Is it a Sellers' Market in St Petersburg, FL and all Tampa Bay?

Sure seems like it lately. We are nearly 50% off the amount of inventory compared to the same time last year. Still plenty of buyers (even though FHA is dropping the ceiling today) but homes are being sold and sellers are not in a hurry to list until they have to. In most neighborhoods based on current sales data we are only 5 months worth of inventory! Now, tell me it's not a seller's market. (at least temporarily?)
  • September 15 2011 - Snell Isle
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Answers (7)

Profile picture for sunnyview
Temporarily down maybe but with the recent bulge in foreclosure filings here prices/inventory may not be steady for long. It seem to be far from a seller's market and the trend coming looks like buyers who wait will be picking up better deals as long as rates hold.
  • September 15 2011
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Profile picture for Reallyfedup
I would say in a sellers market your sellers WOULD be in a hurry to list. 

Maybe your inventory is down because your sellers aren't listing their houses.
  • September 15 2011
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In the Twin Cities we currently have a 7 month supply of homes.

In May 2006 we also had a 7 month supply of homes.

The difference?

May 2006 - 30,000 homes for sale

August 2011 - 23,000 homes for sale.

Same number of months of inventory - yet almost 25 percent fewer homes for sale.
  • September 15 2011
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Profile picture for blue screen exile
"Now, tell me it's not a seller's market." -

I won't tell you anything...  you are the one making those millions of dollars of commissions on your dozens of listings, and raising the listing prices by tens of thousands of dollars due to the exceptional demand.  Why should I burst your self-talk bubble?

Yes, I'm sure you are correct that having your listings on the market for 553 or 883, or 365 or 427, or 196, or 223 days must mean you are correct.  Those houses are flying off the shelves like hot-cakes with wild bidding wars.

  • September 15 2011
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Profile picture for PukonYukon
really? does the seller of that house with 834 DOM think it's a seller's market?   and all those others with 500+ or 200+??
dang if that's a seller's market I'm confused.
  • September 16 2011
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Profile picture for PukonYukon
just saying -it doesn't seem smart if you have 20 listings but 10 of them have more than 150 DOM to be bragging it is a seller's market.  Maybe brag that it's getting better is the way to go.
  • September 16 2011
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The market has changed dramatically in the last 12 months. It is now a sellers market for sure. Some areas like the Old northeast and Snell Isle in St. Petersburg and other areas in South Tampa have homes that have multiple offers in the first few days on the market. Buyers have been looking for awhile and some have already missed out on other homes and are now ready to move fast.
  • August 18
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