Pinellas Real Estate Sales May ‘09: On The Road to Recovery
These Palm Harbor Realtors were once again pleased to see the latest sales numbers for Pinellas homes just released from the Pinellas Realtor Organization (PRO). The number of Pinellas condos and Pinellas homes actively on the market continues to decline at a good clip, whereas the total number of properties sold is up for the FOURTH month in a row. WOW!The absorption rate (A/R on the above chart) is the quick indicator that’s shown above that Tampa Bay Realtors use. As you’ll note, the absorption rate for single family home sales is higher than it was in August of 2006!
Note that the average sales price of Pinellas condos was up significantly from March 2009, which made no sense to us at first glace, because the condo sales prices we’re seeing are dropping like stones due to tough financing issues specific to condos (a topic for another day). But we dove much deeper into the stats (so much for watching that Boston Legal rerun tonight), and discovered that there was a huge surge in high-end condo sales between $400K and over $1M, which explains the delta. It’s going to be interesting to see if that trend continues, and we’ll keep you posted. So, if you’re ready to dive in and buy that $1M+ Clearwater Beach condo, the getting is good.
By the way, click the “Submit Your E-Mail” button below to subscribe to The Pinellas Peach. We’ve got some really interesting sales stats for Pinellas Foreclosures vs. Pinellas Short Sales vs. “regular” sales coming your way as fast as we can write ‘em!
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December 10, 2010 at 11:51 am, Brad - Home Loan Artist said:
I love your detailed stats….really breaks it down. Good to see your area is recovering.