A 300 percent increase in pending sales

Yes!

In the under 150k range for single family homes we have seen a 324.3 percent increase in pending sales over the past year, according to the latest Trendgraphix report for Manatee County.

We have seen a 118.7 percent increase in solds.

In real numbers this means 72 sales vs. 33 and 157 pendings vs 37.

And you can say little to no inventory. As of Feb. 09 we had 656 homes under 150k available. At the current absorption rate that is 4.1 months of inventory, very much a seller's market.

You can imagine what the left overs look like in this price range.

In the 150k to 200k single family home price range a little more inventory and about 6.3 months of supply based pendings sales. A neutral market.

Over 200k price homes. Lets just say the pickins are still good but there is an interesting trend.

I'm not going to over analyse this but over 200k even though sales are down more than 63.3 percent over last year and pendings are down more than 41 percent, the amount of inventory has dropped 51.6 percent.

It seems a lot of people have decided if they don't have to they are not going to list their homes They are going to stay out of the bloodbath this market can be.

With more than 2700 homes listed for more than 200k on the market we have just over 18 months of inventory based on pending sales. The inventory is going down in that range but not like the under 200k market free fall.

Now if you have a listing for more than $1 million. Pack a lunch.

You're in for a long, long haul, lets say more than 59 months of inventory based on pendings, that is 356 houses on the market when the report came out. One had sold in the past month.

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