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Dollar Volume & Sales Prices Up on Clearwater Beach

Dollar Volume & Sales Prices Up – reporting indicates a dramatic increase in dollar volume and the median sale price year-over-year this August.

Dollar Volume for Single Family Homes saw a 14.0% increase from $368.3 million in August 2017, to $419.9 million in 2018.
Dollar Volume for Townhome/Condo increased 13.3% year-over-year, with $171.4 million in August 2017, compared to $194.2 million in August 2018.
The Median Sale Price for Single Family Homes was up by 7.6% from last year, at $255,000 for August 2018 versus $237,000 for
August 2017.
The Median Sale Price for Townhomes/Condos was $169,900 for August 2018, up 11.8% from $152,000 in August 2017.

Single Family
The Average Sale Price for Single Family Homes rose 6.9% from $298,701 in August 2017 to $319,287 in August 2018. The Median Time to Contract for Single Family Homes was 28 days in August 2018, up 16.7% from 24 days last August. The Median Time to Sale for Single Family Homes was 65 days this August, up 3.2% from 63 days last August.

The Months Supply of Inventory for Single Family Homes increased 12.0% year-over-year, with a 2.8 Month Supply this August, as compared to a 2.5 Month Supply in August 2017. New Listings for Single Family for August were 1,458, up 4.1% from last August, at 1,401.

The Active Listings for Single Family Homes rose 4.9% from 3,022 in August 2017 to 3,170 in August 2018. Closed Sales for Single Family were up 6.7% year-over-year, at 1,315 in August 2018 versus 1,233 in August 2017. Paid in Cash sales for Single Family increased 5.5%, from 343 in August 2017 to 362 in August 2018.

Condo/Townhome
The Average Sale Price for Townhome/Condo was $244,850 in August 2018, up 5.4% from $232,299 in August 2017. The Median Time to Contract for Townhome/Condo market was 33 days in August 2018, down 5.7% from 35 days last August.

The Median Time to Sale for Townhome/Condo market was 76 days in August 2018 and 79 days in 2017, down at 3.8%. The Months Supply of Inventory for Townhome/Condo remained the same at 2.7 months in August 2018 and August 2017. New Listings for Townhome/Condos for August 2018 were at 875, up 4.5% from 837 in August 2017.

Active Listings for Townhomes/Condos dipped 2.0% from 2,074 in August 2017 to 2,032 in August 2018. Closed Sales for the Townhome/Condo segment rose 7.5% year-over-year, at 738 in August 2017 versus 793 in August 2018. Paid in Cash sales for Townhome/Condo increased 1.0%, from 390 in August 2017 to 394 in August 2018.

Pinellas Realtor® Organization September, 2018

Clearwater Beach Real Estate Market Report

May 2018 – The Pinellas County housing market in April continued the trend of higher median sale prices and faster median time to contract for both Single Family Homes and Townhome/Condo. The most noticeable difference that breaks from what we’ve been seeing in 2018, is that for the first time since January 2018, new listings for the month were more than same month last year.

New Listings

New Listings for Single Family for April were 1,449, up 1.4% from last April, at 1,429. New Listings for Townhome/Condos for April 2018 were at 1,007, up 4.8% from 961 in April 2017. The Median Sale Price for Townhomes/Condos was $169,900 for April 2018, up 8.9% from $156,000 in April 2017.

Median Prices

The Median Sale Price for Single Family Homes was up by 7.6% from last year, at $252,750 for April 2018 versus $235,000 for April 2017. The Months Supply of Inventory for Single Family Homes remained the same year-over-year, with a 2.6 Month Supply this April, as compared to a 2.6 Month Supply in April 2017. The Months Supply of Inventory for Townhome/Condo also fell 9.1%, from 3.3 months in April 2017 to 3.0 months in April 2018.

Single Family

Movement on Single Family Home sales also improved year-over-year. The Average Sale Price for Single Family Homes rose from $318,451 in April 2017 to $335,499 in April 2018. The Median Time to Contract for Single Family Homes was 27 days in April 2018, down 6.9% from 29 days last April. The Median Time to Sale for Single Family Homes was 66 days this April, down 7.0% from 71 days last April. Dollar Volume for Single Family Homes increased 4.7% year-over-year, with $406.6 million in 2018 versus $388.5 million in April 2017. Year-over-year, Closed Sales for the Single Family were slightly down -0.7%, with 1,212 in April 2018 versus 1,220 in April 2017.

Townhome/Condo

The Average Sale Price for Townhome/Condo was $236,292 in April 2018, up from $223,482 in April 2017. The Median Time to Contract for Townhome/Condo market was 29 days. It was 34 days in April 2017. Median Time to Sale for Townhome/Condo market was 70 days in April 2018 and 77 days in 2017, down at 9.1%. Dollar Volume for Townhome/Condo saw a 2.2% increase year-over-year, with $203.4 million in April 2018 compared to $199.1 million in April 2017. Coinciding with less Townhome/Condo inventory, closed sales for the Townhome/Condo segment were down by 3.4% year-over-year, at 861 in April 2018 versus 891 in April 2017.

