Is The Tampa Bay Beach Real Estate Market Finally Rebounding?

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The PURTEE Team watches the market closely and reports when we see news that impacts where the market is heading. When the monthly Market Statistics come out, the first thing we do is go to the Absorption Rate Chart to see which direction we are moving.

The second half of 2007 is when the market began to slide... 2008 and 2009 were struggling in a big way. We thought we were on a roll in the first half of 2010 until the oil spill put everything into a tailspin!

Take a look at the chart above for February 2011! To refresh was it is, the Absorption Rate (inventory turnover) is determined by dividing the number of units sold during the month by the total number of listings in the MLS. In both single family homes AND condos, things are happening! BUYERS TAKE NOTE!!! There are so many of you sitting on the sidelines waiting for the right "signal". Inside the February Statistics report are 2 pages you really need to look at. We will post them here, but you can also see them on the website. Take a look at the trend in the amount of inventory, then the number of sales compared to recent years.

See how you read it, but to us the pendulum we continually speak about has turned. What do you think?