SRQ DAILY Dec 23, 2024
Monday Business Edition
"We reside in downtown Sarasota, and we needed a safe and secure, high and dry location, with impact-rated construction for our own collection. "
November saw a distinct slowdown in the real estate market in Sarasota and Manatee counties.
The number of sales and median sales price of single-family homes in Sarasota dropped from $500,000 in November 2023 to $490,000 last month in Sarasota County, and from almost $486,000 to $430,000 in Manatee over the same time. Condo and townhome units similar saw a drop in Manatee from nearly $352,000 to under $310,000, while Sarasota saw a dip from almost $548,000 to under $374,000. The North Port-Sarasota-Bradenton market as a whole saw more than 1,091 home sales and 492 condo sales in November last year, but just 1,074 home sales and 399 condo sales in November 2024.
Meanwhile the time to contract in the market climbed from 24 days to 47 days for homes and from 21 days to 65 days for condos.
Real estate professionals said the data showed a balancing of the market, not a collapse. But a years-long boom after the pandemic appears to have calmed. Typically, a 60month inventory is considered a balanced market. Sarasota right now has a 6.3-month supply of condos and Manatee has a 6.6-month inventory, right in the neighborhood of a perfect balance. In the home market, both counties technically remain sellers’ markets, with Sarasota reporting a 5.9-month inventory and Manatee county only a 3.9-month supply of homes for current demand. In all categories, that’s an increase in supply but not an excess.
"The current trends show the market is finding its footing after the pandemic-driven surge,” said Tony Barrett, president of the Realtor Association for 2024 and also the broker-owner of Barrett Realty. “We're seeing a return to more balanced conditions, similar to what we experienced before 2020, where buyers and sellers had equal opportunities to navigate the market successfully."
The Association said while some may be concerned by the shift in the market, it tracks with the steady sales patterns seen before 2020.
Graphic courtesy RASM.
The Manatee County Clerk of the Circuit Court & Comptroller’s Office will be closed on Tuesday, December 24, Wednesday, December 25, and Wednesday, January 1, in observance of the Christmas and New Year holidays. Online services remain accessible 24/7 at https://www.manateeclerk.com/ or through the Clerk & Comptroller’s mobile app, available for download in the Apple App Store and Google Play Store.
Hoyt Architects is proud to announce the appointment of Senior Project Manager George Scarfe, Assoc. AIA, as the firm’s newest partner. A pivotal member of Hoyt Architects since 2013, Scarfe manages a wide range of projects varying in scale and complexity, from small-scale retail properties and simple renovations to high-rise skyscrapers. He has been instrumental to the design of Hoyt Architects’ projects including One Park Sarasota, Sage Longboat Key, The Mark, Longboat Key Town Center and Karon Family Pavilion, Lofts on Lemon, Aloft Sarasota, One Palm, and The Sarasota Modern. Scarfe, a U.S. Navy veteran with deployments to the coasts of Somalia, Bosnia and Haiti, began his education in Drafting and Design in 2000 through the GI Bill. He later earned a Master of Architecture degree from the University of South Florida in 2011 and joined Hoyt Architects following his Architectural Experience Program with the National Council of Architectural Registration Boards (NCARB).
Pictured: George Scarfe, Assoc. Photo courtesy of Hoyt Architects.
Michael Saunders & Company is pleased to announce Cathy McCann as the new Property Manager for its commercial properties. She will assume her new role following Bob Smith's retirement at the end of the year. With a distinguished career spanning nearly 25 years in commercial property management, Cathy brings extensive expertise and a track record of success to the position. Cathy’s impressive career includes managing multi-tenant commercial properties and complex portfolios across multiple states. Most recently, she served as Regional Property Manager at Gator Investments and Development, overseeing approximately 1.5 million square feet of retail space in Florida and five additional centers in Minnesota and Nevada. For more information or questions about this transition, please contact Robert Perry, Director, MSC Commercial.
HCA Florida Englewood Hospital recently celebrated the completion of a $4.4 million project for a new suite featuring a state-of-the-art magnetic resonance imaging (MRI) machine and an upgraded nuclear medicine camera. Colleagues from all over the hospital joined the Imaging team, senior leaders and construction partners for a ribbon cutting, tours and training on important safety measures.
We’re delighted to announce that Halflants + Pichette has been honored once again at the AIA Tampa Bay’s "Celebrate Design" awards gala, held last Thursday at The Coliseum in St. Pete. Our Oriole Residence project received a prestigious design award, a testament to our team’s dedication to creating spaces that marry elegance, innovation, and harmony with Florida’s landscape. The evening brought together 250 members of the architecture, engineering, and construction (AEC) community to celebrate exceptional contributions in design, with Halflants + Pichette standing proudly among the recognized firms. We’re grateful to AIA Tampa Bay and our colleagues for the recognition and look forward to continuing to create meaningful, transformative spaces for our clients and community.
