Send us a text

Check out the RPSP May 2025 Market Report

Some solid news for a market which has been struggling over the last several months or the first part of 2025.  Some glimmers of hope for moving properties and increased interest from out of state buyers.  

Also, an interesting discussion about Days on Market (DOM):  What really gets measured here?  What's missing about DOM as an indicator?  Listen and David and Julie discuss the metric, intriguing!!

Key Market Takeaways

• Closed Sales:
  1,014 single-family homes sold — a 3.5% increase from May 2024.
• Median Sale Price:
  $460,000 — down 5.2% from last year, but still up from earlier months in 2025, signaling a rebound from a slow winter.
  ➤ Hosts attribute lower median to flooded properties and fewer luxury sales, not overall value loss.
• Average Sale Price:
  $607,000 — the highest since August 2024 (pre-hurricane), suggesting recovery in higher-end market.
  ➤ Still down 6% YoY, but improving.
• Pending Sales:
  1,005 pending — a 7.3% increase YoY, indicating rising buyer activity and summer momentum.
• New Listings:
  1,365 — flat compared to last year and slightly down from recent months.
  ➤ Suggests slowing inventory growth, which is positive given buyer demand.
• Active Listings & Absorption Rate:
  4,182 active listings — still 40% higher YoY.
  ➤ Absorption rate remains at 5 months, showing a strong buyers market
• Time to Contract:
  Median = 32 days
  ➤ Hosts caution that this stat only includes homes that sold — not aging listings.
  ➤ Real-time buyer experiences show many homes are lingering on the market 60–100+ days due to overpricing or condition issues.

🏡 Market Observations & Commentary

• The slow winter (Jan–Mar) is giving way to a more active spring/summer market.
• Buyers are still active, especially from out of state (PA, MA, NC), countering narratives that people are fleeing Florida.
• Homes not selling quickly may be overpriced or outdated — but many nice homes are simply sitting longer due to buyer hesitation or inventory saturation.
• Sellers should be realistic: if you're past 30–40 days, it's time to reassess.

Want to work with us? David Vann can be found here, and Julie Jones can be found here! Reach out! We're nice, and we'd love to hear from you!

Send us a text

Rachel Nohlgren, Financial Planner with Mustard Seed Advisors at Raymond James, joins David and Julie to share her experience in purchasing a home with David and The Vann Team.  

Informative discussion about the process of buying and navigation of the market, inspections and the transaction.  

• Buying a Home to last for 10 or More Years
• Empowering a Single Parent 1st Time Buyer
• How a Financial Planner might set a home purchasing budget
• Understanding Value as a Buyer in an unusual market
  • Dig Deeper with this past episode:
  • Understanding Home Value -- A Buyer's Perspective
  • https://podcasts.apple.com/us/podcast/understanding-home-value-a-buyers-perspective/id1657774766?i=1000702212298
• Fun Times on the Home Search Trail
• Surprising Reason Rachel Picked this home
• Full Price Offer ?!?!
• Inspection Mystery: a new language interpreted
• Fixing the Plumbing
• What's a 4-Point Inspection

Want to work with us? David Vann can be found here, and Julie Jones can be found here! Reach out! We're nice, and we'd love to hear from you!

Send us a text

Rachel Nohlgren, Private Wealth Advisor with Mustard Seed Advisors of Raymond James, joins David and Julie for a discussion of financial markets, treasury notes, mortgage rates, lending in general.

• How does Rachel see the state of the economy?
• What is the likelihood of seeing a recession on the horizon?
• Unemployment, the Federal Government, and Private Sector Cuts
• The Luxury Real Estate Market: Who is Buying?
• How Does Real Estate fit into a balanced portfolio?
• How do Financial Planners advise clients on Home Purchases
• How do they advise on Investment Properties 

Want to work with us? David Vann can be found here, and Julie Jones can be found here! Reach out! We're nice, and we'd love to hear from you!

