It is Spring and my self and my colleges at my office are busier than we have been in a long time. Which is refreshing. To give you an idea how much the market is turned around here I took a listing for a beautiful 2 bed 2 bath condo in the Old North East of St. Petersburg on a Tuesday. Wednesday I had 8 showings and by Wednesday evening I had 2 contracts in on it. I have also had several clients miss out on property due to multiple offer situations. One bank owned property that had been on the market 1,958 days finally went into foreclosure, the bank had it listed and in one week there were 8 offers on the property. My client missed that one too. But he and his wife have an accepted contract on the next home they made an offer on!
To give you an idea of how the market is doing in actual numbers for Real Estate sales Pinellas County:
Single Family Homes (SFH)
Listings in Feb. 2011 6,153 Listings in Feb 2012 3,718 – that is a 39.6% drop in inventory.
Sales in Feb. 2011 629 units, Sales in Feb 2012 638.
Mean Price of in Feb. 2011 was $159,200 in Feb 2012 $174,900
with home of 4 or more bedrooms the Mean Price Feb 2011 $353,800 In Feb 2012 $337,200.
Listings in Feb 2011 5,073 in Feb 2012 3,721 decline of 26.7%
Unit Sales Feb 2011 452, Feb 2012 465
Mean Price Feb 2011 $136,600, Feb 2012 $143,4.8% increase
When inventory goes down, price goes up. Make the move now, before you get priced out of your dream, vacation, first or second home or condo!
Call me to help 702-595-6727