Car Collective, an exclusive garage condominium community located at 8100 Ciboney Court, Sarasota, FL, is rapidly gaining popularity among car collectors and enthusiasts. With construction set to complete in January 2025, the development has already seen significant sales success, with 7 of the 11 units sold, highlighting the strong demand for secure, customizable storage for high-value assets. “We reside in downtown Sarasota, and we needed a safe and secure, high and dry location, with impact-rated construction for our own collection. We also desired to create a small community of like-minded enthusiasts. Car Collective has covered everything on our list. At over 38' above sea level, concrete construction and impact windows and doors, and seven garages sold so far, we are excited to be completing construction in January” said Dr. Scott Elsbree, developer of Car Collective.
With a focus on educational opportunities through comics education, Bat City Comic Professionals share the joys of reading with Bradenton, December 2024.
Connect with local business owners at every Thursday at Oscura. Lets Connect is a community of collaborative business professionals from the Manatee and Sarasota County areas. RSVP on Eventbrite to attend, admission is free.
Since we opened in January, SRQ is getting to know us for our hand-tossed & crafted Pie's, Calzones, Sammies & Salads + our tasty beverages. Now you can join your buddies for what some call 'the most wonderful time of the year' - FOOTBALL SEASON! Drop in when you're strolling on Main to catch your team or join your buddies for Pie On Main's Game Watching parties, featuring Happy Hours from 4-7:00 Daily, plus our Special Sub of the Day and extensive selection of Domestic and craft taps. Ask your friendly barkeep about our Tuesday Karaoke or our sister restaurant, 3.14 Pi in Siesta Village. Convenient parking in our lot on First Street.
Pie on Main, 1507 Main St, Sarasota, FL 34236
On Saturday, January 18, 2025 from 12:00-2:00 pm, the community is invited to visit Sarasota Opera House for a wide variety of free activities and offerings. Visitors can enjoy art songs, ensembles, and arias sung throughout the opera house, a raffle, backstage tours, wig and makeup demonstrations, a display of select pieces from our extensive collection of over 50,000 historic opera costumes, special ticket offers, and complementary refreshments.
Sarasota Opera House, 61 N Pineapple Ave, Sarasota FL 34236
Whether they're Naughty or Nice, the Watershed Hospitality family of restaurants has the gift sure to please everyone on your Holiday list! From Nov. 21 - Jan. 2, when you purchase $50, get a $10 Bonus or a $20 Bonus when you purchase $100. Our GC's are good at all of our restaurants, Cask & Ale, Pie On Main, 3.14 Pi/Blase Martini Bar ...and SOON, when we cut the ribbon to welcome you to Lefty's Oyster & Seafood Bar.
Multiple Location
The Wellen Park Night Market returns the second Thursday of each month from 6-9pm offering an evening of shopping, live music and dining under the twinkling lights of Downtown Wellen. The Night Market features independent artists and makers specializing in art, jewelry, boutique fashion, home decor, bottle art, wood designs and specialty food items set up along Wellen Park Boulevard with 50 rotating vendors. Food items included rum cakes, desserts, lemonade, barbecue and vegan fare.
Wellen Park, 19745 Wellen Pk Blvd
Enjoy the extraordinary opportunity to experience the work of contemporary artist Shinique Smith in conversation with the collection of European art at The Ringling. Unfolding across six galleries of the Museum of Art, the exhibition creates a series of unique stories that together form an abstract narrative of the parade as a metaphor for life. Well known for her monumental sculptures created from an array of materials, including luxurious textiles, personal clothing, dyed fabrics, ribbon, and wood, and for her abstract paintings of calligraphy and collage, Smiths work in this exhibition speaks to various facets of the European artistic tradition, such as classical drapery and religious iconography, while foregrounding notions of Black femininity and the history of the circus. Learn more at ringling.org.
Experience some of the best food and flavors of the region with more than 100, and still growing, curated vendors. The Farmers Market at Lakewood Ranch has fast become a favorite weekly tradition for people from all over the region seeking farm-fresh produce, delicious prepared foods, and specialty items and gifts. Aside from all the goodies you can shop at the Farmers Market, find your flow in a free yoga class or have the kiddos get creative during weekly-hosted workshops. 1561 Lakefront Dr., Lakewood Ranch.
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