Local Realtors say the number of homes for sale in the area are about equal to the demand for homes in a six month period. That’s an economic condition known as market equilibrium, and is considered a sign of a stable housing market. Since the end of 2010, the number of residential properties listed in Sarasota has fallen 25%. The median price of single-family homes in the market sold in September rose about 4% from the previous year. That’s all related to homes worth half a million dollars or less. Realtors say the market remains overloaded with million-dollar-plus homes.
