The market continues to be good for The Simms Team, and is showing some improvement overall.

The Pinellas Realtor Organization statistics for February 2007 show that the absorption rate for single family homes has risen to 5.4% (not GREAT news, since this still means only 1 in 20 odds that amy particular home will sell during the next month) and condo absorption has risen to 3.5%. Both of these are below all of 2006.  For conditions relating to the luxury market, see a separate report. Pinellas County has an 18½ month supply of single family homes and a 28½ month supply of condos.

The inventory of homes (11,003) is up 68% from February 2006 which was up 107% from February 2005.  The inventory of condos (7,239) is up 49% since February 2006 which was up 206% from February 2005.

The number of single family sales was down 25.8% from a year ago and the number of condo sales was down 40.5% from a year ago.  Increased inventory and decreased sales is not good news for sellers, but of course is great opportunity for buyers. 

The median price for single family homes (same number above as below) is down 10% from last year, and the mean price (average) is down 8.5%.  For condos, the median price is down 2.6% and the mean price down 1.9% - less difference than in the single family homes.

E-mail The Simms Team for suggestions on making your home more marketable
sharonsimms@ssimms.com