Sarasota Florida Real Estate News

Sarasota Real Estate Residential Home Prices Dropping Sharply

Posted June 17, 2007

    While the sales of existing homes nationwide saw their first gain in eight months last month, sales throughout Florida remain much lower than where they were last year. Florida buyers continue to wait out the uncertain real estate market conditions particularly in the Sarasota real estate market

    The Sarasota-Bradenton market has seen prices plunge nearly $65,000 in the past year, providing an opportunity for some real bargain hunting.

    The median existing home price in the Sarasota real estate market, including Bradenton, fell to $270,000 range from $340,000 a year ago.  But falling prices haven't sent buyers banging on doors just yet. Home sales are 24% lower than last year.

    Sarasota area condos continued a steeper descent in both sales and prices, with sales down 51 percent from last October and prices down nearly $80,000. making such purchases an even better deal for those looking in the Sarasota Florida market now.