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.

Condos

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

This entry was posted on Wednesday, April 4th, 2012 at 7:46 pm and is filed under Articles, Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

I listen to the new and read the papers and I am still hearing that the Real Estate market is not doing well.  I am very happy to report that here in Treasure Island, St Pete Beach, and the greater Tampa Bay area is picking up.  Our statistics from our Pinellas County Board of Realtors has inventory of SFH’s down 1,004 this January 2011 to January 2012 and condos down over 800 from last year.  Sales are in both categories are both inching up in price as well.  Personally, I am busy with a beautiful listing of 90 feet of waterfront 3/3 home on the Boca Ciega Bay and newly remodeled home in St Petersburg.  As for buyers mine are abundant and I am actively looking for a large beach front condo, a SFH in Largo area for a nice young family, waterfront homes,  and some investors.  I am not getting sucked into the media hype.

This entry was posted on Tuesday, February 28th, 2012 at 10:28 pm and is filed under Articles, Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.