Proof Positive: Sales Directly Related To Price
Month after month, real estate agents have been advising sellers that if they want to sell their property, they need to reduce the price.
In two stories published on November 19th, the St. Petersburg Times has proven this point better than any real estate agent could ever illustrate it.
Story One
In the Heard It Here section of the Business Page, the Times ran a little sidebar story headlined "Home Sales Rise While Prices Sag".
This story basically says that from July 1 to September 30, home sales increased from 5,913 to 6,502 year over year.
During that same period, the article says that the median sales price in the Tampa area dropped 19-percent, from $210,700 to $169,700. A big portion of this drop in price has to do with the great number of short sales and foreclosures forcing prices down.
Okay, so the summary is that as prices go down the number of sales go up. If you're a seller, you want to keep that in mind.
Story Two
Same newspaper, different section. The headline: "Prices Up, Sales Down In Greater Bardmoor".
Apparently people who live in the Bardmoor area of St. Petersburg haven't gotten the message being explained in the first story.
The paper reported that the median price of a single family home in Bardmoor was up 21.7-percent from the second half of 2007 to the first half of 2008.
Sales in Greater Bardmoor, however, fell 22.2-percent for the same time period.
So, as prices increase, sales decrease.
Don't these two little articles kind of prove what real estate agents have been saying for a couple of years now? I think it does.
For more information on real estate in the Tampa Bay area, visit my website at http://www.thestpeterealestatesite.com/.
In two stories published on November 19th, the St. Petersburg Times has proven this point better than any real estate agent could ever illustrate it.
Story One
In the Heard It Here section of the Business Page, the Times ran a little sidebar story headlined "Home Sales Rise While Prices Sag".
This story basically says that from July 1 to September 30, home sales increased from 5,913 to 6,502 year over year.
During that same period, the article says that the median sales price in the Tampa area dropped 19-percent, from $210,700 to $169,700. A big portion of this drop in price has to do with the great number of short sales and foreclosures forcing prices down.
Okay, so the summary is that as prices go down the number of sales go up. If you're a seller, you want to keep that in mind.
Story Two
Same newspaper, different section. The headline: "Prices Up, Sales Down In Greater Bardmoor".
Apparently people who live in the Bardmoor area of St. Petersburg haven't gotten the message being explained in the first story.
The paper reported that the median price of a single family home in Bardmoor was up 21.7-percent from the second half of 2007 to the first half of 2008.
Sales in Greater Bardmoor, however, fell 22.2-percent for the same time period.
So, as prices increase, sales decrease.
Don't these two little articles kind of prove what real estate agents have been saying for a couple of years now? I think it does.
For more information on real estate in the Tampa Bay area, visit my website at http://www.thestpeterealestatesite.com/.
-30-
posted by Terry Ward at 4:11 AM
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