You like me and thousands of others, have heard the stories, read the headlines and listened to the pundits. Let's see, if we can make some sense of it all.
First and foremost, let's understand that the real estate market is not crashing to the basement. Most analysis is done on a median price basis. This means that of all sales, from pennies to millions, the median is the middle. Let's say that sales of $300,000 homes increases and the net result is that your median price has decreased. Hence, all of the news articles that prices are falling! The truth is the overall median price in our region has increased approximately 9 percent for the third quarter of 2006.
The real jest of the real estate market is that sales are down and not necessarily prices. There are numerous reasons for the decline in sales from high insurance rates, high taxes or investor withdrawal. Whatever the reason, you can still sell your home if it is priced correctly. (See previous column.)
On that note, here are the latest stats for November 1 through November 30 for our area (MLS areas 476, 477 and 478). At the present time, there are 759 condos listed, not including new construction, 11 have sold in the last 30 days with 16 under contract. As for single-family dwellings, there are 168 single-family homes for sale, 1 sold, and 7 under contract.
Ric Cornelius is the Broker/Manager of Sand Key Realty Sales and Rentals, Inc. Sand Key Realty has three offices with 40 agents. One office is at 740 S. Gulfview Blvd., Clearwater Beach, 727-443-0032; the second office is at 2701 Gulf Blvd., Indian Rocks Beach, 727-595-5441; and the third office is at 309 Belleview Blvd., Belleair, 727-461-4200.