A slice of the Palmetto, Parrish market

Everyone out there is talking about how poor the housing market is.

Well, like I always say that is like saying it is raining across the country today.

Let's just look at the 100k to 200k single family home market in the Palmetto, Parrish area for instance. It is a popular price point as it is considered affordable by many.

If you look at the Trendgraphix breakdown for November you find year over year the number of homes on the market is down 12 percent.

The number of sold homes is down 7.1 percent and the number of pending sales is up 50 percent.

Take that out over two years and there has been a 8.3 percent increase in sold homes and a 285.7 percent increase in pending sales.

Now pendings sales are probably up a lot due to pre-foreclosures or short sales. Agents are required to put them in MLS as pending after they have an accepted offer that in fact may take months to close if they close at all.

The increase though in closed sales over the past two years is impressive. More importantly the inventory on the market is down to 8.1 months based on pending and 16.9 based on closed sales.

Back in January 2007 we had more than 35 months of inventory based on closed sales.

Hmm, makes you think maybe it isn't raining everywhere and that possibly the sun is starting to shine in a few spots in our real estate market.

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