Has the Dunedin, FL real estate market stabilized?  It is beginning to look like the price freefall is over or at the very least slowed.  In the past 90 days, in 30 day increments, we review the Dunedin, FL real estate market and the following is what we see.

From January 26 thru February 26, 2010, there were 191 single family houses actively listed for sale.  In that period, there were 56 houses listed as Active with Contract and 38 houses listed as Pending Sales.  The critical number is that 32 houses in Dunedin sold in that period, with an average sales price of $183,788 and the average Days on Market, or DOM, of 80.  The list price to sales price ratio is 0.93, or average list price of $201,426 to average sale price of $183,788.

From February 26 thru March 26, 2010, the number of active listings was 191, 56 houses were listed as Active with Contract and 38 houses listed as Pending Sales.  In this time frame, 21 single family houses sold, at an average sales price of $171,748 and an average DOM of 44.  The list price to sales price ratio was 0.91, or an average list price of $184,675 to average sale price of $171,748.

From March 27 thru April 26, 2010, the number of active listings was 191, 56 houses were listed as Active with Contract and 38 houses listed as Pending Sales.  The stability of the active listings, under contract and pending sales is remarkable.  The number of single family homes in Dunedin that sold in this period was 28, at an average sales price of $178,984 and DOM of 66.  The list price to sales price ratio was 0.95, with an average list price of $188,624 to an average sales price of $178,984.

You can see that the number of listings in Dunedin has apparently stabilized, with 191 active listings and an average of 27 houses selling in any 30 day period.  This means that for every one house sold, 7 remain on the market.  Thus, if you, the seller, want to sell your home, you must be in the top 14% of houses on the market or you will most likely not get an offer.  The good news is that the prices for this 90 day window did not plummet for Dunedin, FL.  The number of houses on the market in Dunedin is holding steady, and the number being sold is also relatively steady.  This indicates that the Dunedin real estate market may be stabilizing.  If this is the case, and we will know more in the next 90 days, it is possible that prices will remain at least steady (read stabilized) for the next several months before there is any indication of an upward tic. 

If you are a buyer, this is clearly the best time to buy.  Prices are not going to get much lower, and with the impending increase in interest rates, the buyer will be getting less house for the same monthly payment