March Statistics Are In - What A Difference A Month Makes!

The March 2010 Market Statistics have just been posted for Pinellas County and they have been added to our website. As you see from month to month, the Absorption Rate (or Inventory Turnover) gives us the first blush overview... and take a look at this chart! The Absorption Rate is determined by dividing the number of units sold during the month by the number of active listings in the Multiple Listing Service.

Click On The Chart For A Clear View:
What a difference a month makes in Pinellas County!!! In March, the Absorption Rate on Single Family Homes jumped to 11.5% from March '09 7.7%, and Condos went right along at 9.5% over March '09 4.9%!

The median prices stabilized and actually began to move back up while sales results made a significant jump. Single Family Home sales improved 17.2% over March '09... with sales of 1667 homes. The median price of $138,500, although slightly down from March '09 $140,000... was significantly higher than Feb '10 at $130,000.

Condos made the most significant comeback with a 53.1% increase in sales over March '09... with sales of 1200 condos! The median price remained flat at $110,000.

As we continue to watch our depressed market rebound, the telltale sign is how busy we have gotten! We are posting Hot Deals to our website frequently... and watching them get sold quickly.













The February Market Statistics have just been posted for Pinellas County and we have added them to our website. Personally, I always go first to the Absorption Rate (or Inventory Turnover) to catch a trend. The absorption percentages increasing reflects the market absorbing the inventory that is available. This is definitely a result of the median price. In Single Family Homes, the highest price level occurred in October of 2005 at $276,000. In February 2010, the median price of homes sold was $130,000. Condos reached their high level as well in October of 2005 at $215,000. In February. the median price was $110,000.The inventory has had to experience this decrease in value to stimulate the market back into activity. This is the point investors, and buyers in general, start to look hard at which depreciated properties have the best chance to appreciate on the upturn.