Real Estate Market Update for May '07
What a beautiful day! It is 10:30 AM and a comfortable 70 degrees... Great day to catch up on a little yard work. If you have a moment feel free to browse my Devotional Blog at:
http://www.apilgrimspath.blogspot.com/
Here are the April Stats. No real surprises here. There was a slight decrease in the number of sales from March to April, but this is rather typical. Listings usually slow down in January and February, so we shouldn't be surprised by a drop in sales (closings) in April. However, listings rise sharply in March, April and May. So, if history is a good indicator, we should see a rather large increase in the number of sales in May, June and July. I'll have a few more observations below.
APRIL 2007 STATISTICS
http://pensacolaassociationofrealtors.com/STATISTICS.htm
Homes that are priced right are selling well below the area average of 128 days on market. Lord willing, the listings that I'll close on this month will have been on the market an average of around 60 days.
There are still a lot of homes to choose from. Will we hit the 7000 active listings mark in May? You might remember that back in March I said that if the current trends continued we might see 7000 active listings in May. We will see.
Average sold price actually increased in April. Lets see what it looks like in May before we call this a trend. My guess is that it will be near the same price. Overpriced listings have been reduced in price and are now selling. This will likely hold the prices steady at least, and may even help to push the average sales price up a bit. The median sold price remains fairly constant at or near $165K.
The same things I have been saying are still holding true. If you bought before IVAN, you are in good shape and stand to make a very nice profit when you sell. And there are so many homes to choose from, you are sure to find the perfect home when you get ready to buy. And, by the way, interest rates remain low.
I have a great home in North Harbor at a great price. If you know of someone who needs an immaculate 4 bedroom home in Pace with a pristine workshop or craft shop, on its own foundation, and huge covered patio for entertaining send them my way!
Here's the link:
http://parmls.com/PcolaReports/listings.asp?ID=2476063683
Hope you all have a great weekend.
His by grace,
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
http://www.apilgrimspath.blogspot.com/
Here are the April Stats. No real surprises here. There was a slight decrease in the number of sales from March to April, but this is rather typical. Listings usually slow down in January and February, so we shouldn't be surprised by a drop in sales (closings) in April. However, listings rise sharply in March, April and May. So, if history is a good indicator, we should see a rather large increase in the number of sales in May, June and July. I'll have a few more observations below.
APRIL 2007 STATISTICS
http://pensacolaassociationofrealtors.com/STATISTICS.htm
Homes that are priced right are selling well below the area average of 128 days on market. Lord willing, the listings that I'll close on this month will have been on the market an average of around 60 days.
There are still a lot of homes to choose from. Will we hit the 7000 active listings mark in May? You might remember that back in March I said that if the current trends continued we might see 7000 active listings in May. We will see.
Average sold price actually increased in April. Lets see what it looks like in May before we call this a trend. My guess is that it will be near the same price. Overpriced listings have been reduced in price and are now selling. This will likely hold the prices steady at least, and may even help to push the average sales price up a bit. The median sold price remains fairly constant at or near $165K.
The same things I have been saying are still holding true. If you bought before IVAN, you are in good shape and stand to make a very nice profit when you sell. And there are so many homes to choose from, you are sure to find the perfect home when you get ready to buy. And, by the way, interest rates remain low.
I have a great home in North Harbor at a great price. If you know of someone who needs an immaculate 4 bedroom home in Pace with a pristine workshop or craft shop, on its own foundation, and huge covered patio for entertaining send them my way!
Here's the link:
http://parmls.com/PcolaReports/listings.asp?ID=2476063683
Hope you all have a great weekend.
His by grace,
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 @ 12:29 PM
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