Pinellas Realtor Association May 24, 2018

Clearwater Beach Real Estate Report – March 2018

March 2018 Report
The Pinellas County real estate market is continuing to see higher sale prices and units moving at a faster rate for both the Single Family and Townhome/Condo markets compared to February 2017.

Townhome/Condo
The Townhome/Condo market stats for February 2018 were the most impressive. In January of this year, the Median Time to Contract for Townhome and Condo market was just 35 days. February continued that trend by reducing the Median Time to Contract to an astounding 28 days. It was 47 days in February 2017. After seeing the Median Sale Price for Townhome/Condo increased to $147,500. In January, this figure jumped to $154,000 for February 2018. It was $149,500 in February 2017.

Median & Average Sale Prices Single Family
Movement on Single Family Home sales also improved year-over-year.

The Median Sale Price for Single Family Homes was up by an impressive 10.0% from last year, at $244,250 for February 2018 versus $222,000 for February 2017.
The Average Sale Price for Single Family Homes leaped from $286,417 in February 2017 to $318,139 in February 2018.
The Median Time to Contract for Single Family Homes was 32 days in February 2018, down from 38 days last February.
The Median Time to Sale for Single Family Homes was 73 days this February, down from 81 days last February. Dollar Volume for Single Family Homes increased 8.9% year-over-year, with $295.9 million in 2018 versus $271.8 million in February 2017.
New Listings for Single Family for February were 1,338, down from last February, at 1,370. Year-over-year, Closed Sales for the Single Family segment were down, with 930 in February 2018 versus 949 in February 2017.

New Listings for Townhomes/Condo for February 2018 were at 1,005, up 3.2% from 974 in February 2017. Closed Sales for the Townhomes/Condos segment were up slightly by 3.3% year-over-year, at 667 in February 2018 versus 646 in February 2017. Average Sale Price for Townhome/Condo was $234,296 in February 2018, down from $236,827 in February 2017. Dollar Volume for Townhomes/Condos saw an increase year-over-year, with $156.3 million in February 2018 compared to $153.0 million in February 2017. Median Time to Sale for Townhomes and Condos was 91 days in February 2018 and 65 days in 2017, down 12.2%.

Inventory
Inventory continues to shrink, with Months Supply of Inventory down 7.1% year-over-year for Single Family Homes, with a 2.6 Month Supply this February, as compared to a 2.8 Month Supply in February 2017. Months Supply of Inventory for Townhomes/Condo fell 11.4%, with 3.1 months in February 2018 and 3.5 months in February 2017.

Pinellas Realtor® Organization – March, 2018

Belleview Place – Selling Daily Sunsets

Belleview Place – Unsurpassed Luxury

Resort Living and Dining. Championship Golf. Water and Fairway Views. Belleaire Country Club and Refined Resort Amenities in this Gated Community.

Belleview Place Welcome Center
275 Belleview Blvd. , Belleair, FL 33756
727-469-7070
BelleviewPlace.com

Real Estate Rebounds for Season

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

Clearwater Beach Real Estate Report October

September’s numbers are out, and it comes as no surprise that Hurricane Irma made somewhat of an impact on the real estate market.

Before you get too concerned, there are some important takeaways from this month’s statistics. Year-over-year, Closed Sales for the Single Family segment in September were down 25.3%, but this is directly related to the length of time businesses, schools, and other institutions were closed before and after Irma’s impact.

Median Prices

Median Sale Price for Single Family Homes was up 11.7% from last year, at $248,000 for September 2017 versus $222,000 for September 2016 which is a strong indicator that the housing market was just delayed, rather than derailed. It should also be noted that there were only 20 business days this September, and even if title agencies, banks, and other major players in the market were only closed for four days, that is 20% fewer business days to get things done.

Dollar Volume

Dollar Volume for Single Family Homes decreased 16.9% year-over-year, with $284.6 million in 2017 versus $342.4 million in September 2016. Median Time to Contract for Single Family Homes was 23 days in September 2017, down 8.0% from last September. Average Sale Price for Single Family Homes grew 11.2%, at $316,533 in September 2017 versus $284,614 in September 2016. Median Time to Sale for Single Family Homes was 67 days this September, down 6.9% from 72 days last September. New Listings for Single Family for August were 858, down 33.6% from last September, at 1,293.

Townhome & Condo

The Townhomes/Condo market segment’s sales prices are still holding strong. Closed Sales for the Townhomes/Condo segment were down 3.7%.

