March is the start of the Spring buying season and is typically the first month where we see a noticeable increase in sales and this year was no exception and that is an understatement. This March had the highest number of sales for any month since 2006 and there is no other month even close to it. This is surprising since we are still suffering from a very low level of inventory.
In fact, last month had the lowest level of inventory since 2006. If the trend continues we will have a much more severe shortage this year than last year and it will eventually start to slow down the sales numbers.
This can be a very tricky and difficult market to enter either as a seller or a buyer, so if you want advice on how to approach this market the right way, either as a buyer or seller, please don’t hesitate to call me at 727-687-1160 or email me at email@example.com.
Here are the sales and inventory graphs thru last month so you can see what I mean:
(Information for the charts was taken from PRO/Suncoast MLS from Jan 2007 thru May 2011 & from the MFRMLS for May 2011 thru March 2017. This information may or may not include all listed expired, withdrawn, pending or sold properties of one or more members of the My Florida Regional Multiple Listing Service.)