Sarasota, FL housing market

Sarasota homes are now sitting on the market a median of 86 days, and that one number tells you almost everything about where this market stands. This is a slow market, and sellers no longer set the terms. The typical home value here is about three hundred ninety-seven thousand dollars, down roughly 5.6 percent over the past year, so the slide has been real, not just a pause. Meanwhile there are about two thousand five hundred homes for sale, with only around 560 new listings coming on, which means buyers have plenty to choose from and no reason to rush. About one in five listings has already taken a price cut. And look at the gap: the median asking price is near four hundred fifty thousand dollars while the typical value sits around three hundred ninety-seven thousand dollars. That spread is why homes linger. Overpriced listings sit, then cut, then sit some more. If you are selling in Sarasota right now, price to today's market from day one. Chasing last year's number will cost you months.