Send us a text

The podcast episode discusses the current real estate market conditions in Pinellas County, focusing on single-family homes and condos. Here are the key points:

1. Market Conditions: There's a significant increase in inventory, with a notable shortage of contractors affecting home preparation.
2. Challenges: Supply chain disruptions are causing delays in renovations, affecting listing readiness and market competitiveness.
3. Seller Strategies: Emphasis on competitive pricing and property condition to attract buyers, highlighting the importance of patience amidst longer selling times.
4. Statistics: Metrics include a rise in inventory levels, a decline in closed sales, and decreasing median sale prices year-over-year.
5. Advice: Sellers are advised to adjust pricing to market realities and maintain patience to secure successful sales.

Want to work with us? David Vann can be found here, and Julie Jones can be found here! Reach out! We're nice, and we'd love to hear from you!

Send us a text

Podcast Title: Real Property St. Pete Podcast

Hosts: Julie Jones (Smith and Associates) & David Van (Re/Max Metro)
Topic: February 2025 Real Estate Statistics – Pinellas County

🏡 Market Overview

• February is a short month, and the market update is also brief.
• Stats released by the Pinellas Realtor Organization show minimal change overall.
• Market remains stable with gradual shifts, not dramatic changes.

📊 Key Statistics

• Median Time to Contract:
  • 42 days (↑ 4 days from Jan 2025, ↑ 6 days from Feb 2024)
  • Homes are lingering longer, leading to seller impatience, though still within normal range.
• Median Time to Sale:
  • 78 days (↑ 5 days from both Jan 2025 & Feb 2024)
• Active Inventory (Single Family Homes):
  • 3,538 homes (↑ 2.5% from Jan 2025, ↑ 45% from Feb 2024)
  • Buyers now have more choices and time to shop.
  • Surge in open houses, buyers are attending these more than scheduling private showings.
• Absorption Rate (Months Supply of Inventory):
  • 4.2 months (↑ from 4.0 in Jan 2025, ↑ from 3.0 in Feb 2024)
  • Indicates a trend toward a more balanced market.
  • Sellers have a ~1 in 4 chance of selling in current conditions.

💸 Pricing & Seller Behavior

• Median % of Original List Price Received:
  • 94.1% in Feb 2025
  • vs. 93.8% in Jan 2025 and 95.6% in Feb 2024
  • Buyers are now getting ~6% off original list prices (compared to ~4% in 2024).
• Price Reductions are driving the lower list-to-sale ratios.
  • Buyers often wait for price drops before acting.
  • Well-priced, good-condition homes can still sell quickly and near asking price.

📣 Closing Notes

• Use this info to strategize and set realistic expectations.
• Price and condition continue to be the most important factors for sellers.
• Hosts encourage listeners to reach out with questions and subscribe for updates.

Want to work with us? David Vann can be found here, and Julie Jones can be found here! Reach out! We're nice, and we'd love to hear from you!

Send us a text

In this episode, Julie and David dive into the evolving real estate market and share insights on pricing strategy and negotiating offers. Tune in for practical tips and real talk on making deals happen.

Key Highlights:

• 📉 Why every buyer expects a discount in today’s market
• 🚪 No showings = overpriced: how to read the signs
• 💸 What happens after a price reduction—and how it sparks activity
• 🤝 Managing discounted offers and realistic expectations
• 🔁 The realtor’s role: facilitating, not dictating negotiations
• ⏳ Why timing and market conditions matter more than ever
• 🧠 Seller mindset: focusing on offers in hand, not emotional expectations
• 📊 Importance of pricing right from the start to avoid repeated reductions
• 💬 Final advice: Stay flexible, informed, and market-aware

Whether you're selling or buying, this episode gives you the tools to confidently navigate offers and close the deal.

Want to work with us? David Vann can be found here, and Julie Jones can be found here! Reach out! We're nice, and we'd love to hear from you!

