MARKET TREND

Several positive trends were reported today by the board of Mid Florida MLS. Inventory is down, sales are up, number of months of inventory is down.

In June of last year in the tri-county area there were almost 39,000.00 properties for sale, June 2009, a little over 29,000.00. Homes closed in June 3,065 and homes under contract 4,233. Available months of inventory 9.6. Coldwell Banker only has 4.3 months on inventory. Coldwell Bankers, has the largest number of listings in the  tri-county area but the best turn over rate.

Average days on market were 106 and the sold/list ratio was 93%. The sold to list ratio refers to the difference between the asking price and the actual sold price.  If a home is priced for today’s market the number of days on market and the sold/list ratio decline.

Market advantage still belongs to the buyer with more inventory than buyers to absorb it. Price trend is depreciating, for sales but for less dollars.  New Tampa home prices are down 18% year over year.