The Dec 2018 Pinellas county real estate statistics are out. Overall there is a slight cooling to the market, with 8.4% fewer year to year closings and an additional 8.7% in available inventory.
Closings: Down 8.4%
Inventory: Up 8.7%
Absorption Rate: Up 3.4 months of inventory (up from 2.63 months in Dec 2017)
What Does It Mean?
It’s still a seller’s market in St. Pete, but it’s becoming a little more balanced.
For buyers that may mean there is a little less stress around missing the perfect house before you’ve even had a chance to go look at it. You still want to have your financing and down payment in order so you know your walk line and can make an offer when you find the right home.
For sellers it will probably take a little longer to sell your home, depending on price and condition. You may still see multiple offers coming in, especially if you own in a desirable location or are at an affordable price point for your area. If you want to stand out of the competition make sure your property’s marketing is on point!
Read more: https://pinellasrealtor.org/wp-content/uploads/2019/01/Pinellas-STATS_December2018.pdf