Palm Harbor Florida - February 2012 Market Report
The market has certainly changed during the last six months. We are seeing the swing beginning from a buyer's market back to a seller's market! The time homes are on the market is declining and multiple offers are becoming the norm once again!
So what has actually closed during the last six months in Palm Harbor Florida? Well, if you look at the graph above, you can see the number of single family homes that have sold.
Average time on the market has also been drastically reduced as you can see in the second graph. Homes are no longer sitting on the market for months, waiting for a buyer. Last month the median time on the market for single family homes was 52 days!
When we turn to condos, townhomes and villas that have sold here in Palm Harbor Florida during the last six months we see even more changes. While 32 properties sold last month in this category, we see even more impressive information when we turn to the price. This price point shift does indeed show the change toward a seller's market once again!
Anyone who has waited, thinking that the market was going to go even lower is finding that they need to move quickly now. Inventory is at an all time low and those who are starting to list are realizing that a shift is taking place. Those bottom of the market deals are becoming more and more difficult to find!
2012 is the year of the real estate recovery!!! And Palm Harbor Florida is leading the way!
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