Northerners
looking to escape the cold and snow are traveling to Florida this winter. It is during this
time that our market generally sees an uptick in sales. Pinellas County’s real
estate market is currently considered to be stable. This continues to push
median sales prices higher. Distressed listings as a percentage of total
listings are slowly decreasing, this also indicates that most of the bargains
are starting to disappear, and is part of what is forcing prices higher.
Single
family homes sales from November 2011 to November 2012 increased 34.6% and the
total average sales price increased 10.06%. However, single family active
listings are down 30.75%. The lack of inventory is pushing the average sales
price higher, but Realtors® are struggling to find properties.
Condo sales are up 37.79% from November
2011 to November 2012 and have gradually increased over the past three months.
Edited from Source: Pinellas Realtor
Organization
