For the first 8 weeks of the year the number of “new” listings put on the market declined. That’s great news. Getting the inventory down will help sales increase. Early in the year there were almost 2000 fewer single family home listings put on the market than the year before for the same time period. Plus, homes under contract for this period are up 22% from Jan 2008. That’s even better news.
Condos appear to have stabilizied as well. For the first 2 months in 2008, they are showing a 17% increase in sales. Considering the glut of inventory for condos, this is something we are all waiting for.
What buyers would be interested in hearing is that the Tampa Bay Area Housing Affordability Index has shot up dramatically for March of 2008 – due mostly to the decline in sales prices already this year. So, that makes home buying more and more attractive to those looking for a good deal.
Below is a list of the some of the hot areas for February 2008 Real Estate Sales – all are within 90-97% of the asking price!
St. Petersburg (north) – 85 houses and 41 condos
Seminole – 47 houses and 33 condos
Dunedin – 35 houses and 25 condos
Palm Harbor – 30 houses and 26 condos
While this is probably not to be taken as a market rebound, it’s darn good news in a continually challenging real estate market. We are hearing this more and more and it’s really true — NOW IS A GREAT TIME TO BUY!
Call us for more info at 1-888-423-5775. Search for Tampa Bay Homes, you are going to like what you see.