July 2011 Market Statistics for Pinellas County in Tampa Bay are in and now posted on our website. The chart at left tracks the Absorption Rate by month as it compares to 2008, 2009 and 2010. In the event you are not aware, this is determined by dividing the total number of units sold during the month by the number of listing in the MLS (Multiple Listing Service).
Take a look at the chart comparisons for inventory versus sales and it becomes very clear what is happening in our area. Inventory of both single family homes and condos are at a level not seen since 2005! Yet sales are accelerating. Even in the midst of national trends, there are location-specific areas on the rise. The waterfront Tampa Bay area with its beautiful beaches, temperate climate, and proximity to an international airport and seaport... plus location for 9 spring training National Baseball Leagues continues to draw new buyers, both foreign and domestic!
It is interesting to track the sales and listings by zip codes to uncover the desire and magic of owning waterfront property... and the possibility for dramatically reduced prices! Be prepared. Prices are starting to climb and some deals that hit the market are getting multiple offers on them within the first week.
The PURTEE Team is extremely knowledgeable about the Florida real estate market, and in particular the barrier islands of Tampa Bay. Contact us to learn how you can find your own piece of paradise at an affordable price today!
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