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Pinellas County Florida – good news for the market in November 2009

The number of homes in Pinellas County going to contract in November 2009 is way up from a year ago – 70% more homes went to contract and 67% more condos went to contract.  For single family homes, the median price has dropped from $150,000 to $146,000 and the average has dropped from $200,000 to $191,000. Condos have dropped more – the median has dropped from $137,000 to $113,000 and the average has dropped from $227,000 to $164,000.  Back to the good news – the supply of single family homes has dropped from 20 months to 11 months; condo supply has decreased from 29 months to 18 months.

So – more buyers are recognizing the opportunities with the lower prices and are buying, but they’re very value conscious.

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