The Sand Key Real Estate market is definitely a market in transition. Inventory has dwindled and prices have settled in most all buildings. Although this does not mean that all
Sand Key
Stats
Current
Listings:
124
# of Sales
in 2011:
129
Avg. Price
Sold 2011:
$437,000
Total Sold
2011:
$52,889,000
mean that all property values will immeditately start pushing up....there is some sales evidence to support some potential optimism. While the median price of a home in the Tampa Bay, St.
Pete and Clearwater area has actually gone up 5.2% from the same time last year, it's safe to say that Sand Key has burned through it's most all of it's distressed inventory and now Sellers are eager to push the ball forward.
From a Buyers perspective, even though it may be more difficult to locate a distressed property on Sand Key, prices have not been this low in over 6 years. The new "Killer Deal" in 2012 will be buying a property at the current market
conidtions. Because property will still be in demand and measured growth will continue...this coming year remains a great time to be a Buyer. There will be exceptions of course, but Buyers who know what they want...have their finances ready...and don't hesitate...will be the ones who will prevail.
From a Sellers perspective, the potential for things to get better hasn't been this good for at least 6 years. That's the good news...the bad news is that recovery will be a slow go. And...it will be building as well as street specific. Don't expect to push prices way up by holding out. Yes, you made it through the worst and survived...but a majority of Buyers are still motivated by "The Deal". When you get a fair market offer for your property...celebrate your good fortune. There are plenty of people in the country or the state for that matter who do not live in such a desirable area as Sand Key...and are years away from getting fair market value for their property.
If you would like to know more about the Sand Key Real Estate market check out the Buying & Selling links on this site. Or you can visit the the Florida Realtor Media Center for the latest reports and statistics regarding property sales in Florida. Or...you can just give me a call at 727-543-2860.
Real Estate market is definitely a market in transition. Inventory has dwindled and prices have settled in most all buildings. Although this does not mean that all
