About these market statistics....
The two local Realtor organizations, the Pinellas Realtor Organization, and Greater Tampa Realtors, release market statistics each and every month.
These statistics are compiled for the previous month since that is the most recent full picture of data.
For example, the statistics package that was released in April would be for completed sales and homes listed in March.
In addition, we do not compared a month to the previous month, because over the course of a year there is a natural ebb and flow to the real estate cycle. Here in Tampa Bay, we have slow months around the start and end of the school year. So comparing July to August is almost always going to show the same trend.
Instead, we compare year to year. So for example, we would compare sales data from June 2020 to June 2019.
This helps us to clearly identify long term market trends.
If that timeframe seems a little long to you, rest assured that the estate market is very slow to change direction or move. Many times it will take months for a new trend to develop or show itself. So the comparison to the previous year’s numbers in most cases works perfectly fine.
And in cases where it doesnt, I’ll be sure to mention it in the video.
If you would like to be updated when I release a new video, as well as recieve a copy of these statistics, you can sign up for my statistics email list below.