Clearwater Beach Real Estate Market News Archives

Clearwater Beach Real Estate Report May 2016

Clearwater Beach Real Estate – Working with a Realtor® in a seller’s market like the one we’re currently seeing in Pinellas County is vital. Only a Realtor® can see what can’t be uncovered in a simple online search, understands the local market and can help you win in a competitive environment.

The number of Closed Sales for Single Family and Townhome/Condo combined for May 2016 was 2,107, up 3.9% from 2,028 in May 2015. Year-over-year, closed sales for the Single Family segment was way up at 9.4%, and Closed Sales for the Townhome/Condo segment was down at -4.3%.

Median Time to Contract for Single Family was down 20% year-over-year, going from 28 days in May 2016 to 35 days in May 2015.
Median Time to Sale for Single Family was just 74 days in May 2016, down from 79 days in May 2015 (down 6.3%).
For Townhome/Condo Median Time to Sale was 83 days this May, versus 87 days in May 2015, a -4.6% change year-over-year.

Median Sale Price for Single Family was $200,000 this May, versus $185,000 last May, a sizable increase of 8.1%. Median Sale Price for the Townhome/Condo segment was also up from last May at 6.3%, at $138,250 for May 2016 versus $130,000 for May 2015.

Median Percent of Original List Price Received for Single Family was 96.4% in May 2016, up 0.9% from 95.5% in May 2015. Townhome/Condo was 94.6% in May 2016, up 0.9% from 93.8% in May 2015.

New Listings for Single Family for May 2016 were 1,460, up 2.7% from last May, when they were 1,422.
New Listings for Townhome/Condo for May 2016 were 859, up 2.9% from 835 in May 2015.

Months Supply of Inventory for Single Family continues to reflect the lack of homes listed for sale, down 15% year-over-year, with a 3.4 month supply this May, as compared to a 4.0-month supply in May 2015. Months Supply of Inventory for Townhome/Condo was down 8.7% year-over-year, with 4.2-month in May 2016 compared to 4.6 months in May 2015. Active listings for May 2016 Single Family and Townhome/Condo combined were 6,991, down 5.7% from 7,417 in May 2015.

Pinellas Realtor® Organization, June 2016

Clearwater Real Estate Report – May 2016

Pinellas-Realtor Single Family Inventory is down 9.6% from April 2015 and Single Family is sitting at a 3.4 month supply of inventory for April 2016, the same as March 2016.

With Median Sale Price up 11.1% year-over-year for April, and Median Time to Contract down a blistering 30% from 40 days in April 2015 to 28 days in April 2016, buyers can continue to expect a very competitive Single Family market in Pinellas County.

The number of closed sales for Single Family and Townhome/Condo combined for April 2016 was 2,202, up 4.8% from 2,102 in April 2015. Year-over-year, the Single Family segment was up 0.9% and the Townhome/Condo segment was up considerably at 10.6%.

Median Time to Sale for Single Family was just 73 days in April 2016, down from 83 days in April 2015 (down 12.0%).

Median Sale Price for Single Family was $200,000 this April, versus $180,000 last April, a substantial increase of 11.1%.
Median Sale Price for the Townhome/Condo segment was also up from last April at 9.1%, at $138,000 for April 2016 versus $126,500 for April 2015.
Median Percent of Original List Price Received for Single Family was 95.9% in April 2016, up 0.9% from 95.0% in April 2015. Townhome/Condo was 95.0% in April 2016, up 1.2% from 93.9% in April 2015.
New Listings for Single Family for April 2016 were 1,512, up 3.9% from last April, when they were 1,455. New Listings for Townhome/Condo for April 2016 were 952, up 3.9% from 916 in April 2015.

Months Supply of Inventory for Single Family was way down again, at 17.1% from last April, with a 3.4 month supply this April, as compared to a 4.1 month supply in April 2015. Months Supply of Inventory for Townhome/Condo was down 12.2% year-over-year, with 4.3 months in April 2016 compared to 4.9 months in April 2015.

Active listings for April 2016 Single Family and Townhome/Condo combined were 7,035, down 7.0% from 7,562 in April 2015.

Pinellas REALTOR® Organization, May 2016

Clearwater Beach Real Estate Report for March

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

Housing Market Report – March 2016

Housing Market Report

market report In Florida, buyers closed on 18,159 single-family homes in January 2016, up 0.4 percent, but condo sales fell 5.4 percent to 7,658 units.

Homes statewide sold for a median $200,000, 11.1 percent more than last year, while condos traded for $150,000, a 5.6 percent gain.

“The trends we’re seeing in closed sales and new listings have led to two straight months of rising inventory levels in both property type categories,” said Florida Realtors chief economist Brad O’Connor. “Single-family home inventory was still 3.8 percent lower than it was at the end of February 2015, but this is still an improvement over January’s 7.4 percent year-over-year decline.

“Year-over-year inventory growth in the condo/townhome market, on the other hand, was strongly positive for a change, at 6 percent,” he said.

The trade group has revised prior-years’ results to reflect a new data collection system started last month, but it said revisions were minor.

In the nation

Nationwide, Americans retreated from home-buying in February, reversing months of prior gains as low inventories pushed up prices to levels that restrict sales.

The National Association of Realtors said sales of existing homes fell 7.1 percent last month to a seasonally adjusted annual rate of 5.08 million. The decline follows robust yearly sales rates of 5.47 million in January and 5.45 million in December.

