Inventory is still low and prices have inched higher.
Single family active listings are down 27.19% from December of 2011, but the average sales price for single family active listings is up 15.72%. Active condo listings are down 20.02% from December 2011, but the average sales price for active condo listings is up 8.7%. The slight decrease in total property sales and active listings from November to December may be attributed to the busy holiday season.
The strongest supply of inventory continues to be condos. Currently, we have an 8.3 month supply of condo inventory. Residential properties are at a 4.5 month supply and single family homes are the weakest link with a 3.8 month supply of inventory.
Link to full report… via Pinellas Realtor Organization.