Looking at the total single family listings entering the market for December 2008 vs 2009 it is 1223 vs 1069 in Pinellas County. Total sales in December 2008 were 559 vs 645 for 2009 with a median sale price of $146,000, with 1,488 sf, sales price per sf is $103.14, built in 1964 and on the market for 60 days. For 2009 the medians were $143,500 with 1,462sf, and $99.49 per sf, built in 1964 and on the market only 44 days.
It appears we had a small decrease in values during the first quarter of 2009 with an increase in the second quarter, however we decreased back to first quarter values in the third and fourth quarters of 2009. I think we may have a small increase in values over the next year, but mostly floundering in a trading range.
Many of the short sales and foreclosures are selling at or above asking prices, indicating buyers are worried they won't have their offer accepted.
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