Real Property St Pete

Send us Fan Mail

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 Fan Mail

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 Fan Mail

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 Fan Mail

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 Fan Mail

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 Fan Mail

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! 

Send us Fan Mail

David and Julie share the tale of the tape for the market statistics in October and November of 2024.  David also sneaks in a peek at the weekly stats that were being released in the first part of December.  Trending looks good for the month of December and final numbers will be released January 24th.  Check out the increase in Pending sales in November...up 42%.  A healthy rise in active homes listed as well.  Keeping it short in the New Year.  Happy 2025!!!  #GoVannTeam  #RealPropertyStPete

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 Fan Mail

David and Julie discuss the statistics during the Hurricanes Helene and Milton.  Basically a retrospective on what happened in the wake of the storms.  Flood Zone properties, flooded properties, land for sale versus homes which were high and dry.  Both hosts of the podcast have sold more than 30 homes in the areas which flooded.  Many days and hours were spent helping fellow St Petersburgers recover from these crisis situations.  

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 Fan Mail

As a consumer, buyer of new real estate, especially a First-Time Buyer of residential real estate, there are some things that you should know. 

One, you will need to have a real estate agent under contract to go and see a wide array of homes.  Selecting an experienced real estate agent who fits your personality and communicates effectively is going to be a key to your success.  Finding an agent who specializes in the types of homes that you are seeking and the location of homes where you would like to live is critical. 

Understanding how to judge the value of a home and negotiating a fair market value price are keys to long term success in the homeownership investment.  An agent who understands the contract and is able to represent your needs and concerns, as well as communicate with you about your interests and requirements, will make the process of buying significantly more successful. 

Since you will be signing a contract with this particular agent of real estate, it’s important to feel a level of trust and confidence in your agent.  Knowing they are able to explain the nuances of contract terms, of homeownership, and of transactions is security.

Confidence in your agent and their ability to negotiate and protect your interests will be significantly more valuable than the compensation you pay for their service. Mistakes in real estate transactions can be very expensive. A great agent will help prevent these pitfalls.

Listen here to hear great questions for your potential agent.  
Get great answers..
Get a great agent!!

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 Fan Mail

David and Julie discuss the new NAR Settlement Agreement.  What Buyers and Sellers need to know about the changes to the landscape of the residential real estate  business

1. Buyers need a Buyer Broker Agreement with a Realtor to see a home offered in the MLS
2.       How is the Buyer’s Agent Compensation Negotiated
3.       Who pays the compensation for the Buyer’s Agent
4.      Can the Compensation for the Buyer Agent be Financed?
5.      Why is it likely for the seller to continue paying the buyer's agent's commission?  

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!