Sarasota-Bradenton's 45 percent sales decline in March leads the state.

Housing market struggles for balance

Real estate brokers sold 45 percent fewer single-family homes in the Sarasota-Bradenton area during March than they did a year ago, as the residential market struggled to regain equilibrium in the slowdown that began last summer.

The metropolitan area's percentage decline was the highest in the state, which saw an overall 22 percent drop in closings compared with the roll-out-the-barrel days of March 2005.

Read the rest of the Sarasota Herald article here:
http://www.sarasotaherald.com/apps/pbcs.dll/article?AID=/20060426/BUSINESS/604260676

I don't think this comes to much of a surprise to anyone paying attention to the Sarasota real estate market. I agree that prices have declined from last summer. I believe this to be a great time to buy. With more properties going off the market than coming on I believe we are heading towards a more balanced market. There are still plenty of sellers out there who have not accepted the fact that the market has changed and have yet to adjust their price. These sellers will need to be patient and wait for the market to catch up to their price or take their properties off the market.