http://pensacolaassociationofrealtors.com/STATISTICS.htm
The first thing to notice is the number of active listings. As you may remember, I predicted that we may see 7000 active listings by the end of May. At 6931 we were close. We actually hit the 7000 mark sometime in June and finished the month with 7007 active listings. I also mentioned that the number of sales usually increases substantially throughout May, June and July. While sales certainly increased, the numbers were not very impressive. I also mentioned that I expected to see the average sales price remain steady over the next several months. The month of May saw a significant decrease in average sales price from April's surprisingly high numbers, while June saw a slight increase over May.
The most significant numbers to note are to be found in the number of sales and active listings for June. While the increase in the number of sales wasn't dramatic, it was steady. And while listings increased from May to June, the increase was minimal compared to past months. If the number of buyers remains constant, we should see the number of listings start to decrease slightly over the next several months. Prices should remain fairly constant, and may decrease ever so slightly over the next several months.
Supply remains high, and demand remains constant. I expect the current buyers market to continue for at least another 6 months to a year. That means we are likely to continue to see a slight decrease in prices.
Buyers have the upper hand in this market. Sellers need all the ammo they can muster to win in this highly competitive market. Both need a good Realtor to navigate these challenging waters.
Drop me a line or give me a call if you'd like more information about buying or selling in this market. As I've said in the past, there are great deals to be had for buyers. Sellers who've owned their homes for more than 3 years, are in a great position to sell and cash in on huge profits.
Feel free to leave a comment.
God bless,
Tom
posted by Tom @ 7:22 AM
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