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The Sinking Florida Real Estate Market - Are You Still Afloat?


Please note: This study includes only Pasco and Hernando County Florida and only those properties that were zoned residential single family homes sold by warranty deed at the time of recording.

New construction sales that were not assessed at the time, quit claim deeds, family transactions, foreclosure and or other types of distress, forced or convenience sales are not included.

The following charts represent summary statistics for past years
of such single family home sales in Pasco and Hernando County Florida as outlined above.

These two small areas represent just of fraction of the State's 67 counties.

As you can see, business was thriving in 2005. With an approximate 5 to 8% turnover in existing homes, everyone in real estate related services were making a decent living. However, starting in 2006, home sales activity clearly shows a significant and so far continuing downward trend through the present time. This in turn effects all those who are not independently wealthy.

With just this small sampling of homes sales activity you should be able to comprehend the trickle-down effect on related businesses that depend on the real estate market for a living.

A few come to mind instantly such as real estate brokers, lenders, appraisers, surveyors, as well as merchants such as furniture stores, home and garden centers plus an untold number of home improvement service businesses that would get new customers as a result of homes being sold.

You can take that a step further and include those who service and or supply all of the above businesses and their employees.

Everyone is feeling the pinch, but the upside is that trusted businesses that have been in the game and around for a long time are now enjoying what business there still is plus the runoff from those that did not have the resources or want-to to stick it out and therefore went belly-up.

This includes real estate agents who wanted in on the *big money*. Lots of these folks are retirees who had the requirements and were clever enough to obtain their Florida real estate license and lucky enough to get a position with a real estate broker as an agent. These people were in the game to make an extra buck to supplement their retirement income, but never hungry or dedicated enough to build up a business and following clientele.


Disclaimer:
Data obtained from sources deemed reliable. All output compiled and supplied without any warranty or guarantee of accuracy. We hope you will find this data of useful interest.
 


Pasco / Hernando County Florida Home Sales Activity Statistics

----- Hernando County Single Family Residential Home Sales -----

Period

 Total
Dollar Volume		 Number of
Homes Sold		 Average
Sales Price

Jan - Dec 1998
Jan - Dec 1999
Jan - Dec 2000
Jan - Dec 2001
Jan - Dec 2002
Jan - Dec 2003
Jan - Dec 2004
Jan - Dec 2005
Jan - Dec 2006
Jan - Dec 2007
Jan - Apr 2008

197,736,000
229,120,570
260,017,871
299,673,500
349,558,999
431,599,985
674,867,945
873,939,221
605,335,157
369,749,100
76,779,300

2,430
2,641
2,813
3,021
3,231
3,573
4,553
4,820
3,052
2,023
465

81,373
86,755
92,434
99,197
108,189
122,795
148,225
181,315
198,340
182,773
165,117
 

 ------ Pasco County Single Family Residential Home Sales ------

Jan - Dec 1998
Jan - Dec 1999
Jan - Dec 2000
Jan - Dec 2001
Jan - Dec 2002
Jan - Dec 2003
Jan - Dec 2004
Jan - Dec 2005
Jan - Dec 2006
Jan - Dec 2007
Jan - Apr 2008

546,996,700
714,853,900
857,470,954
1,008,699,600
1,019,919,100
1,399,985,975
1,892,478,140
2,997,160,206
2,288,303,840
1,448,581,460
246,810,450

6,884
8,188
8,920
9,512
9,081
10,671
12,429
14,888
10,221
6,832
1,309

79,459
87,305
96,129
106,045
112,314
131,195
152,263
201,314
223,883
212,029
188,549

Information supplied without warranty or guarantee of accuracy
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