwell Trust Company was honored with the Gold Pinnacle Award for Corporate Team of the Year, a recognition of the exceptional leadership of Sheryl Vieira, VP of Marketing and Communication and Jan Miller, Senior Executive Vice President & Trust Officer. The Florida Public Relations Association is the oldest public relations organization in the United States. With more than 1,000 members, FPRA is dedicated to developing public relations practitioners who, through ethical and standardized practices, enhance the public relations profession in Florida. The organization first launched the Golden Image Awards program 67 years ago to recognize outstanding work in public relations and communications. The Golden Image Awards consists of four divisions: Public Relations Programs, Collateral of Public Relations, Digital Tools of Public Relations and Student Projects in Public Relations. Each division is comprised of multiple categories. This year, the awards presented included: Judges’ Award, for entries that demonstrate outstanding return on investment; Judges’ Creativity Award, for entries that demonstrate outstanding creativity; Award of Distinction, for excellent and high scoring entries within each category; Golden Image Awards, for the highest scoring entry in each category; Grand Golden Image Awards, for the top entries in the Collateral of Public Relations and the Digital Tools of Public Relations divisions; and the Dick Pope All Florida Golden Image Award, for the top entry in the Public Relations Programs division. The awards ceremony also included the inaugural Pinnacle Awards, a new award program designed to recognize the individual communicators, agencies and teams performing exceptional work in public relations and communications, not tied to a specific project. Awards presented included Silver and Gold Pinnacle Awards in the following categories: Small Agency of the Year, Medium Agency of the Year, Nonprofit Team of the Year, Government Team of the Year, Corporate Team of the Year, and Communicator of the Year. Self and peer nominations were accepted earlier this year. Award winners were chosen by FPRA’s past state presidents. For more information about the Golden Image Awards, visit vhttps://goldenimageawards.org/  and for information regarding the Pinnacle Awards, visit https://goldenimageawards.org/pinnacle-awards/. 

Pictured: L-R-2024 Pinnacle Award WInnerCorporate Team of the Year Jan Miller and Sheryl Vieira.

The Economic Development Corporation of Sarasota County (EDC) is set to host its 2024 Annual Meeting honoring the achievements in diversifying and growing Sarasota County’s economy while celebrating its innovative future. Attendees will witness a special presentation, including the announcement of this year’s Clyde Nixon Honoree – a  Sarasota County business leader who embodies the personal and business values demonstrated by Nixon, who was chairman of Sun Hydraulics. The honor was established in 2007 when Nixon was recognized posthumously.  Ringling College of Art and Design’s President, Dr. Larry Thompson, will host a panel discussion. The featured panelists of industry experts will include Vladimir (Vlad) Ljesevic, Co-Founder & Managing Partner, CMPSE; Rick Severance, Division President, Wellen Park; Dr. Alex Beavers, Chief Innovation Officer, Mote Marine Laboratory & Aquarium. Each of the panelists offers a unique perspective as to what the future looks like not only locally, but also more regionally, in the industries of tech, real estate, and the Blue Economy - an economic system or sector that seeks to conserve marine and freshwater environments while using them in a sustainable way to develop economic growth and produce resources such as energy and food.  The event will take place at The Ora – 578 McIntosh Rd, Sarasota, FL 34232 – on Thursday, September 12th. Networking begins at 11:00 a.m., and then the event will start promptly at 12:00 p.m. To purchase a table or sponsorship for the 2024 Annual Meeting, please contact Anna Eger at aeger@edcsarasotacounty.com or (941) 893-0277. Individual tickets can be purchased at https://www.eventbrite.com/e/2024-annual-meeting-tickets-927273779837?aff=ebdssbdestsearch.  

For ticket information click here.

The Florida Airports Council (FAC) presented Fredrick J. Piccolo, A.A.E., President, Chief Executive Officer of the Sarasota Manatee Airport Authority, the 2024 Aviation Leadership Award.  This award is presented to an airport professional who has demonstrated outstanding service and contributions to the Florida airport community. Recognizing his achievements, the award emphasizes Mr. Piccolo’s assistance over the last two years with FAC leadership and State Affairs personnel on numerous legislative issues. Mr. Piccolo’s long tenure as CEO and his deep political relationships allowed him to work with FAC to advance legislation that supports Florida airports.  In addition, Mr. Piccolo worked with the FAC Executive Board and all Florida airport’s CEOs to establish new leadership within the organization. Fredrick J. Piccolo has over 53 years of experience in the aviation industry beginning in 1970 at the Buffalo Niagara International Airport. Upon moving to Florida, he worked at Tampa International Airport, followed by his tenure as Assistant Airport Director at the St. Pete-Clearwater International Airport. Mr. Piccolo has served as President, Chief Executive Officer of the Sarasota Bradenton International Airport since 1995.  He has overseen a myriad of challenges in his 29-year tenure while still managing to lead the Sarasota Bradenton International Airport to become the fastest growing airport in the U.S. amongst the largest 100 airports when comparing 2023 vs. 2018. 

