March 2015 Local Real Estate Market Update

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Rising real estate sales

Sales are continuing to be very very strong and inventory very very low. Last month’s sales were the highest since 2006 and are nearing the range of the peak back in 2005.

There are more sellers putting their properties on the market, however, with the sales levels continuing to rise it is keeping the inventory levels at very low levels and we are back to 2013 levels.

This means that buyers will have to be very smart about how they approach this market (see this month’s post about Mistakes to Avoid for Buyers) and sellers will have to also be intelligent in their approach and not get too cocky.

Here are the graphs so you can see what I mean (click on a graph to see it larger sized):

Pinellas County Residential real estate sale chart Jan 2007 thru Mar 2015

Pinellas County Residential real estate inventory graph Jan 2007 thru Mar 2015

(Information for charts above was taken from PRO/Suncoast MLS from Jan 2007 thru May 2011 & from the MFRMLS for May 2011 thru March 2015. This information may or may not include all listed expired, withdrawn, pending or sold properties of one or more members of the My Florida Regional Multiple Listing Service.)

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