The local real estate market remains strong, and that’s good for buyers and sellers and real estate agents like me. So I sure don’t want to complain – we’ve all been through good times and bad times over recent years real estate-wise, and right now is one of the good times.
But I would be even happier if we had more listings to sell. I’ve worked with a number of qualified buyers over the past year who were ready and willing to buy a new home, but were frustrated by a lack of good homes on the market. Good listings that are priced right are simply flying off the market almost as soon as they are listed, so buyers sometimes simply can’t find the right home because listing inventory is so low.
I went to the Pinellas Realtor Organization website to look over their statistics, and the numbers bear this out.
In March, the number of new listings was up 5.1 per cent from the previous March – 2,540 listings county-wide for the month in 2016 versus 2,670 for March 2017. That’s a bit better than the previous month (February), when new listings were actually DOWN from February a year ago.
While it’s nice to see that number climbing a bit, it’s still not enough to satisfy the strong market demand.
So, to state it simply, we have an over-abundance of good qualified buyers, and a shortage of good, well-priced listings.
It’s a quandary, because it would be hard to find a better time to sell one’s home. The medium sales price for single-family homes was UP a startling 15 percent in March over March a year ago! Medium sales price was $200,000 in March 2016, but $230,000 in March 2017.
I think the only answer for me is to work even harder to find good listings. If I can list them, I know I can sell them!
Are you thinking about selling? Take advantage of this extraordinary market! It won’t last forever.
Give me a call! 727-643-7100.