This past 4th quarter has been busy as compared to the previous year. This can be attributed to the 8,000 first time home buyer tax credit, and also to the lower overall sales prices.
In December there was 442 SALES compared with December of 2008 when only 328 homes closed.
Pending sales have also increased with December's having 481 homes go pending, compared to 348 in December of 2008.
Overall inventory has seemed to level out through the last quarter of 2008 with inventory hovering around 4,700 total units. From my unofficial perspective the typical jump in inventory for January will not be that significant either.
These statistics prove what we have already known. The local real estate market here in Manatee county has slowed it's decent, and is reaching a bottom. As long as sales stay up we will work through the inventory that is active. That will mean prices will stabilize, and even tend to increase in certain areas.
2 years ago we were looking at 30 plus months of inventory, Today we have less than 10 months. That's a HUGE change.
When you need the help of a full time, top producing agent. Please give me a call. Joe Murphy 941-780-3260 joe@manateemoves.com
I am here to help.
www.manateemoves.com
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