As realtors, we have seen first hand that March brought about a buying frenzy and a continuation of the decline in inventory. The market statistics that were just released by the Pinellas Realtor Organization gave full credence to what we inherently knew. Take a look at the chart on the left... the Absorption Rate is determined by dividing the number of units sold during the month by the total number of listings in the MLS.March saw a HUGE jump in the numbers and basically it is saying that 1 in 5 listings was sold during the month! Another important factor is that out of those sales, 69% were non-distressed properties! Distressed home sales are down 28% from a year ago while bank owned properties have fallen 57%. To take a closer look at the 2007-2012 statistics and comparison from listings to sales, click on either Single Family Homes or Condos to see for yourself.
Throughout 2011 The Purtee Team has been keeping their clients informed about the market which is reflected in their sales performance. Many of their clients got amazing deals by knowing when to enter the market and how to best get the property at the greatest value. On the other side, sellers that use The PURTEE Team have found that over 40% of those sales are with buyers brought to the closing table by The PURTEE Team... resulting in lower commission fees. Whether you are in a position to buy or sell in the Tampa Bay, Florida area, contact a member of this team first! Email us at info@floridagulfproperty.com.
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