Pinellas County Real Estate Statistics for December 2016
The Pinellas County residential real estate market holds strong at the close of 2016. Dollar Volume for Single Family Homes increased 8.1% year-over-year, with $329.0 million in 2016 versus $304.3 million in December 2015. Dollar Volume for Townhome/Condo was $147.9 million in December 2016, up 6.6% from $138.7 million in December 2015. The number of Closed Sales for Single Family and Townhome/Condo combined for December 2016 was 1,875, down 3.5% from 1,944 in December 2015.
Median Sale Price for Single Family Homes was up in a big way again, at 17.6% from last year, at $222,250 for December 2016 versus $189,000 for December 2015. Median Time to Contract for Single Family Homes was 31 days in December 2016, up 3.3% from 30 days last December. Median Time to Sale for Single Family Homes was 73 days this December, the same number of days as last December.
The Condo/Townhome market segment’s sales prices are still holding strong.
- Median Sale Price was $142,000 for December 2016, up 7.6% over $132,000 in December 2015.
- Average Sale Price was up 11.9%, with $215,214 in December 2016 and $192,400 in December 2015.
Median Time to Contract for Townhomes and Condos was up 22.2% year-over-year, going from 36 days in December 2015 to 44 days in December 2016. Median Time to Sale for Townhomes and Condos was up 12.0%, at 84 days in December 2016 and 75 days in December 2015.
Year-over-year, closed sales for the Single Family segment were slightly down at 2.9%, and Closed Sales for the Townhome/Condo segment were down 4.7%. New Listings for Single Family for December were 995, down by 5.3% from last December, at 1,051. New Listings for Townhome/Condo for December 2016 were at 680, down 4.0% from 708 in December 2015.
The strong seller’s market continues, with months supply of inventory down 3.4% year-over-year, with a 2.8 month supply this December, as compared to a 2.9 month supply in December 2015. Months Supply of Inventory for Townhome/Condo fell 5.6%, with 3.4 months in December 2016 and 3.6 months in December 2015.
Pinellas Realtor Organization, January 2017