Median Time to Sale for Townhomes and Condos decreased 2.5% year-over-year at 78 days in September 2017 and 80 days in 2016.
Average Sale Price saw an amazing 18.4% increase with $224,894 in September 2017 and $189,901 in September 2016.
Median Sale Price for Townhomes/Condos was $149,000 for September 2017, up 18.3% from $126,000 in September 2016.
Dollar Volume for Townhomes/Condos saw a 14.0% increase year-over-year, with $146.0 million in September 2017 compared to $128.0 million in September 2016.
Median Time to Contract for Townhomes and Condos was up 5.6% year-over-year, going from 36 days in September 2016 to 38 days in September 2017.
New Listings for Townhomes/Condo for August 2017 were at 614, down 25.4% from 823 in September 2016.

Inventory

The seller’s market continues in September, with Months Supply of Inventory down 7.1% year-over-year for Single Family Homes, with a 2.6 Month Supply this September, as compared to a 2.8 Month Supply in September 2016. Months Supply of Inventory for Townhomes/Condo fell a dramatic 17.6%, with 2.8 months in September 2017 and 3.4 months in September 2016.

Pinellas Realtor Assn. October, 2017

July Kicked Off Third Quarter with Some Strong Figures

Third Quarter – Clearwater Beach Real Estate

The latest market statistics from Florida Realtors show that July has kicked off the third quarter with some
strong figures.

Dollar Volume for Townhomes/Condos saw a 25.4% increase year-over-year, with $170.2
million in July 2017 compared to $135.7 million in July 2016.
Median Sale Price for Single Family Homes was up 11.6% from last year, at $240,000 for July 2017 versus $215,000 for July 2016.
Median Time to Contract for Townhomes and Condos was down 20.0% year-over-year, going from 40 days in July 2016 to 32 days in July 2017.
Median Time to Contract for Single Family Homes was 19 days in July 2017, down 32.1% from last July.

Dollar Volume for Single Family Homes also had an increase of 6.7% year-over-year, with $377.1 million in 2017 versus $353.4 million in July 2016. Median Time to Sale for Single Family Homes was 66 days this July, down 12.0% from 75 days last July. Average Sale Price for Single Family Homes grew 8.5%, at $312,210 in July 2017 versus $287,816 in July 2016.

The Townhomes/Condo market segment’s sales prices are still holding strong. Median Time to Sale for Townhomes and Condos decreased 6.3% year-over-year at 74 days in July 2017 and 79 days in 2016. Average Sale Price saw a 13.9% increase with $226,638 in July 2017 and $198,965 in July 2016. Median Sale Price for Townhomes/Condos was $160,000 for July 2017, up 14.6% from $139,635 in July 2016.

Year-over-year, Closed Sales for the Single Family segment were down slightly by 1.6%, and Closed Sales for the Townhomes/Condo segment were up 10.1%. New Listings for Single Family for July were 1,448, up 7.7% from last July, at 1,344. New Listings for Townhomes/Condo for July 2017 were at 757, down 6.8% from 812 in July 2016.

Inventory

The strong seller’s market continues in June, with Months Supply of Inventory down 10.7% year-over-year for Single Family Homes, with a 2.5 Month Supply this July, as compared to a 2.8 Month Supply in July 2016.

Months Supply of Inventory for Townhomes/Condo fell 17.1%, with 2.9 months in July 2017 and 3.5 months in June 2016.

Pinellas Realtors August 27, 2017

Canadians & International Buyers Love Florida Homes

Canadians retained their spot as the No. 2 international buyers of U.S. property, with Florida coming in as the most popular state among this investor group, according to the 2017 National Association of Realtors’ International Activity in U.S. Residential Real Estate Report.

Despite the weak Canadian dollar, (one Canadian dollar will get you 79 U.S. cents) Canadians remain key home buyers. Of the nearly $20 billion in U.S. real estate purchases, $7 billion were in Florida alone. Other popular states include Texas, California, New Jersey and Arizona.

Canadians have more than doubled their spending on U.S. properties. Between April 2016-March 2017, Canadians spent $19 billion on U.S. real estate, up from $8.9 billion the previous year.

In Canada, house prices rose by 10 percent in 2016, compared to 5 percent in the U.S. In particular, Vancouver housing prices rose sharply over the past year by 17 percent. The U.S. housing market saw modest price growth compared to Canada’s housing markets, which may have played a role in increased spending on U.S. properties.

Foreign US Home Buyers

Foreign purchases of U.S. residential real estate surged to the highest level ever in terms of number of homes sold and dollar volume.

Foreign buyers closed on $153 billion worth of U.S. residential properties between April 2016 and March 2017, a 49 percent jump from the period a year earlier, according to the National Association of Realtors. That surpasses the previous high, set in 2015.

