Foreclosure Defense Florida

Pinellas Real Estate at a Glance- August 2009

The Pinellas County Realtor Organization just published their detailed analysis of the real estate market for Pinellas County, based on the listings and closings in August 2009.   The following are a few of the important pieces of information from the report:

“¢   The number of new listings added in August was down 12.26% from August 2008.
“¢   Total inventory on the market at the end of August was down over 36% from last
year.
“¢   Pending contracts rose over 68% compared to August 2008.
“¢   Median price fell more than 17%; however the drop was far less than previous
months and we have been basically in the same price range since October 2008.
“¢   Days on market dipped slightly from August 2008.
“¢   Price per square foot was down a little over 18% compared to last year.
“¢   The supply-demand ratio shows a very large decline, reflecting the lower inventory
and new listings on the market.
“¢   Months supply of inventory overall is at its lowest point in 2 years. Currently we have
a 9 month supply.
“¢   The housing affordability index continues to be very high, 197 in August. That means
a family with median income for Pinellas County can easily afford a median priced
home and more.

This data and the information contained within the report suggests the market wil remain highly vulnerable for some time to come.   There is quite a bit of activity in this dynamic market, but navigating it successfully and determining how to take advantage of the market will take knowledge, experience and patience.   For a copy of the entire report and details about the Pinellas real estate maket visit https://tampabayrealtor.com/images/stories/statistics/market_activity_report/august_09_market_activity_report.pdf

or my website at www.mattweidnerlaw.com

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