The housing market enters the traditional spring buying season facing a quandary: There are relatively few properties listed for sale, even as steady job gains and low mortgage rates have bolstered demand from would-be buyers. The limited supplies have fueled rising prices that have, in turn, reduced affordability and limited sales levels. These cost pressures were further enhanced by a volatile stock market that hit down payment savings.

“We assume the plunge in the stock market in the first six weeks of this year persuaded some potential homebuyers to reconsider, at least temporarily,” said Ian Shepherdson, chief economist at Pantheon Macroeconomics.

Shepherdson noted that sales momentum “stalled” in February, but sales volumes might pick up in the spring.

The national median home sales price was $210,800 in February, a 4.4 percent annual increase from a year ago.

Herald Tribune March 21, 2016

Pinellas County Real Estate Overview for January

Pinellas County Real Estate

Pinellas County Real Estate Report — January 2016 — One of the most impressive figures in the table below is found in the median sales price and average sales price categories.

According to the Florida Association of Realtors®, the Median Sales Price from January of 2015 to January of 2016 increased by over 23 percent. The Average Sale Price from January of 2015 to January of 2016 increased by over 18 percent.

Median Sale Price – The median sale price reported for the month (i.e. 50% of sales were above and 50% of sales were below).

Average Sale Price – The average sale price reported for the month (i.e. total sales in dollars divided by the number of sales).

Economists’ note: Median Sale Price is our preferred summary statistic for price activity because, unlike Average Sale Price, Median Sale Price is not sensitive to high sale prices for small numbers of homes that may not be characteristic of the market area.

From the Florida Association of Realtors® – Summary for January 2016 – February 24, 2016

See the Full Report

Summary	January 2016	January 2015	Percent Change Year
Closed Sales	841	782	7.5%
Pending Sales	795	904	-4.5%
Paid in Cash	319	334	-12.2%
New Listings	1,555	1557	2.5%
Median Sale Price	$193,500	$156,500	23.6%
Average Sale Price	$263,728	$222,350	18.6%

Florida Housing Market Report December 2015

The year of 2015 saw a true rebound in Florida Housing Values

Statewide, single-family sales totaled 23,056 last month, up 2.9 percent over the year.
Condo sales fell 1.2 percent to 9,357, according to the Florida Realtors trade group.
Homes sold for a median of $206,500, which was 11.6 percent more than last year.
Condos traded for $156,500, up 5.0 percent.

“Florida’s real estate markets remained quite healthy in December,” said Brad O’Connor, chief economist at Florida Realtors. “Closed sales remain strong, and prices continue to rise.

“Inventory levels of single-family homes dropped to an annual low for 2015 at the end of December, to just under 100,000 active listings,” he added.

Nationwide
Nationwide, total home sales in 2015 were the most in nine years, as closings rebounded in December after new regulations had delayed the completion of purchases in November.

The National Association of Realtors said sales of existing homes climbed 14.7 percent last month to a seasonally adjusted annual rate of 5.46 million. Sales had previously plummeted as the industry adapted to new mortgage disclosure rules — a temporary downturn before delayed sales were finalized in December.

“This is a great way to cap off 2015,” said Jennifer Lee, a senior economist at BMO Capital Markets.

Last month’s rebound concluded a year that produced the highest annual sales total since 2006. Steady job growth and low mortgages drew more buyers into the market, causing both sales and prices to climb.

Americans bought roughly 5.26 million homes in 2015, a 6.5 percent increase over 2014. The median sales price rose 6.8 percent to $222,400.

The Realtors forecast that sales will stay flat in 2016 and that the median price will rise more than 4 percent. A price increase that big would compound a problem for many would-be buyers: A rising proportion of homes are unaffordable as home values rose last year at more than twice the rate of pay.

Herald Tribune January 22, 2016

Pinellas County Real Estate Report for December 2015

The year came to a strong close for Pinellas County Real Estate, with closed sales up 4.5% for December 2015 over December 2014, and up 24.7% for the year compared to 2014 (22,952 units in 2015 and 20,007 units in 2014).

The sold dollar volume was up a whopping 21.7% year over year, from $4.1 billion in 2014, to $5 billion in 2015. Average sale price for a single family home was $247,860 in December 2015, up 5.0% from last December ($236,078).

The average sale price for townhome/condo was $191,346, up 7.7% from $177,632 a year ago.
The number of closed sales for single family and townhome/condo combined for December 2015 was 1,955, up 4.5% from 1,870 in December 2014.

New single family listings for December 2015 were 1,131, down 1.5% from December 2014, at 1,148. Median sales price for single family was $186,450 this December, versus $169,000 last December, an increase of 10.3%.

Inventory Remains Low as Median Prices Continue to Rise

The Median sale price for the townhome/condo segment was up 9.2% for December 2015 ($131,000) over December 2014 ($120,000). December 2015 saw only 44 median days on market for single family, down 15.4% from December 2014, when the count was 52. For townhome/condo, the median days on the market were also low, at 49 in December 2015, down 29.0% from 69 days in December 2014.

Total month supply of inventory is down 21.1% from last December for single family, with a 3.3 month supply this December as compared to a 4.2 month supply in December 2014.
Active listings for December 2015 single family and townhome/condo combined were 6,575, down 9.8% from 7,287 in December 2014.
Both stats continue to show the low inventory we’ve seen throughout 2015.

Representing more than 6,000 members, the PINELLAS REALTOR® ORGANIZATION is one of the Tampa Bay area’s largest professional trade associations.

Pinellas Realtors® January 2016