August 2014 Real Estate Sales and Inventory Watch

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Last month, both sales and inventory crept up slightly…very slightly.

Sales have consistently stayed in a high range and August 2014 was the highest August sales since 2006.

Inventory is still staying in a very low range which is keeping us in a seller’s market. This is resulting in a continuing increase in prices although the rate of increase has slowed some but is still very strong.

As long as sales stay strong we will continue to have an inventory shortage and prices will increase and this will likely be the situation for the next year or two unless there is some major economic situation which affects it.

Here are August’s charts:

Pinellas County residential real estate sales chart Jan 2007 thru Aug 2014

PRO stats Oct 06 thru May 07_25591_image001

Information for charts above was taken from PRO/Suncoast MLS from Jan 2007 thru May 2011 & from the MFRMLS for May 2011 thru August 2014. This information may or may not include all listed expired, withdrawn, pending or sold properties of one or more members of the My Florida Regional Multiple Listing Service.

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