Down, down the inventory goes

Did you know in Manatee County at one point there were more than 8,000 single family homes in the market?

Around the January 2007 we were at the height of the buyer's market. There were 37 homes for every buyer in the market place.

There was more than a three year of supply of single family homes. But that as they say is history.

Back to good ole September of 2008 and there was just over 4,200 single family homes on the market. About 22 homes for every buyer based on closed sales.

By studying these numbers you get an idea of what is going on here. If you look at the inventory over a three or four year period you see a dramatic rise in inventory to the peak of 2007 around January to the end of spring and then a steady decline.

The steady decline shows a market slowly bringing itself down to where demand and supply will once again be much closer and we might start seeing a slight increase in pricing.

This isn't going to happen overnight. In fact it will be most likely several months if not close to a year but it will happen at the current rate of drop in inventory.

All the best
Greg Owens PA
Keller Williams Realty of Greater Manatee
941.932.6343
greg@teamworksfla.com