Real Estate Market Update for March '07
This was published via e-mail in April '07.The blast of cool air was nice, but, 78 degrees and sunny skies is much more conducive to fun in the Pensacola sun!
Here are the latest stats from Pensacola MLS. Understand that these numbers reflect single family homes, condo's, town homes, homes under construction and homes yet to be built. That being said, it really doesn't matter what data we are including as long as we use the same data each month and each year. We are simply looking at trends in the market over the last several months and years. I am not an economist. I am not a prophet or a psychic. I am simply making these stats available to you.
All that being said, here are the stats! I think you'll notice some encouraging trends. I've included February's stats to keep you from having to dig back through your e-mail or trash bin for a comparison.
http://pensacolaassociationofrealtors.com/STATISTICS.htm
Here's what I noticed:
1. The number of available listings at the end of March 07 increased a mere 152 over the previous month's total. Comparatively, March 2006 saw an increase of a whopping 500 available listings over the previous month. That is good news. The rate of increase in the number of listings is lessening!
2. There were 109 more sales in March 07 than there were in February. The March '06 total saw an increase of only 82 sales over the previous month. This also is good news. Let's hope this trend continues!
3. More good news! The average sales price dropped only slightly over last year's total. In my last update I stated that I would not be surprised to see us move downward and closer to the average sales price of March 05... and we did. March 05's average was $181,844. March 07's average was $183,959. We are only $2115 above the March 2005 average. I think this is significant. I hope this indicates that we are near the bottom of the downward spiral.
4. A look at April 06 reveals that the average sales price increased substantially over the previous month. I do not think we'll see that same substantial increase in April 07, due to the fact that supply still far outpaces demand. However, the encouraging news above gives me hope that April 07 may see a stabilization, if not an ever so slight seasonal increase in sales price when compared to last month.
Have we turned the corner? We'll need a few more months of stats before we can tell for sure. But, I am optimistic. I've been hoping to see some good signs in the market and it sure looks promising. But, we'll have to give a bit more time before I start jumping for joy!
If you are thinking of buying, this is very much a buyer's market. Rates are still low! And, because there are so many nice homes to choose from, you are sure to find the right home for the right price!
As I've been saying to those who are thinking of selling, if you bought prior to the run-up that began in mid/late 2004, you are sitting pretty. You stand to make a very nice profit on the sale of your home. And when you do, you'll have a great opportunity to downsize into that low-maintenance Patio home you've been dreaming about. Or... maybe its time to up-size into that larger home for your growing family!
Whatever your particular Real Estate need, I'm here to serve you. If you have any questions, or if you know someone who needs a good Realtor, please call or e-mail!
Hope you all had a great Easter! As always, please take a look at these listings and forward them to anyone you thing may be interested.
Details 325227, 3980 HARBORS PORT ST, PACE, FL - $239,900.00
Details 325065, 5615 WHISPERING WOODS DR, PACE, FL - $209,900.00
Details 322774, 5608 WHISPERING WOODS DR, PACE, FL - $224,900.00
Details 324104, 7201 SCENIC HWY, PENSACOLA, FL - $569,900.00
Or Click Here to go view all listings at once. If your email program doesn't support an HTML url, then copy and paste the following address to your browser's address box. Make sure you copy and paste the entire link; it may appear on multiple lines.
http://parmls.com/PcolaReports/listings.asp?ID=2475859499
God bless you and yours,
Tom
"Reaching Forward to What Lies Ahead..." Phil 3:13
Tom Robertson, Sales Associate, Coldwell Banker JME Realty
Direct line: 850-324-7109; Fax: 850-479-4853
loan pre-approval 866-728-4691
www.tomrobertson.com
posted by Tom @ 12:23 PM
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