As 2010 has now come to a close, Smith & Associates Real Estate can report that our sales volume increased 40% over 2009 with a 36% increase in residential units sold.  This stacked up to $483,000,000 in closed volume. These impressive figures are the results of a team of dedicated professionals who exceed company goals and outperform the competition in the market share areas that the company dominates.  The luxury market, a specialty of Smith & Associates Real Estate, has also seen a 40% increase with 38 homes selling above $1,000,000 in 2010. In addition, the company was fortunate to participate in the highest sale in Pinellas County at $8,000,000.

Through its participation in a staggering amount of transactions involving South Tampa homes for sale, our brokerage and its team of 150 agents has gathered historically high market shares.  An analysis of South Tampa homes for sale which closed in 2010 shows a 40% plus market share in the $400,000 price range and above, reaching a 50% share over $1,000,000.   In all of Hillsborough County, Smith & Associates Real Estate has a 20% market share in properties over $400,000, which rises to 40% at the $2,000,000 price level.  This growth is attributed to our expertise in the luxury real estate market.

Our office at Beach Drive serves the metro St. Petersburg real estate markets in Pinellas County, where our market share is 45% at the $500,000 price range and increases up to the record high of 87% in other price ranges.  The company acknowledges that all this momentum is attributed to the activities of an experienced real estate team, who work diligently in educating all parties in the changing economy to facilitate accurate and timely decisions.  Because of their hard work Smith & Associates Real Estate closed 1,166 residential units in 2010 with an average sales price of $429,000, selling in some cases 35% of our own listings due to the approach of our associates.  Agents meet weekly to preview and discuss recent listings and then “caravan” together to personally view them.

At the company’s annual meeting the associates with the help of national expert Steve Harney, we discussed the “Big Picture” of the current economic situation. The information discussed will be used to translate to the individual sub-markets that the associates serve. We do not expect the market to be any less challenging for our sellers to determine timing and price, as it is for the buyers.  Smith & Associates Real Estate has identified sub-markets throughout Tampa Bay, as well as trends in sales and pricing.  An individual can view these current market statistics by zip code by visiting SmithAndAssociates.com to assist them in their 2011 decisions regarding real estate.

Marking our 41st year of expertise in the Bay area real estate industry, Smith & Associates Real Estate will be opening a new office in Belleair.  The new office location is planned to open in February 2011, and those agents will assist clients not only with the sale and purchase of Belleair real estate, but also in the areas of Dunedin, Clearwater, and the North Beaches.

We are grateful for the 150 agents, at Smith & Associates Real Estate for their level of performance, cooperation and camaraderie that results in this success. But more importantly, we are grateful for their dedication to their customers and communities, and to seeing to the real estate recovery in their own neighborhoods!