Seminole, Fl home sales and listings stats
Today we’re giving you a quick update on the Seminole, FL real estate market. This town is an exciting place to live where you can find the county’s best schools, family friendly neighborhoods and be close to the beach. Located on the west side of our peninsula, Seminole is one of the 24 municipalities in Pinellas County.
There are currently 549 properties for sale in Seminole and 129 (23.7%) of them are listed as distressed (short sales, pre-foreclosure, bank owned).
168 homes are under contract and pending to close, of which 102 are selling under distressed circumstances.
In the past 12 months there were 714 homes sold in Seminole and 240 (33.6%) of them were sold as distressed.
Based on the numbers we can see that Seminole is doing better than some other areas in Tampa Bay in regards to distressed properties sales and listings. For example, Seminole is getting on average around 10% less both in distressed sales and listings than Clearwater. One interesting fact is that there are 60% pending deals identified as distressed, but only 33.6% actually close as such. This tells us that traditional, non-distressed sales close a lot faster. It also shows that many of the pending short sale deals fall apart and don’t close with the buyer who put in the first offer. We still predict 2011 to be rich with short sales and foreclosures and the market to start climbing back up in 2012.
Tampa Bay Real Estate Blog by The HOME Team