Holiday season is here, and we have the latest statistics on the Pinellas real estate market to give thanks for.
Median Sale Price for Single Family Homes was up 10.8% from last year, at $229,450 for October 2017 versus $207,000 for October 2016.
Median Time to Contract for Townhomes and Condos was down 12.8% year-over-year, going from 39 days in October 2016 to 34 days in October 2017.
Year-over-year, Closed Sales for the Single Family segment in October were down 3.7%. Dollar Volume for Single Family Homes increased 4.7% year-over-year, with $306.3 million in 2017 versus $292.4 million in October 2016. Median Time to Contract for Single Family Homes was 31 days in October 2017, up 6.9% from last October.
As we head into the real estate Season, we’re seeing increased pricing and fewer listings hitting the market.
- Average Sale Price for Single Family Homes grew 8.8%, at $297,387 in October 2017 versus $273,294 in October 2016.
- Median Time to Sale for Single Family Homes was 76 days this October, up 4.1% from 73 days last October.
- New Listings for Single Family for October were 1,312, down 4.4% from last October, at 1,373.
The seller’s market continues in October, with Months Supply of Inventory down 10.3% year-over-year for Single Family Homes, with a 2.6 Month Supply this October, as compared to a 2.9 Month Supply in October 2016. Months Supply of Inventory for Townhomes/Condo fell a dramatic 17.6%, with 2.8 months in October 2017 and 3.4 months in October 2016.
Pinellas Realtor Assn. November 2017