The temps are on the rise. But so are home sales! In Pinellas county the rise in townhome/condo and single family home sales are the highest they have been since 2005. Year-by-year, the increase of sales for single-family homes have increased annually by 28.8%. Townhomes/condos have seen an increase year-by-year by 24.0%. Those numbers are astounding for the current economic climate. Sales are hot, hot, hot right now. But insiders give us a clearer picture of the market. John Tuccillo, chief economist for Florida Realtors was quoted in Pinellas Realtor Organization, "If there is concern in (Florida's) market, it lies in the upper middle price ranges, where inventories and time on the market are up even though sales growth is strong,''. Experts note that with stricter lending practices and slower rising prices today’s climate is quite different from 2005. “According to the National Association of Realtors, inventory climbed about 5% to 2 million existing homes available for sale. While that’s up 2% from last year, it’s still just a 4.6-month supply of houses at the current sales pace. A six-month supply is considered a healthy market. Here in Pinellas County, March 2015 showed a 4.2 month home supply, which is actually down 12.7% from March 2014, when the county had a 4.8 month supply of inventory.”http://pinellasrealtor.org/
Today’s real estate market is very competitive. Buyers with a pre-approval have an edge in getting the property they desire. Supply is low as are interest rates. Clients have to be prepared in these times. Our agents are very good about educating their clients about the reality of the real estate game today. OUTSTANDING AGENTS. OUTSTANDING RESULTS.