Send us a text

Thought provoking podcast aimed to help Buyers Understand how to search for property and then understand and interpret value.  Great to share with friends who are considering a home purchase in this market.  Enjoy!!!

Here's a bulleted synopsis for the Real Property St. Pete podcast:

• Julie Jones from Smith and Associates Real Estate and David Vann from REMAX Metro discuss the intricacies of determining home value in a fluctuating market.
• They emphasize that market value is what an informed buyer would pay, influenced by recent comparable sales ("comps").
• The podcast highlights three key values for a home: seller's, buyer's, and appraiser's opinions, and the challenge of aligning them.
• They explore how location, property condition, and additional comforts like pools or garages impact perceived value.
• The discussion underscores the importance of understanding subjective market parameters beyond the listed price to make informed buying decisions.

Want to work with us? David Vann can be found here, and Julie Jones can be found here! Reach out! We're nice, and we'd love to hear from you!

Send us a text

The hosts, Julie Jones and David Vann, discuss the January 2025 real estate market statistics. Key points include:

1. Market Overview:
   • Closed Sales: Up 13% year-over-year, signaling positive market movement.
   • Cash Sales: Increased by 15%, with cash buyers representing 46% of sales.
   • New Listings: Up 14.5%, contributing to a 28% increase in active inventory.
   • Pending Inventory: Down 3%, indicating slower absorption.
2. Inventory and Pricing Trends:
   • Active inventory rose 28% overall and 43% for single-family homes, resembling a shift toward a buyer's market.
   • Median sale prices dropped 4.4%, marking a rare decline after years of growth.
   • Average sale prices fell 6.5%, largely due to fewer high-end property sales.
3. Market Dynamics:
   • Sellers are facing more competition, requiring strategic pricing and motivated positioning.
   • Open houses are drawing crowds, but buyers are cautious, often waiting for price reductions before acting.
   • Homes in move-in-ready condition or offering unique features are selling faster.
4. Notable Trends by Price Point:
   • Sales growth was strongest in the $200K–$600K range.
   • Lower-priced homes saw significant percentage increases, though actual sales volume remains low.
5. Advice for Sellers:
   • Pricing strategy is crucial; overpricing can result in prolonged market time.
   • Price reductions are becoming standard to signal seller motivation.

The podcast emphasizes that the market is shifting from a seller's market to a more balanced or buyer-favored environment, requiring sellers to be flexible and realistic in their expectations.

Want to work with us? David Vann can be found here, and Julie Jones can be found here! Reach out! We're nice, and we'd love to hear from you!

Send us a text

David and Julie discuss the January release of statistics about the month of December.  Significant story of the market and what is driving the most activity.  Check out the January Stats coming soon which further push the themes of this recovering market.

• Closed Sales: Up 33% (918 in Dec 2024 vs. 689 in Dec 2023)
• Cash Purchases: Up 43% (379 total), driven largely by flood-damaged or land-only properties
• Median Sale Price: Up 10% to $436,000
• Average Sale Price: Down slightly to $600,000
• New Listings: Up 38.7% (974 new listings vs. 700 the previous year)
• Active Listings: Up 33% (2,957 total)
• Inventory Supply: Increased to 3.6 months, consistent with trends from the past year
• Market Insight: December’s spike in sales activity suggests positive movement in recovery, with notable activity in mid-range price points

4o

Want to work with us? David Vann can be found here, and Julie Jones can be found here! Reach out! We're nice, and we'd love to hear from you!

Send us a text

Julie and David discuss the market in Shore Acres with Tammy Brophy.  Tammy has been selling real estate in Shore Acres for 30 years and lived in the neighborhood even longer.  A great story of serving community, family and friends in a time of hardship and crisis.  How are the Sellers?  How are the Buyers?  Where is the market and how will it change?  All great questions to discuss.  Please enjoy a great discussion among friends.

Want to work with us? David Vann can be found here, and Julie Jones can be found here! Reach out! We're nice, and we'd love to hear from you!