According to the Pinellas REALTOR Organization, the real estate market in Pinellas County closed out 2015 with a strong finish! Here are just a few highlights from the December Market Report:
- Closed sales increased 24.7% in 2015 over 2014
- Sold dollar volume increased by 21.7% year over year ($4.1 billion in 2014 compared to $5 billion in 2015)
- Average sales prices and number of closed sales were higher in December, 2015 compared to December, 2014
What does this mean for you as a Seller?
We currently remain in a Seller’s market. In spite of the shortage of inventory currently on the market, the number of homes sold continues to increase. This means that there are a lot of buyers in the market that are driving prices up, thus resulting in higher property values. The current market conditions couldn’t be better for a seller! If you have been considering selling your home, now is the perfect time to do so!
What does this mean for you as a Buyer?
Prices do continue to steadily climb, so it is advantageous for buyers to get in early before prices get too high and interest rates go up. The quicker you purchase a home, not only will you pay less, but you will be able to capture the increase in equity in your home as prices continue to rise.
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What are you waiting for? If you or someone you know is ready to sell their home and/or buy a new one, please let me know!