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While the inventory is down slightly in total numbers, the number of sales has decreased, thus increasing the months of inventory. The key to selling now is still Price, Price, Price. You want to be at the bottom of the competition in price, and you want to be in the best possible condition. Stand out!
|
Single Family Homes |
|||||
|
Time Period |
# of listings |
# of sales |
Months of Inventory |
Average Price |
Odds of being sold this month |
|
Nov 2007 |
9,181 |
407 |
23 |
281,900 |
4.4% |
|
Oct 2007 |
9,228 |
484 |
19 |
286,400 |
5.2% |
|
Sept 2007 |
9,233 |
442 |
21 |
284,000 |
4.8% |
|
|
|
|
|
|
|
|
Condominiums |
|||||
|
Time Period |
# of listings |
# of sales |
Months of Inventory |
Average Price |
Odds of being sold this month |
|
Nov 2007 |
8,325 |
250 |
33 |
246,900 |
3.0% |
|
Oct 2007 |
8,270 |
263 |
31 |
318,000 |
3.2% |
|
Sept 2007 |
8,527 |
267 |
32 |
234,100 |
3.1% |
Looking at the same month historically, despite the headlines in the St Pete Times, the average price has increased from a year ago. Before you get too optimistic, though, remember that this is an average and not necessarily the case for any particular home and in any case, we’re still below 2005.
|
Single Family Homes |
|||||
| Time Period |
# of listings |
# of sales |
Months of Inventory |
Average Price |
Odds of being sold this month |
|
Nov 2007 |
9,181 |
407 |
23 |
281,900 |
4.4% |
|
Nov 2006 |
10,262 |
586 |
18 |
269,500 |
5.7% |
|
Nov 2005 |
4,737 |
1,020 |
2 |
326,500 |
21.5% |
|
|
|
|
|
|
|
|
Condominiums |
|||||
| Time Period |
# of listings |
# of sales |
Months of Inventory |
Average Price |
Odds of being sold this month |
|
Nov 2007 |
8,325 |
250 |
33 |
246,900 |
3.0% |
|
Nov 2006 |
6,497 |
263 |
25 |
233,000 |
4.0% |
|
Nov 2005 |
2,989 |
415 |
7 |
254,700 |
13.9% |
Generally the market slows down between Thanksgiving and Christmas, but so far this year, there’s actually MORE business than usual – all 3 of us are busy with showings, offers and contracts. We feel it’s a good time to buy – with prudence, of course.
- The Simms Team, RE/MAX Metro, St. Petersburg, Florida
