IS IT A BUYER"S MARKET?

Sarasota Housing Market Struggles
March 2005 compared to March 2006
Realtors Sold 45% fewer homes in March 2006 than in March 2005
Sarasota's 22% decline in closings was the highest in Florida
Values rose 5% in Florida but Sarasota-Bradenton's $321,400 median sales price showed a 6% decline from $340,667

Median price is the price where half the homes sold for more and half the homes sold for less. People buy as much home as they can afford so someone buying a $400,000 home today will land more home than they would have last year. Actual prices may have declined 10-20% over the past year.

Conclusion:With the current huge inventory of homes and rise in interest rates it's naturally going to take longer to sell and the price you are going to get may not be the one you envisioned.