The Hayslett Team

Pinellas County Real Estate Stats

admin — Thu, 02 Aug 2012 13:37:50 +0000

Total residential property sales rose by almost 16% from June 2011 to June 2012, and median sales prices
rose by 4.5% over the same time period. Total active listings fell over 30% for the same time period.
Financing had virtually no change over the last 12 months as cash accounted for almost 60% of all
transactions and conventional financing accounted for 25% of all transactions.
Single family sales rose nearly 17% and the median sales price rose by 8% from June 2011 to June 2012.
Listings continued their decline, sliding 32%. The month’s supply of inventory (MSI) declined over 50%
to 3.4 months. To put that number in perspective, a 6 month supply of inventory is considered a normal
market.
In the condo market, sales were up just over 14% and the median sales price was up 13% over the last 12
months. Active listings fell by 30% and pending sales were down 4.8%. The month’s supply of inventory
for condos dropped from 9.2 months to 5.2 months over the last year.
The number of days a property stays on the market rose drastically over the last year, reflecting the
problems buyers and sellers are having with banks. For short sales, days on market increased by 56%,
while non-distressed properties days on market increased by 19%.

Pinealls Real Estate Update 2012

admin — Tue, 27 Mar 2012 18:45:40 +0000

Pinellas County Real Estate Statistics for February 2012
The decrease in listings has continued in February and is starting to get to concerning levels. Active
inventory shrunk and non-distressed properties continue to increase their lead. Just over 21% of available
homes are short sales and foreclosures, a full 6% decrease over last February. According to Leon
Sarkisian, 2012 PRO Chairman of the Board, and realtor with Prudential Tropical Realty, properties that
have been on the market for an extended period of time are starting to get interest from buyers. Sarkisian
went on to say that many homeowners are too nervous to sell their existing homes for fear of not being
able to get financing on a new home.
In the overall residential market, sales were up about 2% from February 2011 to February 2012.
However, for the same time period the median sales price was up almost 18%. This may indicate the
low inventory is starting to drive prices higher, as pending sales are up 10% and listings are down
34%.
Single family sales are up only about 1.5% from February 2011 to February 2012. The median sales
price for the single family market is up almost 20%. Pending sales are up 8% while the month’s
supply of inventory is down almost 40% from February 2011 to February 2012.
The condo market had an almost 3% increase in sales over the last year but only 8% increase in the
median sales price. Active condo listings are down almost 27% for the same time period.
Keep an ear open for talk about legislation in Washington, D.C. that would extend mortgage debt
forgiveness on short sales beyond 2012. If this bill doesn’t gain traction, expect to start seeing a few
more short sales this summer, as sellers try to sell their homes and claim the tax break for the end of
the year.

Beautiful high-end townhome for sale!

admin — Thu, 17 Nov 2011 19:19:38 +0000

6638 83rd Ave. N.
Pinellas Park, FL
2BR/2+1BA Townhouse

offered at $115,000

Short sale. Beautiful high-end townhome richly decorated in comtemporary colors. Lovely, eat-in kitchen with granite countertops, closet pantry, breakfast bar, and easy access from 2-car garage for convenient unloading of groceries! Comfy living room has soothing view of private screened porch end lush landscaping beyond. There is a half bath on this first level. The second level has two huge bedrooms, each with it’s own bathroom. Separating them is a huge bonus room which has multiple possibilities. The two-car garage (Side by side spaces!) is a wonderful plus, too. It’s just steps from the lovely community pool. Only 10 minutes to wonderful downtown St. Petersburg with great restaraunts and museums! Only 15 minutes to our world-renowned Gulf beaches. This is an amazing value!!

Re/Max Realtec
O: 727-443-6700
F: 727-443-6755
Kenny@Hayslett.Biz
www.HayslettTeam.com
Blog: http://hayslettteam.com/blog
Twitter: http://twitter.com/kennyhayslett