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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
