June 2024 Newsletter

June 2024 Newsletter

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Buyers were waiting for a market correction following pandemic-era home grabs and escalating prices—but as of today, it hasn’t yet arrived. Inventory is up compared to the last couple of years, but it’s still low overall. Even with more price reductions, home values are still growing on an annual basis, as they do nearly every year in the housing market. According to the Federal Housing Finance Agency (FHFA), home prices in Florida went up over 6% over the last year. For buyers, more realistic asking prices mean you enter the market with more confidence, knowing prices are stabilizing rather than continuing to skyrocket. For sellers, understanding the need to adjust your asking price can lead to faster sales and fewer price negotiations. Setting a realistic price from the start can attract more serious buyers and lead to smoother transactions.

 

Another positive sign for all home owners is AM Best, the largest credit rating agency in the world specializing in the insurance industry, announced it is “cautiously optimistic” about the Florida insurance market. The Florida Office of Insurance Regulation reports that at least eight carriers had filed for rate decreases in 2024, while 10 had filed to keep rates flat. It was not clear how many of the more than 7.4 million residential policies in the state would be affected by the decreases, but clearly things are moving in the right direction.

 

We’re experts in the Sarasota luxury real estate market and are available to share our wealth of knowledge, experience, and personalized approach to assure you of a successful real estate transaction. Thank you for your trust, and your referrals.

BRUCE MYER GROUP ACTIVE LISTINGS

WESTON POINTE – $3,495,000

617 WESTON POINT CT | LONGBOAT KEY, FL

4BR/5BA | 4,395 SF | CASITA | WATERFRONT

ISLANDER CLUB – $650,000

2295 GULF OF MEXICO DR., #64-S | LONGBOAT KEY, FL

2BR/2BA | 1,235 SF | 6TH FLOOR | BAY & GOLF COURSE VIEWS

COUNTRY CLUB SHORES – $997,000

1180 BOGEY LANE | LONGBOAT KEY, FL

2BR+DEN/2BA | 2,180 SF | FURNISHED | LARGE FENCED YARD

ISLANDS WEST – $1,299,000

2525 GULF OF MEXICO DR., #11B | LONGBOAT KEY, FL

2BR/2BA | 1,491 SF | GULF FRONT

THE BAYOU – $1,575,000

3221 BAYOU WAY | LONGBOAT KEY, FL

3BR/3.5BA | 2,639 SF | SCREENED POOL & PATIO

LONGBOAT KEY TOWERS – $1,799,000

603 LONGBOAT CLUB RD., #1102N | LONGBOAT KEY, FL

2BR/2BA | 1,458 SF | GULF FRONT

BEACHPLACE III – $929,000

1065 GULF OF MEXICO DR., #10-402 | LONGBOAT KEY, FL

2BR/2BA | 1,392 SF | UPDATED & FURNISHED

FAIRWAY BAY – $699,000

1930 HARBOURSIDE DR., #111 | LONGBOAT KEY, FL

2BR/2BA | 1,442 SF | CORNER LOCATION | 2 TERRACES

VIEW OUR ENTIRE GALLERY OF EXCLUSIVE LISTINGS ON OUR WEBSITE:

BRUCEMYER.COM

New Convention Center Considered…

Sarasota developers want to team up on a decade long effort to bring a right-sized convention center and adjacent hotel to Sarasota, and they are asking the Downtown Improvement District Board of Directors for help. The idea is to redevelop the south side of the block of Ringling Boulevard between Orange Avenue and Pine Place, the site currently occupied by the city-owned Federal Building and the U.S. Postal Service office and its vehicle maintenance yard. The federal building would remain and the new construction would occur on the post office property. The U.S. Postal Service is looking to relocate both the main office and the maintenance yard in separate locations, and that often when the federal government vacates property it is deeded to the host city. The pitch is that the city would retain ownership of the property and lease it to the partnership, which would build and operate the facilities..

Florida Highwaymen Exhibit Extended…

The Cultural Heritage exhibit in the City Hall atrium will be refreshed with 20-24 new Florida Highwaymen paintings on Thursday, June 27. “The Florida Highwaymen exhibit here at City Hall has been more successful than we could have ever imagined,” said Public Art Manager Mary Davis Wallace. “We’re thrilled to see how much our residents and visitors have enjoyed these beautifully captured views of the untouched Florida landscape and learned about the inspiring personal stories of these remarkably talented artists.” Along with refreshing the current artwork, exhibitor Lightle will hold a lecture and two education days with local schools in the fall. The exhibit is free and open to the public Monday–Friday 8 a.m. to 5 p.m..

CE

CELEBRATE INDEPENDENCE DAY

July 3

 Nathan Benderson Park’s Fireworks On The Lake, gates open at 5:00 pm, fireworks display around 9:00 pm. 

Prices per carload $25 to $55

July 4

The Anna Maria Island Privateers hold their Annual 4th of July Parade One of the largest Water Fight Parades, it will run from Coquina Beach through Holmes Beach and end at the City Pier Park in Anna Maria. Parade steps off at 10 a.m. sharp. Coquina Beach, Anna Maria Island,

 Freedom Fest on Longboat Key takes place at Bicentennial Park, next to Town Hall,

501 Bay Isles Road with a parade starting at 9:00 a.m.

 All American Cookout and Independence Day Celebration on the grounds of Selby Gardens. Celebrate the 4th of July at Selby’s bay front sanctuary. 5:30 p.m. – 9:30 p.m. Selby Gardens, 900 S. Palm Ave., Sarasota

Bayfront Fireworks Spectacular over Sarasota Bay. Part of the Suncoast Summer Fest, viewing is free from anywhere downtown including Bayfront Park and Island Park.

 Head over to The Westin Sarasota rooftop at 7:00 p.m. with views of downtown and dance

to the beats of the DJ, while enjoying a BBQ buffet. Tickets available on Eventbrite and they go fast.

 Spend the day at Perspective Rooftop Pool Bar, 1255 N. Palm Ave, Sarasota.

Doors open at 11:00 a.m., enjoy lunch, Cabana can be reserved, ending with a Fireworks night party. Get Tickets here

FOR THE LARGEST COLLECTION OF EXCLUSIVE LONGBOAT KEY PROPERTY VIDEOS

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The Bayou

3221 Bayou Way | Longboat Key, FL

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Longboat Key Towers

2525 Longboat Club Rd., #11B

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