Clearwater Beach Real Estate
Pinellas County Real Estate Statistics for March 2016
Homes got to contract quicker, closed faster, and sold for more money year-over-year for March of 2016.
The number of closed sales for Single Family and Townhome/Condo combined for March 2016 was 2,069, up 1.9% from 2,030 in March 2015. Year-over-year, the Single Family segment was up big at 18.7% and the Townhome/Condo segment was down 2.2%.
For Single Family, Median Time to Contract was a blistering 31 days in March 2016, compared to 44 days in March 2015 (down 29.5%). Median Time to Sale for Single Family was just 73 days in March 2016, down from 87 days in March 2015 (down 16.1%). This reporting and feedback from members indicates the TRID policies implemented October 1, 2015 have not slowed the closing process as many had feared.
Median Sale Price for Single Family was $200,000 this March, versus $175,000 last March, a wide increase of 14.3%.
Median Sale Price for the Townhome/Condo segment was also up from last March at 10.2%, at $132,000 for March 2016 versus $120,000 for March 2015.
Last month Florida Realtors® added the Median Percent of Original List Price Received stat. For Single Family, it was 95.9% in March 2016, up 1.8% from 94.2% in March 2015. Townhome/Condo was 94.5% in March 2016, up .07% from 93.8% in March 2015.
- New Single Family listings for March 2016 were 1,533, down a bit at 0.5% from last March, when they were 1,540.
- New Townhome/Condo listings for March 2016 were 1,007, up 5.4% from 955 in March 2015.
- Months Supply of Inventory for Single Family was way down at 19.0% from last March, with a 3.4 month supply this March, as compared to a 4.2 month supply in March 2015.
- Months Supply of Inventory for Townhome/Condo was down 11.8% year-over-year, with 4.5 months in March 2016 compared to 5.1 months in March 2015.
Active listings for March 2016 Single Family and Townhome/Condo combined were 7,125, down
7.9% from 7,734 in March 2015.
Pinellas Realtor® Organization April 2016