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Sarasota Real Estate Market Outperforms

April 25, 2007

Sarasota Real EstateWhile most of the nation is experiencing declines in real estate sales numbers, the Sarasota, Bradenton area has posted increases for the month of March.  The total number of sales in Sarasota was up 16% from March 2006, though the median home price declined 9% to $291,500.  The condominium market also saw improved sales numbers in March of this year, posting a 7% increase over March of 2006.  Nationally, sales numbers are down 13 percent.  In Florida sales were down an additional 15 percent for a total 28 percent decrease in sales from last March.  Just a few miles to the south, the markets of Northport and Charlotte county experienced a 25 percent decrease in sales volume and a 14% drop in it’s median price to $193,000.  It is likely that those markets which are characterised by a more moderately priced homes were effected by recent changes in the lending policies.   While prices have declined since the highs of 2005, the good news is that the new lower prices are begining to bring buyers off the sidelines.

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