Just a reminder that, in addition to showing off St. Petersburg, I’m also going to post some local Real Estate information from time to time – probably once a week.
Last Monday, I posted information about single family home listings and sales. June statistics had just been released and the news was better than it had been for awhile. Today, as I give you the stats on condo sales, you’ll see that there’s a positive trend here, too.
The number of condominium listings in Pinellas is down 16.9% from where it was last year. At the end of this June, there were 6,059 condominiums listed on the market in Pinellas – at the end of June last year, there were 7,293 condos for sale. A very healthy drop in inventory…
As far as price goes, the median price of all June condo sales was $139,000, which is the highest median price for condos yet this year. If you look only at ‘regular’ condo sales, excluding short sales and/or foreclosures, the median price of all Pinellas condos sold this June was $146,500.
Continuing the good news, the actual number of condiminiums that sold in June was up 29% from June of last year, from 327 sold units last June to 422 sold this June. The greatest percentage of condos sold were those in the $100,000 to $120,000 price range, at 10.7% of all units sold. But not too terribly far behind was the $200,000 to $250,000 price range, at 8.5% of all units sold.
Clearly, the Real Estate market still has a way to go before it recovers, and these statistics don’t dispute that fact. But they do show a continued positive trend in Pinellas, with sales up, prices up, and unsold inventory down, when compared to June of last year.
It is definitely time for anyone who is considering buying a home, whether it’s a single family house or a condominium, to get off the fence and get serious. Prices are going up, not down. And the $8,000 tax credit for first-time home buyers or those who have not owned a home in three years or longer only applies to sales that have closing completed by November 30th. That’s $8,000 of absolutely free money for you, if you are that first time home buyer. Questions? Contact me for details.
[All data referenced in this post is courtesy of the Pinellas Realtor Organization and is believed to be accurate, but is not guaranteed.]
