Pinellas Absorption Rate February 2014 Near 20%

Sales Absorption rate are just below 20% in Pinellas County for this past February. An average single family or condominium listing is taking about 5 months to sell. Some increase in closed sales to report year over year and a dramatic dip in closed short sales happened in the same period. I estimate single family absorption is lower on higher prices and fewer investors in the market than last year near the median price.