In April 2008 we hit a low for both the median price and the average price of a single family home in Pinellas County, Florida, and each month since then has been higher --- until September, which brought a new low. There's currently a 16 month inventory.
Those figures aren't unexpected, though - people are able to afford less house, so are buying less expensive homes. Therefore - the average and median go down.
Averages can be so misleading! There's only a 3 month supply of homes under $30,000 and a 47 month supply of homes over $1,000,000. Some neighborhoods have had rising prices and others declining prices. One condo can have a huge inventory and next door there are none on the market. All real estate is local.
For real information, prospective buyers and sellers should contact a knowledgeable local agent. After all, the home you want to buy or sell isn't "average", is it?
Hi Sharon, I loved that call to action at the end. "For real information, prospective buyers and sellers should contact a knowledgeable local agent. After all, the home you want to buy or sell isn't "average", is it?"
Would you mind If I steal the idea if I write it a bit differntly?