Pinellas Real Estate Sales May ‘09: On The Road to Recovery
July 7th, 2009 categories: Pinellas Market Statistics
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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Pinellas Real Estate Sales as of March 2009
May 11th, 2009 categories: Pinellas Market Statistics
As Pinellas Realtors, we know that we have challenges ahead. Yet, as we study the statistics here at the Pinellas Peach, the signs are becoming clearer with each passing month that we are in a slow recovery pattern, at least in terms of the absorption rate. In fact, within the Keller Williams Realty Palm Harbor Florida office, we’ve all felt a significant uptick in buyer activity (and truly appreciate those rare days off!). Want proof?
Units Sold: There are more Pinellas condos and Pinellas homes selling now than have since 2007. Single family home sales were up 19.3% year over year in March. Condo sales showed a 17% increase over March of last year. If we had our magic wand, we could tell you if this trend will hold.
Inventory: The number of Pinellas homes on the market continues to drop, and were at their lowest point since March of 2006 when we were still in a boom Pinellas Real Estate Market. The Tampa Tribune reported similar findings in April for all of Tampa Bay.
Absorption Rate (A/R): The Pinellas County Real Estate absorption rates are higher than they have been since a couple of years. Yes, folks, you can sell your Crystal Beach Florida homes if you want to!
Pinellas Homes and Declining Median Sales Prices: OK, every silver lining has it’s dark cloud. Prices are Read the rest of this entry »
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