“So How’s the market?”…I must get asked that question 5 times a day. I think that everyone’s aware that the market in Pinellas County, and especially in St. Pete, is moving VERY quickly. But not everybody know’s that one of the reasons for that is because we’re suffering from a pretty severe lack of inventory. Looking at February’s stats from the Pinellas Realtor Organization, we can see that our active inventory is down 9% from last year. The bulk of our activity for pending and closed sales falls between $100,000 and $500,000 with the majority of it falling between $200,000 and $250,000. So what does ALL of that mean? It means that if you’re the average buyer in Pinellas County, looking for a 3/2 home up to $250,000 you’re probably having a bit of a hard time finding a suitable property that doesn’t have multiple offers on it the day it hits the market. It also means that if you’ve been contemplating selling, now is a great time to do so! From a buyers standpoint, it’s VERY important that you get all of your ducks in a row prior to getting serious about looking for a home. The first step is to get a pre-approval in place with a good lender, because you’re going to want to be able to make offers right away if you find something that you like! Also, in market’s such as this, it’s not time to look for “deals” or make low offers “to see what the seller says”. When sellers have 15-20 showings on their homes the first day or two that they’re on the market, it doesn’t make sense for them to accept offers 10-20% below asking price. They have the luxury of waiting. So be prepared, be knowledgeable, and be serious.