How's the Sarasota and Venice real estate market?

Real estate, like most supply and demand markets,is cyclical.  Right now we are seeing the overall market swing back to more of a buyer's market.

Sellers were encouraged for months and months that the time to sell is now, because there were more buyers than homes for sale.  This mentality was exacerbated by the fact that 50 to 100 new agents are joining our Sarasota and Manatee Realtor association every month.  What easier way to get a listing than for new agents to oversell home values?

My anecdotal experience in working with more buyers than sellers is that sellers are overpricing, and buyers are resisting this.  As always, homes priced correctly are selling fairly quickly.  A sure sign that sellers and their agents are starting to panic is an increase in open houses.


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