The jump follows a year-earlier retreat and comes as a surprise, given the current strength of the U.S. dollar against most foreign currencies, which makes U.S. housing even more expensive. Apparently, the value of a financial safe-haven is outweighing the rising costs.

Half of all foreign sales were in three states: Florida, California and Texas.

Orlando Business Journal, CNBC August 18, 2017

Clearwater Beach Housing Holds Strong

The latest numbers are in for June and they show that the market holds strong, including the highest Closed Sales figure for the Single Family Homes segment since at least 2009.

Dollar Volume for Townhomes/Condos saw a 33.0% increase year-over-year, with $219.4 million in June 2017 compared to $165.0 million in June 2016.
Dollar Volume for Single Family Homes also had an increase of 13.0% year-over-year, with $474.2 million in 2017 versus $419.8 million in June 2016.

Median Sale Price

Median Sale Price for Single Family Homes was up 12.9% from last year, at $248,450 for June 2017 versus $220,000 for June 2016.
Median Sale Price for Town homes/Condos was $160,000 for June 2017, up 13.8% from $140,551 in June 2016.

Median Time to Contract for Single Family Homes was 23 days in June 2017, down 17.9% from last June.
Median Time to Sale for Single Family Homes was 69 days this June, down 4.2% from 72 days last June.

Average Sale Price for Single Family Homes grew 10.0%, at $327,052 in June 2017 versus $297,304 in June 2016.

The Townhomes/Condo market segment’s sales prices are still holding strong.

Median Time to Sale for Townhomes and Condos decreased 10.5% year-over-year at 77 days in June 2017 and 86 days in 2016.
Average Sale Price saw an 18.2% increase with $243,746 in June 2017 and $206,242 in June 2016.

Median Time to Contract for Townhomes and Condos was down 22.7% year-over-year, going from 44 days in June 2016 to 34 days in June 2017.

Year-over-year, Closed Sales for the Single Family segment were up 2.7%, and Closed Sales for the Townhomes/Condo segment were up 12.5%. New Listings for Single Family for June were 1,487, down 0.4% from last June, at 1,493. New Listings for Townhomes/Condo for June 2017 were at 888, up 16.7 from 761 in June 2016.

Inventory

The strong seller’s market continues in June, with Months Supply of Inventory down 7.4% year-over-year for Single Family Homes, with a 2.5 Month Supply this June, as compared to a 2.7 Month Supply in June 2016. Months Supply of Inventory for Townhomes/Condo fell 13.9%, with 3.1 months in June 2017 and 3.6 months in June 2016.

Pinellas Realtor Org. July 2017

Real Estate Report – Clearwater Beach May 2017

This May has seen a lot of stormy weather, but the real estate market continues to shine. Dollar Volume for Townhomes/Condos was $204.8 million in May 2017, an incredible increase of 27.8% from $160.2 million in May 2016.

Dollar Volume for Single Family Homes also had an amazing increase of 35.3% year-over-year, with $452.3 million in 2017 versus $334.4 million in May 2016.

Median Sale Price for Single Family Homes was up 14.4% from last year, at $230,000 for May 2017 versus $201,000 for May 2016.
Median Sale Price for Townhomes/Condos was $165,000 for May 2017, up 18.7% from $139,000 in May 2016.

Median Time to Contract
Median Time to Contract for Single Family Homes was 27 days in May 2017, down 3.6% from last May. Median Time to Sale for Single Family Homes was 70 days this May, down 5.4% from 74 days last May. Average Sale Price for Single Family Homes grew an astounding 23.4%, at $312,364 in May 2017 versus $253,121 in May 2016.

Sales Prices
The Townhomes/Condo market segment’s sales prices continue to grow. Median Time to Sale for Townhomes and Condos decreased 9.6% year-over-year at 75 days in May 2017 and 83 days in 2016. Average Sale Price saw a 13.9% increase with $234,382 in May 2017 and $205,711 in May 2016. Median Time to Contract for Townhomes and Condos was down 20.0% year-over-year, going from 40 days in May 2016 to 32 days in May 2017.

Closed Sales
Year-over-year, Closed Sales for the Single Family segment were up 9.6%, and Closed Sales for the Townhomes/Condo segment were up 12.2%. New Listings for Single Family for May were 1,494, up 2.0% from last May, at 1,464. New Listings for Townhomes/Condo for May 2017 were at 898, up 3.1% from 871 in May 2016.

Seller’s Market
The strong seller’s market continues in May, with Months Supply of Inventory down 10.7% year-over-year for Single Family Homes, with a 2.5 Month Supply this May, as compared to a 2.8 Month Supply in May 2016. Months Supply of Inventory for Townhomes/Condo fell 15.8%, with 3.2 months in May 2017 and 3.8 months in May 2016.

Pinellas Realtor Org. June 2017