Did the subject line throw you? Did you think I was a basketball connoisseur? Alas, no. I know very little about the sport BUT the subject line of March Madness is still very fitting. You see March in real estate is typically the time when things kick into high gear. More homes come to market and buyers get serious (especially those with school age children). Why? Because most folks with school age kids want to move in the summer!
Without further ado here is your Pinellas County Real Estate Update!
What are your takeaways from this year over year breakdown? Mine you ask? With active listings being DOWN almost 37% all the other downs make sense!
Yes it’s still a seller’s market…. BUT HOW MUCH OF A SELLER’S. MARKET?
Take a look at this chart. Absorption rate = the rate at which active listings are selling. Simply put low absorption rate = buyer’s market and high absorption rate = seller’s market.
Single Family Home Stats Pinellas County!
To answer some common questions.
Yes, most homes are selling in days.
Yes, most homes are selling in multiple offer situations.
Yes, the interest rate is going to rise (and has since the beginning of the year)
No, I don’t a see a crash coming.
No, I don’t see a wave of foreclosures coming.
