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Tag Archives: market data for Pinellas County

MLS sales date for Pinellas County June 2011

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The June 2011 housing stats are now available in Pinellas County by clicking the link below.

Some good trends are starting to form in Pinellas, the number of single family homes available fell to 4655 in June, the number of sales were up slightly from 754 in May to 786, which is slightly lower than the numbers in 2010, sales in June 2010 were 802 units. The median home sales price was up from May 2010 now at $132,100 but it’s still lower than 2010 pricing by -$8.8%.

For full details click on the link below.

June MLS stats 2011 Click to view PFD

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December 2009 MLS Stats for Pinellas County FL

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Lot’s of great info here! Take a look at the number of active homes on the market today compared to the past couple of years. The median home price is also on the rise. If we see the unemployment rate go down we could see a much faster recovery in Pinellas County. The number of bank owned homes is also on the way down! Does this mean the end of the great deals? I don’t think so. I’ve seen some great deals in the past few weeks! Like mutiple 3 & 4 bed, pool homes in Clearwater for under $130,000!

Click on the links below and view the pdf. files.

Pinellas December 2009 All Reports: “Condo’s & Single Family”

November 09 monthly foreclosure &short sales report

You still have time to negotiate and buy a “Short Sale” property before the $8,000 first time home buyer tax credit and the $6,500 move up credit runs out! But don’t delay because what I experienced last year was at about 60 days before the end of the tax credit sellers of non “short sale” homes got a higher sold price to list price percentage because they negotiated harder with buyers because they knew that they had the only homes buyers could close on and still get the credit! The morale of the story here is if you want negotiating power, start early.

Have questions? Call or Email me

Florida’s existing home, condo sales up in October 2009

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ORLANDO, Fla. – Nov. 23, 2009 – Florida’s existing home sales rose in October, marking 14 months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®. October’s statewide sales also increased over sales activity in September in both the existing home and existing condominium markets.

Existing home sales rose 45 percent last month with a total of 15,160 homes sold statewide compared to 10,444 homes sold in October 2008, according to Florida Realtors. Statewide existing home sales last month increased 5.1 percent over statewide sales activity in September.

Florida Realtors also reported an 82 percent increase in statewide sales of existing condos in October compared to the previous year’s sales figure; statewide existing condo sales last month rose 6.1 percent over the total units sold in September.

All of Florida’s metropolitan statistical areas (MSAs) reported increased existing home sales and higher condo sales in October. A majority of the state’s MSAs have reported increased sales for 16 consecutive months.

Florida’s median sales price for existing homes last month was $140,300; a year ago, it was $169,700 for a 17 percent decrease. Housing industry analysts with the National Association of Realtors® (NAR) note that sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes. The median is the midpoint; half the homes sold for more, half for less.

The national median sales price for existing single-family homes in September 2009 was $174,900, down 8.1 percent from a year earlier, according to NAR. In California, the statewide median resales price was $296,090 in September; in Massachusetts, it was $290,000; in Maryland, it was $261,718; and in New York, it was $213,900.

According to NAR’s latest industry outlook, the housing market is continuing its positive momentum. “We’re getting early indications of price stabilization, but we need a steady supply of qualified buyers to meaningfully bring inventories down and return us to a period of normal, steady price growth,” said NAR Chief Economist Lawrence Yun. “That, in turn, would help fully remove consumer fears, which would then revive the broader economy.”

In Florida’s year-to-year comparison for condos, 5,398 units sold statewide last month compared to 2,958 units in October 2008 for an 82 percent increase. The statewide existing condo median sales price last month was $105,200; in October 2008 it was $147,900 for a 29 percent decrease. The national median existing condo price was $175,100 in September 2009, according to NAR.

Interest rates for a 30-year fixed-rate mortgage averaged 4.95 percent last month, a significant drop from the average rate of 6.20 percent in October 2008, according to Freddie Mac. Florida Realtors’ sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.

Among the state’s smaller markets, the Gainesville MSA reported a total of 172 homes sold in October compared to 130 homes a year earlier for a 32 percent increase. The market’s existing home median sales price last month was $156,700; a year ago it was $173,300 for a 10 percent decrease. A total of 22 condos sold in the MSA in October, up 22 percent over the 18 units sold in October 2008. The existing condo median price last month was $116,700; a year earlier, it was $133,300 for a 12 percent decrease.

New U.S. home sales rise 0.7 percent in August

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WASHINGTON (AP) – Sept. 25, 2009 – New U.S. home sales posted a tepid 0.7 percent increase last month, missing Wall Street expectations and providing more evidence that the housing market recovery remains tentative.

The Commerce Department said Friday sales inched up to a seasonally adjusted annual rate of 429,000 from a downwardly revised 426,000 in July. Economists surveyed by Thomson Reuters had expected a pace of 440,000.

While it was the fifth straight increase and the strongest report in 11 months, sales were 4.3 percent lower than the same month last year. Sales have risen 30 percent from the bottom in January, but are off about 70 percent from the peak of four years ago.

The report was the second straight disappointing sign for the U.S. housing market, which is struggling to emerge from the most severe bust in generations. On Thursday, the National Association of Realtors said sales of previously occupied homes, which make up the bulk of the market, dipped 2.7 percent last month.

While August’s housing reports have been disappointing, “we believe both remain on an upward trend,” wrote David Resler, chief economist with Nomura Securities.

Builders continue to make severe cuts in prices to attract buyers. The median sales price of $195,200 was off 11.7 percent from $221,000 a year earlier, and 9.5 percent below July’s level of $215,600. That was the largest monthly drop on records dating to 1963.

There were 262,000 new homes for sale at the end of August, down more than 3 percent from July and the lowest in nearly 17 years. At the current sales pace, that represents 7.3 months of supply – the smallest amount since early 2007. The decline means builders have scaled back construction to the point where supply and demand are coming into balance.

Still, it’s taking more than a year to sell the homes on the market.

“No one ever said that the homebuilders were breaking out the bubbly and party hats and doing the cha-cha around town,” wrote Jennifer Lee, economist with BMO Capital Markets.

Buyers, meanwhile, are rushing to take advantage of a federal tax credit that covers 10 percent of the home price, or up to $8,000 for first-time owners. Home sales must be completed by the end of November for buyers to qualify. Builders and real estate agents are pressing Congress for that credit to be extended.

Sales varied dramatically around the country. The best performance was in the West, where sales rose more than 12 percent, and the worst was in the Northeast, where sales sank more than 16 percent. They were unchanged in the South, and down nearly 6 percent in the Midwest.

Meanwhile, KB Home posted a smaller third-quarter loss of $66 million on Friday as new home orders increased and the builder cut costs. Though the results missed analysts’ expectations, KB Home said its new orders jumped 62 percent in the third quarter from the year before, with every region showing annual growth.

And fewer homebuyers backed out. The company’s cancellation rate dropped to 27 percent during the quarter, compared with 51 percent a year ago.