While we don't have a crystal ball we did think it would be helpful to take a look back over the last 2 years to see where Pinellas County luxury real estate been and where we are now.
Real Estate 2007 Year in Review - Pinellas County Luxury Condos
We all have heard that it's a buyer's market in the Tampa Bay area however let's review the facts and temper some of the news media. Here is the first report in our new series called the Real Estate Market Report - 2007 Year In Review.
Readers tell us that it's easy to find information on total Pinellas County market statistics however it can be misleading when those reports include everything from condos under $100,000 in 55+ Adult Retirement Condo Communities to the record setting condo sale of $4,400,000 at the Sandpearl Residences condos on Clearwater Beach this past month. 5 condos sold for over $3,000,000 this year in communities like The Grande, Mandalay Beach Club, Vinoy Place and Parkshore Plaza. Luxury condos and fine living still have their discriminating buyers even in this real estate market.
Just like all real estate is local - we believe each real estate market niche is unique and our goal is to provide you with a deeper view into our Luxury Real Estate Market in Tampa Bay. We've been doing the research and preparing detailed reports on different Tampa Bay real estate market niches like:
- Luxury Condos (over $500,000) in Pinellas County
- Gulf front Condos in Pinellas County
- Pool Homes in Pinellas County
- Luxury Homes (over $500,000) in Pinellas County
- The Clearwater Beach Sand Key Condo Report
- Island Estates Real Estate Report
- Clearwater Florida Homes Real Estate Report
- Clearwater Florida Condos Real Estate Report
...and how they've performed this year. We've also provided you with a historical view of the last 24 months. As we head into the New Year it's a time for reflecting on the past and planning for the future. Hope you find this information helpful.
We have seen the time it takes to sell luxury condos in Pinellas county has risen from just over 75 days to over 225 days this past month. It's easy to understand when you look at the fact that there is a more limited buyer pool for these luxury condos as well as the fact that condo buyers have more lots of choices of condos currently for sale in Pinellas County.
The next chart explains the Pinellas Luxury Condo Real Estate Asked to Sold ratio. We often get buyer requests for people wanting to buy a Clearwater Beach Condo on the Gulf of Mexico for under $100,000, we smile knowing we could sell those all day long if it existed and then have to explain is just doesn't.
The following graph shows that while luxury condo sellers in Clearwater, St Petersburg and the Tampa Beaches are making deals and there are some luxury waterfront condo bargains to be found, sellers are not "giving away" this desireable Tampa Bay real estate.
Notice on the Asked to Sold Graph below that with the exception of one month, June 2007, out of the last 24 months the "asked to sold ratio" has been over 90%. While Pinellas County luxury real estate usually sells faster and in the high 90's - luxury sellers are holding the line on their property values and many are willing to hold out longer than to sell a drastically lower prices.
Click to see complete report on the median price of luxury condos, units sold and Real Estate Report on Pinellas Luxury condo market in 2007.
Pinellas County Luxury Real Estate- Condominiums
Are you looking to sell a Pinellas Luxury Condo - request our complimentary Condo Value Report on what is your luxury Pinellas condo worth today.
Are you looking to buy a Tampa Beach Condo or Pinellas County Luxury Real Estate where you can enjoy our beautiful beaches or glorious green golf courses? Here's what some of our past clients have to say about how we helped them....
** CLICK ON PHOTOS BELOW TO SEE CLIENT VIDEO TESTIMONIALS **
Buyers tell us that selecting the best Clearwater Beach Real Estate Agent, online or from a distance, can be a challenge. Some of our past clients agreed to share their experiences and tell you why they think you should work with us.
Want more info on Clearwater Beach Real Estate? Search the Clearwater Beach MLS multiple listings of all properties including all waterfront Clearwater Beach homes for sale and beachfront condos in Clearwater.
Looking for Real Estate in Pinellas County, Golf Course Condos | Homes to Clearwater Beach Condos - Give us a Call today at (727) 422-8901.
The above information and images are Copyright © 2007 Jack and Cyndee Haydon, REALTORS and your Clearwater Real Estate Consultants and may not be copied, reproduced, distributed, transmitted, displayed or published. All rights reserved. Plagiarism will be detected and is punishable by law. Original article was Pinellas County Luxury Condos | Real Estate Market Report - 2007 Year in Review