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Housing market locally continues to fall

MANATEE — While Florida’s housing market continues to go up, the local market keeps falling, a trade group reported today.

While sales of existing single-family homes rose 16 percent statewide in May, it fell by 10 percent in the Sarasota-Bradenton market, the Florida Association of Realtors reported.

Sarasota-Bradenton was among six Florida markets to see a sales decline in May compared to May 2008, the trade group said.

The local median sales price — the point where half sold for more, half for less — slipped to $156,600 last month, down 36 percent from the same month a year ago. The statewide drop averaged 29 percent, to $144,400.

Sarasota-Bradenton’s condominium market also kept going in reverse, with sales dropping 32 percent and the median price falling by 40 percent to $148,500, the association said. Statewide, condo sales rose 32 percent while prices fell 38 percent to $113,400.

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