Good news about the Sarasota real estate market

I have been following the number of homes and condos for sale in the Sarasota market. Although, the number of properties for sale has not declined it also has not increased much since April 29th either. My guess is that a good portion of the properties up for sale are people trying to take profits. On April 29th the Sarasota market had 4,307 single family homes and 3,123 condos for sale. Today we have 4,509 homes and 3,059 condos for sale. I believe we have hit some sort of plateau in the number of properties for sale. In my humble opinion I think we will hover around these numbers for awhile and then drop as people change their mind about selling or drop their prices to current market levels. As the market stabilizes more I think buyers will feel more comfortable and hop off the fence. This combination will lead to a more balanced and healthy real estate market.