Report from CNN Money (click here) show Pinellas county with a -3% drop in property values over the 1st quarter of 2012. The 2nd part of this report show a huge price increase expected in the follow 4 quarters. We are already seeing a tremendous amount of activity in St. Petersburg and the beaches so far this year, including multiple offers and lots of cash sales. I’m sure the interest rates are playing a big part with sub 4% rates.
If you look at my last blog post you can see the inventory levels and the number of sales of both single family and condos on the rise. Check back with us in Mid Feb for Jan 2012’s numbers.