Wow .... yeah, that is WAY too much for that car, IMO. I know I got a good deal, but I'll tell ya' how it went down for me .....
A year ago, I bought my 2nd SN95 for $3,500. It's a '94 opal frost GT (WJ: not so common paint code). 5-speed. All black interior (perf. cond.) '97 Cobra wheels. Almost all the mods listed below (not really that many). Cobra R hood. Sunroof (aftermarket for these cars). The body had a good 150,000 miles, but it had a fresh 306 under the hood. Days later (after buying) , I consulted a couple of machine shops that were near our area. One of the guys CONFIRMED that he did the work on this car's engine. Car had a bad clutch when I got it (only fault). $200 & 1 week later, the car ran like brand new & REALLY good.
The first one I had (chrome yellow '95) I paid $8,000 for. I learned my lesson on that one .... so I don't want anyone else to make the same mistake.
My point is .... if you look around & talk to people, you WILL find a good deal on one somewhere. Luckily, I only had to travel 30 minutes to the guys house to pick it up. Talk this guy down ... alot ..... if you want THAT car.