Friday, January 25, 2013

Prices Up. Inventory Down. Have You Missed The Boat? Not (Yet) At BeachWay!

Inventory is still low and prices have inched higher. Many investors who have been sitting back waiting for the best possible deal may have missed the boat. These investors will be starting to feel the pressure to buy before prices increase further.

Single family active listings are down 27.19% from December of 2011, but the average sales price for single family active listings is up 15.72%. Active condo listings are down 20.02% from December 2011, but the average sales price for active condo listings is up 8.7%.

The lack of inventory, low interest rates and slowly rising prices are set to create the perfect storm. 
Source: Pinellas Realtor Organization