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Dunedin Real Estate Market is Heating Up

by Doug & Gwen Campbell at Sun Bay Associates

The Dunedin real estate market is heating up.  Click on our Market Insider link for the month of October to see the data, list prices are lower than actual sold prices.  This is not what we have seen for the last few years and now suddenly the market has shifted from a buyer's market to a seller's market.

The median list price in Dunedin is $153,420, the median sold price is $167,000.  In brief, this is telling buyers not to wait for a "better price" because that better price is not coming anytime soon, unless there is another market "correction".  In the Dunedin real estate market, there has been an increase of almost 12% in active listings in the last month, and the average time of market is only 68 days, which is significantly shorter than the national average.

The long and the short of this brief topic is to take your time finding the right home, and when you find it, do not hesitate and make your best offer right away.  Chances are, if you like a specific house, someone else also likes it and will be making an offer.  To avoid an auction atmosphere, make your best offer when you find the house.  Don't take a weekend to "sleep on it".

 

Do You Really Want a Deal in Real Estate??

by Doug & Gwen Campbell at Sun Bay Associates

Where are the best deals in real estate in Pinellas County these days??  Are they in foreclosures, short sales or the traditional sales?  The answer may just surprise you.  Of course that depends on what your definition of a "deal" is.  Is deal the best value for the money?  If yes, then the best deal will surprise you.  Click here to find the best opportunities for foreclosures and short sales in the greater Clearwater area.

Traditional real estate transactions are apparently the best deals in today's market.  According to the Pinellas Realtors Organization statistics, foreclosures, for the month of September, sold at 101% of the list price.  There is only a 2.8 month inventory of foreclosures available.  The average days to close for foreclosures is 97 days, with 40 days from contract to closing.

Short sales are in a similar situation.  There currently is a 3.2 month supply of short sale houses in the Pinellas real estate and they are selling at 98% of the list price.  The average is 263 days to close short sales, with 134 days from contract to closing.

For traditional, or non-distressed houses, there is a 4.8 month supply of houses for sale.  And they are selling at 95% of the list price.  The average days to close for these sale is 111 days, with 38 days from contract to closing.

Many foreclosures are in need of considerable repair, updating or remodeling.  Short sales often need repairs, and there is far too much uncertainty in the process that the bank might come back just before closing with a higher dollar amount or there will be no sale.

In today's Pinellas real estate market, the non-distressed house offers less volatility, and more certainty as well as a good value for the buyer.  So click here to find non-distressed houses in the greater Clearwater area.  And happy house hunting.

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Photo of Gwen and  Doug Campbell - Sun Bay Realty Group Real Estate
Gwen and Doug Campbell - Sun Bay Realty Group
at Keller Williams Realty
30522 US Hwy 19N, Suite 107 S
Palm Harbor FL 34684
Doug's Cell 727-741-4189
Gwen's Cell 727-741-7260
Fax: 888-447-7908