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As we continue to analyze mid-year statistics in order to determine how things will fare for homes for sale St Pete through the remainder of 2010, several signs of change have appeared. The average days on the market continue to decline from a high of 225 days in the first quarter to the current average of 190. St. Petersburg is showing some of the same trends Tampa has experienced as days on the market adjust slightly downward.
Although this is only one facet of the market as it relates to gauging trends, it does show that the inventory level of homes for sale has stabilized. In addition, adjusted pricing has taken hold and property owners selling homes are now able to adjust pricing strategies with more confidence. All of these factors can help in the process of developing sales.
T
he inventory of homes for sale in St Pete, although it had increased in first quarter, is now stabilizing and starting a slow steady decline. The St. Petersburg market through the balance of 2010 will continue to experience further correction. Ideally, this year the balance between inventory and price will compliment the number of buyers in the market, which will make a more even approach for both parties.
With the median price hitting a number significantly lower than Tampa, St. Petersburg may find that inventory will continue to decrease as many buyers become educated on the opportunities available within the market. This is especially true considering many are now aware of how to meet their purchasing goals with continued availability of low interest rates.
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