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St Petersburg Real Estate Market Report August 2010 – Preliminary

St Petersburg Real Estate Market Report August 2010 – Preliminary

Most monthly property reports don’t come out for a couple more weeks – some that cover larger areas don’t come out for a couple of months, which always gives you old news. This St Petersburg real estate market report is considered preliminary because not all statistics have yet been reported to the Multiple Listing Service. The Pinellas Realtor Organization will wait til approximately the 5th of the month before compiling statistics, so those figures will vary somewhat from these. For that matter, statistics done at 3 pm may be different from those done at 2 pm because additional transactions have been entered into the MLS. So – take these figures as timely, but preliminary.

Single Family Homes in St. Petersburg:
In August 2010 there were 172 single family homes sold in St. Petersburg. This compares with 239 homes sold in August 2009, a drop of 28%. It’s more relevant to compare figures with the same month a year ago as to last month as that takes seasonal differences into account. The average St Petersburg sale price for a single family home in August 2010 was $125,866, down 21% from the average home sale price for the same area  in August 2009.  There were 2,190 single family homes actively on the market in St Pete at the end of August 2010 – indicating a 13 month supply of homes. The average listed home is $261,359 and has been on the market in the current listing for 145 days. Prices range from $8,500 to $7,500,000.

Condos, villas and townhomes in St Petersburg

In August 2010 there were 75 condos sold in St. Petersburg. This compares with 80 condos sold in August 2009, a drop of only 6%. The average sale price for a condo in St Petersburg during August 2010 was $138,762, down 25% from the average sale price in August 2009. There were 1,154 condos actively on the market in St Pete at the end of August 2010 – indicating a price drop of 25% over the last year. There is a 15 month supply of condos. The average condo listed in the MLS in St Petersburg is $176,831 and has been on the market for 152 days in the current listing. Prices range from $15,000 to $3,500,000.

To discuss buying or selling a property in St Petersburg, you can reach The Simms Team at ALVA International, Inc. real estate in downtown St. Petersburg at (727) 898-2582 or see The Simms Team website at http://www.ssimms.com

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