🏠 Sarasota Housing Slowdown (And Why That's Good News)

Merry Christmas! With the holiday week, we went light on the events but still brought you some important updates on Sarasota life.

In today’s edition of the Sarasota Scoop:

• Update on the Sarasota Real Estate Market

• Fine Dining for a Special Occasion

• Find this dog a home!

• Last chance at some Christmas events

Lastly, we want to hear from you — make sure to vote in the poll at the end!

Thanks for reading,

Carson

📰 Local News

Sarasota Housing Market Shows Signs of Cooling in Late 2024

Sarasota's Real Estate Reality Check: Million-Dollar Deals Meet Market Cooling

While ultra-luxury homes in Sarasota are flying off the market at unprecedented rates — with $5 million-plus properties seeing a stunning 90% surge in sales — the broader housing landscape tells a more nuanced story as 2024 draws to a close.

The post-pandemic buying frenzy that defined recent years has finally begun to settle, offering a much-needed breath of fresh air for would-be homeowners.

Median single-family home prices have dipped to $449,945, marking a 9.1% decrease from last year's peaks. Meanwhile, the once-frantic pace of sales has moderated, with homes now spending a median of 98 days on the market — a 40% increase from 2023.

This cooling trend isn't just about prices and patience. Inventory levels have surged 17.4% compared to last year, giving buyers something they haven't seen in years: choices.

Single-family homes now boast 4.6 months of inventory, with active listings reaching 5,662 homes across the North Port-Sarasota-Bradenton region.

The shifting dynamics are evident in sales volumes, with closed sales down 1.6% while new pending sales have actually increased 24.9% year-over-year.

Yet, amid this broader cooldown, Sarasota's allure remains undeniable — particularly for luxury buyers, who continue to snap up high-end properties at record rates.

Higher mortgage rates, inflation concerns, and affordability challenges have all played their part in this market reset.

However, real estate experts see these changes as signs of a healthier, more sustainable market emerging from the extremes of recent years. For buyers, this means more negotiating power and time to make decisions. For sellers, it signals a need to adjust expectations in line with the new reality.

As the market finds its footing, one thing remains clear: Sarasota's enduring appeal as a premier Florida destination continues to underpin its real estate values, suggesting this cooling trend represents less of a downturn and more of a return to normalcy.

🔦 Restaurant Spotlights — Fine Dining

When you need the perfect spot to celebrate a special occasion, Sarasota offers some exceptional options.

Consider a few of our favorites highlighted below:

Siesta Key Summer House
📍 149 Avenida Messina, Siesta Key
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🌟 Celebrate with: Premium steaks, fresh seafood, and a sophisticated, intimate ambiance perfect for special occasions.

Dry Dock Waterfront Grill
📍 412 Gulf of Mexico Dr, Longboat Key
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🌟 Celebrate with: Fresh seafood, breathtaking waterfront views, and a relaxed yet elegant atmosphere.

Shore Longboat Key
📍 800 Broadway St, Longboat Key
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🌟 Celebrate with: Coastal cuisine, open-air dining, and stylish decor that elevate any celebration.

🐶 Adopt Bagera! This dog needs a home

Bagera is hoping to find her forever family before the end of the year. She’s waiting at Nate's Honor Animal Rescue Center.

Please share with family & friends that might be interested!

Friday, December 27th

Christmas at Creator's Farm and Garden

📍 Creator's Farm and Garden, Venice

🕦 5pm

Experience thousands of lights throughout 5 acres of gardens, live Christmas music with Joey O, fun Florida snow and laser lights, s'mores by the fire, children's games with prizes, and other fun activities — details

Tour of Lights | SRQ Trolley

📍 4041 Cattlemen Rd, Sarasota

🕦 Multiple times all weekend

The Holiday Tour of Lights has become a MUST when you’re in the holiday spirits, so get ready to sit back, relax, sip on your favorite beverage (you provide), and listen to your favorite holiday music, while enjoying what Sarasota’s residents have created — details

Lights in Bloom

📍 Selby Botanical Gardens, Sarasota

🕦 5:30pm

Lights in Bloom features more than two million lights illuminating the gardens and walkways of the Downtown Sarasota campus — details 

Sailor Circus: Diamond Jubilee!

📍 Sailor Circus, Sarasota

🕦 7pm

A time honored tradition in its 75th year, featuring Sailor Circus Academy students — details

Saturday, December 28th

Sarasota Farmers Market

📍Downtown Sarasota, Main St & Lemon Avenue

🕦 7am - 1pm

Support local brands, explore interesting crafts, and grab fresh produce at the weekly farmer’s market — details

Music Club

📍 Selby Library, Sarasota

🕦 12pm

Jam and learn with your teen teacher, Anni Szantosi, and her numerous instruments — details

Coding Club

📍 Selby Library, Sarasota

🕦 2pm

Meet other coders and work on your coding project. Share with others and troubleshoot as a team — details

Tales Under the Tree

📍 Bishop Museum of Science and Nature, Bradenton

🕦 2pm

Learning specialists feature a book reading with a different science or nature theme, followed by a related activity such as a craft, game, song, body movements, or biofacts — details

Movies Under the Stars

📍 the Green at UTC

🕦 7pm

Come catch an outdoor showing of Eight Crazy Nights at UTC — details

Sunday, December 29th

Siesta Key Farmers Market

📍 5211 Ocean Blvd, Siesta Key

🕦 9am - 2pm

Shop local! Come check out local vendors - local rum, fresh produce, handmade soap, and more

PLAN AHEAD

Downtown Sarasota Pineapple Drop

📍 Lemon Avenue and Main Street in Downtown Sarasota

🕦 1pm - 1am

The iconic Pineapple Drop at midnight, where a giant, glowing pineapple will descend to ring in the new year — details 

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