Sales Rise. Supply of Unsold Condos Falls to Low Level.

As existing home sales have risen in recent months and the supply dwindles, the overall inventory of condos for sale in Tampa Bay has sunk to levels not seen for years. The lower the supply, the stronger the market.

Pinellas County has less than an eight month supply of unsold condos, meaning it would take about eight months to sell the condos currently on the market.

Pinellas County sales jumped from 4,956 in 2010 to 5,893 in 2011, nearly a 19 percent increase.

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Source: Tampa Bay Times 2/14/12

Builders' optimism grows

Increased interest by potential buyers left U.S. home builders more optimistic about the housing market in January for the fourth straight month. The National Association of Home Builders/ Wells Fargo builder sentiment index rose to the highest level since June 2007, And, for just the third time the index has been at 20 or above in two years.

Source: Tampa Bay Times 1/19/12

Pinellas County Condo Sales Climb 25 Percent in November

Overall residential unit sales increased from 885 to 1059, or 20% from November 2010 to November 2011. The median sales price is up $14,000 year to date. Active listings decreased 30% from November 2010 to November 2011.

Condo sales from November 2010 to November 2011 are up nearly 25%. Listings decreased from 5,422 to 4,166, or down 23% year over year.

Source: Pinellas County Realtor Organization

Supply of Tampa Bay area homes for sale shrinks to 5-year low

By the numbers

8,316 Homes and condos listed for sale in Pinellas County (BeachWay condos are located in Pinellas).

37% Decrease from a year ago in those moderately priced homes.

The amount of Tampa Bay area real estate for sale has fallen to levels not seen for almost six years.

Pinellas County listings for homes and condos fell last month to 8,316, a level last seen in December 2005.

Real estate experts say a healthy inventory supply is six months, meaning it would take about six months to sell all the inventory that is currently on the market. The lower the supply, the stronger the market.

Pinellas' supply peaked at 18 months in March 2007. Today, Pinellas' supply is 7.1 months.

John Tucillo, chief economist at Florida Realtors, said the inventory of less expensive homes has shrunk, but the market is still saturated with higher-priced homes. "You're almost getting a bifurcated market," he said. "We're seeing shortages in some price ranges."

Moderately priced homes are disappearing from the market.

Listings decreased 37 percent in the $140,000 to $159,000 price range in Tampa Bay. The figure fell from 2,587 in September 2010 to 1,638 last month, according to data from local Realtor organizations.

Florida, among the hardest-hit when the housing market imploded, appears to be stabilizing, according to a report from the real-estate website Realtor.com.

Edited from article appearing in www.tampabay.com.

Clearwater, St. Pete Real Estate Stats for August 2011

The housing market in Pinellas County for August has been relatively calm. Listings across the board continue to fall, so there are fewer homes and condos for sale, and prices are rising, albeit slowly.

Residential properties in the areas of $30k- $40k, $100k to $140k and $200k to $250k continue to be the strongest market price segments in the county.

Overall, residential market sales increased 23.9%, from August 2010 to August 2011. Median sales price for the same time period is up $3,000 month over month.

Condo sales from August 2010 to August 2011 are up nearly 26%. The median sales price for condos continues to remain relatively unchanged month over month. For August, it is $94,200. Condo listings decreased 23.9% for the same time period.

Source: Pinellas Realtor Organization

Pinellas County Home Sales Continue to Climb

Existing homes sales continue to be a roller coaster in Tampa Bay during May.

Home sales rose 6 percent, from 2,590 in April to 2,749 in May.

Existing sales in March skyrocketed to the highest levels in five years, raising hope that the housing market was healing from the wounds left by a faltering economy and a deluge of foreclosures.

(source: St. Petersburg Times)

Florida's existing home sales surged in March

Florida's existing home sales surged in March, recording the single biggest month since late 2005.

Sales of Florida condos and homes jumped 36 percent last month surpassing the rest of the U.S., according to figures from the Florida Realtors and the National Association of Realtors.

The news comes on the heels of the Times reporting Wednesday that Tampa Bay's existing sales in Pasco, Pinellas and Hillsborough counties jumped nearly 32 percent, from 3,258 in February to 4,296 in March.

Median sale prices in the Tampa Bay area increased from February for homes and condos.

The housing market is rebounding, said Lawrence Yun, chief economist at the National Association of Realtors. "Existing home sales have risen in six of the past eight months, so we're clearly on a recovery path," he said.

Cash and investors are dominating the real estate market in the United States.

Cash accounted for a record share of 35 percent of sales in March. The cash rates are even higher in several bay area counties. So far in 2011, 59 percent of sales in Pasco were made with cash. Pinellas logged 66 percent.

In Florida, single-family sales jumped 35 percent from February to March, with a median sales price of $126,300.

Condo sales exploded across the state, too. Sales rose 39 percent from 6,984 in February to 9,703 in March, and 24 percent from March 2010.

The worst of the real estate downfall may have passed, experts said.

Credit: St. Pete Times