Gulf beach real estate near bottom
     Property sales on Pinellas County's Gulf beach barrier islands have plunged to what could be the worst monthly performance ever while, at the same time, mortgage defaults are climbing.
   Only 66 existing housing units were sold along the beaches  from St. Pete Beach to Clearwater Beach in January. That averaged only 1 sale per 61 available units, the lowest on record. Just 10 months ago the ratio was 1 in 31. Twenty-one months ago, it was 1 in 9.
      Contracts for pending sales of houses and condominiums also were down, to 132 in January 2008, compared with 152 in January 2007, according to the Florida Association of Realtors.
      At the same time, mortgage defaults appear to be on the rise. Official records list 946 homes were in foreclosure in Pinellas County in January 2008. Hundreds of others are known to be in various stages of default.
      Following are the January 2008 figures compared with January 2007, plus monthly sales ratios going back to March 2006.