What will happen with the Clearwater Real Estate Market in 2012? A lot will depend on the economy and how it does this next year. The more stability that people see, the more the real estate market will improve.
And with more people retiring, there are more people moving to Florida. In a recent article about population growth in different areas around the country from April 1, 2010 to July 1, 2011 they said that “Florida added 256,000 people during those 15 months, lagging behind only Texas (529,000) and California (438,000). Its growth rate was 1.36 percent, or ninth highest.”
I think that the Spring will be very strong like it was last year, but I can’t say what will happen once we get into the summer months and then closer to the Presidential election. We’ll find out as the year progresses.
Last year was very strong in the local market. Sales started their decline in 2006 and continued until the end of 2008. In December 2008 there was the first showing of some strength starting to return to the market and each year since has seen a 10-25% increase in number of sales in Pinellas County for residential properties. In fact, the total number of sales in 2011 were nearly 55% higher than in 2008.
Last month I wrote in my newsletter that I didn’t think that December 2012 would be higher than December 2011 since that was such a strong month and I was correct. But…it was only a few dozen less as you can see in the chart below (click on the chart if you want to see if full-sized):
If you want to keep up to date on how the year progresses, make sure to read these newsletter each month – if for no other reason than to see the updated chart.
Inventory of residential properties for sale are lower than they have been since 2006 and I think that is partly because there have been a lot less foreclosed properties coming on the market. From what I can tell, that will change in 2012 but since there is still such a high demand in this market I don’t think it will have an adverse effect on sale although I think it will prevent property values from rising much.
But there are definite signs that the next few months will be strong. One is that statistic on Pending Home Sales which reflect contracts signed for future purchases. Here’s an article from the National Association of Realtors about the November statistics regarding this: Pending Home Sales Rise Again in November, Highest in a Year-and-a-Half
Clearwater Real Estate – New Clearwater Beach Condos site and Personalized Search
I just put together a new site geared toward beach condo buyers at http://clearwaterbeachcondosforsale.com and one of the features I included was a form that a site visitor can fill in if they want me to set up a personalized search in the MLS for them where they will be emailed any condos that come on the market that match their criteria.
It’s pretty cool because I took some time and got together a list of all the condo and townhouse complexes in each of the 3 sections of Clearwater Beach and when you use the form it will show the list that applies depending on whether you selected condos or townhouses or both, and for the specific area of Clearwater Beach you choose. You can check it out at http://clearwaterbeachcondosforsale.com/personalized-search-for-clearwater-beach-condos-and-townhouses-for-sale/.
Well that’s all I have for this month. Hope you have a good January and that I get to see you here soon when you get a chance to come down here and enjoy the nice weather and check out some Clearwater Real Estate.