Clearwater Real Estate Update

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Check out your Monday Morning Coffee. The quotes remind us that it is how we react to any situation, not the situation itself, that most affects us. In light of the last few weeks, it is worth a read, then take a moment to think it over. We are basing the following numbers as of Oct. 9, 2017.

On to our real estate update. Using Clearwater as a bellwether, we are looking at 5 price ranges. Up to $100,000, $100,000 – $250,000, $250,000-$500,000, $500,000 – $1 million, and properties above $1,000,000.

DEFINITION:  Absorption rate = the length of time it will take the current inventory of houses to sell if no other houses come on the market.

In the lowest range, there are 131 active listings, in the last month 75 sold, leaving us with a 1.75 month absorption rate.

From $100,000-$250,000 there are 290 active listings, in the last month 140 sold, leaving us with a 2.1 month absorption rate.

From $250,000-$500,000 there are 269 active listings, in the last month 70 sold, leaving us with a 3.84 month absorption rate.

From $500,000 to $1,000,000, there are 146 active listings, in the last month 19 sold, leaving us with a 7.7 month absorption rate.

Finally, above $1,000,000 there are 91 active listings, in the last month 5 sold, leaving us with 18.2 month absorption rate. Contrast this with all of Pasco County, 25 $1 million + properties for sale, 2 have sold in the last six months. That is an absorption rate of about 75 months, or 6.25 years. That is not a seller’s market.

It is pretty obvious that some price ranges are selling a lot faster than others.

On to trivia for today.

October 9, 1760, the Luddites rioted in London protesting the use of machinery to spin cotton.

This date in history, in 1888, the Washington Monument opened to the public. Have you been to the top?

On October 9, 1949, that bastion of liberals, Harvard Law School, began admitting women. Seems like we’ve made some progress since then.

This day in 1946, the play, The Iceman Cometh, opened on Broadway. The play was written by Eugene O’Neill.

Shared birthdays for October 9 include: John Lennon (1940), Charles Walgreen (1873), Jackson Browne (1948), and former leading Republican Senator Trent Lott (1941).

Have a terrific week, and make sure your mindset says you will.  Read your Monday MorningCoffee.

Now for your Morning Coffee!

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Now for your Morning Coffee!