The Sarasota County Sheriff’s Office is pleased to announce the agency again received funding for a High Visibility Enforcement (HVE) initiative for pedestrian and bicycle safety. Sarasota County ranks in the top 25 counties in Florida for traffic crashes resulting in serious and fatal injuries to pedestrians and bicyclists. To protect the safety of vulnerable road users, the sheriff’s office will conduct HVE details to increase awareness of and compliance with traffic laws that protect the safety of pedestrians and bicyclists. These details will occur from September 1, 2024, through May 9, 2025, focusing on predetermined locations based on statistical crash data.Funding for this initiative is provided through a contract with the University of North Florida and the Institute of Police Technology and Management in partnership with the Florida Department of Transportation. The sheriff’s office will receive funds for overtime hours to conduct operations and special training on Florida’s bicycle and pedestrian laws, procedures, and best practices. 

The Florida Department of Environmental Protection’s on August 19 announced significant proposed changes to nine state parks across Florida. In the time since, Floridians throughout the State have been vocal in their objections to the proposal. Thank you to everyone who has reached out to ask how you can take action. The outpouring of support from those in our community who want to protect our state parks has been tremendous and we're honored to stand alongside you to preserve wild Florida.

It is essential we safeguard the critical lands upon which our community and native wildlife depend. State parks provide exceptional opportunities to enjoy wild Florida at its best – untouched landscapes supporting diverse species and offering a place of respite from the hustle and bustle of everyday life. We are fortunate to live in a state with such a varied landscape and wide range of nature-based recreational opportunities for individuals from all walks of life. We support increasing opportunities for people to enjoy nature and believe it is imperative to balance public recreation with the needs of the natural world. The decisions made in the coming weeks will have serious implications for the future of land conservation and Florida’s protected lands.

Changes proposed by the Florida Department of Environmental Protection include adding golf courses, pickleball courts, disc golf courses, park lodges – up to 350 rooms, glamping sites, cabins and more.

Those interested in providing feedback on proposed changes are encouraged to attend a public meeting or submit an email comment. The Florida Department of Environmental Protection’s Division of Recreation and Parks will accept email comments for 48 hours after the conclusion of the public comment sessions.

Below are the original locations of the statewide public meetings taking place (editor’s note: the state is taking suggestions on larger venues here for rescheduled meetings the week of Sept. 2).

• Hillsborough River State Park, Jimmie B. Keel Regional Library, 2902 W. Bearss Ave., Tampa.
• Honeymoon Island State Park, The District, 11141 U.S. 19 N, Clearwater.
• Oleta River State Park, Florida International University, Biscayne Bay campus, Kovens Conference Center, 3000 NE 151 Street North, Miami.
• Jonathan Dickinson State Park, The Flagler of Stuart, 201 SW Flagler Ave., River Room, Stuart.
• Dr. Von D. Mizell-Eula Johnson State Park, Downtown Event Center, 416 NE First St., Fort Lauderdale, Lecture Hall, Building C.
• Anastasia State Park, First Coast Technical College, The Character Counts Conference Center, Building C, 2980 Collins Ave., St. Augustine.
• Camp Helen State Park, Lyndell Conference Center, 423 Lyndell Lane, Panama City Beach.
• Topsail Hill Preserve State Park and Grayton Beach State Park, Watercolor Inn & Resort, Watercolor Lake House, 34 Goldenrod Circle, Santa Rosa Beach.

Email addresses for comments along with additional information about the events can be found at floridadep.gov/events.

We thank those invested in protecting wild Florida and ensuring our State remains sustainable and thriving for generations to come.

Christine P. Johnson is president of Conservation Foundation of the Gulf Coast, a regional land trust working to protect land and water in Southwest Florida for the benefit of people and nature.

Tom Kay is executive director of Alachua Conservation Trust, a regional land trust protecting the natural, historic, scenic, and recreational resources in and around North Central Florida.