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Average Sale Prices and Median Prices Rise

sale prices - clearwater beach real estate

Pinellas County continues to see a rise in year over year average sale prices and median sale price.

The Average Sale Price for Single Family Homes rose 3.5% from $338,828 in May 2018 to $350,539 in May 2019.
The Average Sale Price for Townhome/Condo was up 16.2% from $228,449 in May 2018, to $265,513 in May 2019.

The Median Sale Price for Single Family Homes was up by 7.1% from last year, at $253,000 for May 2018 versus $271,000 for May 2019. The Median Sale Price for Townhomes/Condos increased 6.0% from $166,000 in May 2018 to $175,900 in May 2019.

Single Family
Dollar Volume for Single Family Homes saw a 17.7% increase from $433.4 million in May 2018 to $510.0 million in 2019. The Median Time to Contract for Single Family Homes was up 50.0% from 22 days in May 2018 to 33 days this May. The Median Time to Sale for Single Family Homes was up 12.5% from 64 days last May to 72 days this May.

The Months Supply of Inventory for Single Family Homes remained the same year-over-year at 2.8 months. New Listings for Single Family for May 2019 were 1,396, down 14.1% from May 2018 at 1,626. The Active Listings for Single Family Homes slightly decreased 1.3% from 3,075 in May 2019 versus 3,117 in May 2018. Closed Sales for Single Family were up 13.8% from 1,279 in May 2018 to 1,455 in May 2019. Paid in Cash sales for Single Family increased 1.9%, from 364 in May 2018 to 371 in May 2019.

Townhome/Condo
Dollar Volume for Townhome/Condo increased 13.9% year-over-year from $209.5 million in May 2018 to $238.7 million in May 2019. The Median Time to Contract for Townhome/Condo market increased 16.7% from 36 days in May 2018 to 42 days May 2019. The Median Time to Sale for Townhome/Condo market was 72 days in May 2018 and 81 days in May 2019, up 12.5%.

The Months Supply of Inventory for Townhome/Condo rose 10.3% at 2.9 months in May 2018 to 3.2 months in May 2019. New Listings for Townhome/Condos for May decreased 6.4% from 845 in 2019, versus 903 in 2018. Active Listings for Townhomes/Condos were up 16.5% from 2,250 in May 2018 to 2,622 in May 2019. Closed Sales for the Townhome/Condo segment decreased 2.0% year over year, at 899 in May 2019 versus 917 in May 2018. Paid in Cash sales for Townhome/Condo decreased 10.8% from 453 in May 2019 versus 508 in May 2018.

Pinellas Realtor® Organization June 21, 2019

Sales Prices and Inventory Rise

Prices and Inventory Increase for single-family and condos. Clearwater Beach Real Estate News – April 2019

Average Sale Price

The Average Sale Price for Single Family Homes rose 6.6% from $334,814 in April 2018 to $357,070 in April 2019. The Average Sale Price for Townhome/Condo was up 10.2% from $236,321 in April 2018, to $260,436 in April 2019.

Inventory

The Months Supply of Inventory for Single Family Homes increased 11.5% year-over-year, with a 2.6 Months Supply last April, as compared to a 2.9 Months Supply this April. The Months Supply of Inventory for Townhome/Condo rose 13.3% at 3.0 months in April 2018 to 3.4 months in April 2019.

Single Family

The Median Sale Price for Single Family Homes was up by 6.8% from last year, at $252,750 for April 2018 versus $269,950 for April 2019. Dollar Volume for Single Family Homes saw a 4.6% increase from $409.8 million in April 2018 to $428.5 million in 2019.

The Median Time to Contract for Single Family Homes was up 18.5% from 27 days in April 2018 to 32 days this April. The Median Time to Sale for Single Family Homes was up 9.1% from 66 days last April to 72 days this April.

New Listings for Single Family for April 2019 were 1,380, down 4.8% from April 2018 at 1,449. The Active Listings for Single Family Homes rose 7.7% from 2,955 in April 2018 to 3,184 in April 2019.

Closed Sales for Single Family were down 2.0%, with 1,200 in April 2019 versus 1,234 in April 2018. Paid in Cash sales for Single Family decreased 10.9%, from 303 in April 2019 versus 340 in April 2018.

Townhome/Condo

The Median Sale Price for Townhomes/Condos was $165,000 for April 2019, down 2.9% from $170,000 in April 2018. Dollar Volume for Townhome/Condo increased 9.1% year-over-year, with $205.4 million in April 2018 compared to $224.0 million in April 2019.

The Median Time to Contract for Townhome/Condo market increased 33.3% from 30 days in April 2018 to 40 days April 2019. The Median Time to Sale for Townhome/Condo market was 70 days in April 2018 and 75 days in April 2019, up 7.1%.

New Listings for Townhome/Condos for April decreased 8.0% from 928 in 2019, versus 1,009 in 2018. Active Listings for Townhomes/Condos were up 16.5% from 2,250 in April 2018 to 2,622 in April 2019.

Closed Sales for the Townhome/Condo segment decreased 1.0% year over year, at 860 in April 2019 versus 869 in April 2018. Paid in Cash sales for Townhome/Condo decreased 12.7% from 435 in April 2019 versus 498 in April 2018.

Pinellas Realtor® Organization May 2019

U.S. Home Prices Reach Record High for Sixth Straight Month

U.S. home prices reached a new high in May for the sixth straight month, which may raise fears of another housing bubble roughly a decade after a previous one burst.

The index

Case-Shiller Home Prices Index

Community; one-year change

Seattle +13.3%
Portland, Ore. +8.9%
Denver +7.9%
Dallas +7.8%
Detroit +7.6%
Las Vegas +6.9%
Tampa +6.8%
San Diego +6.6%
Boston +6.1%
Charlotte, N.C. +6.1%
Minneapolis +5.7%
Phoenix +5.7%
Los Angeles +5.6%
Atlanta +5.5%
San Francisco +5.4%
Miami +5.3%
New York +4%
Cleveland +3.6%
Washington D.C. +3.6%
Chicago +3.3%

Source: Standard & Poor’s

The Standard & Poor’s CoreLogic national home price index, released Tuesday, increased 5.6 percent in May, the latest data available. It is now 3.2 percent higher than its July 2006 peak.

Some analysts downplay the notion of a new bubble, and the unrelenting price increases may already be cooling sales. Other aspects of the last decade’s housing boom and bust, such as rapid sales increases and surging home building, are not happening now.

“Price increases vary across the country, unlike the earlier period when rising prices were almost universal,” David Blitzer, chairman of the Index Committee at S&P, said.

A separate price index maintained by the National Association of Realtors is also rising steadily, though it remains about 9 percent below its 2006 peak. The S&P CoreLogic index tracks the same houses over time and is generally considered a better gauge of price changes, while the NAR’s measure is affected by the proportion of higher-priced or lower-priced homes on the market.

Tampa and Miami are included in the list of 20 cities. Tampa saw prices rise 6.8 percent during the last 12 months, while Miami saw an increase of 5.3 percent.

The national picture

Much of the price gain measured by the Case-Shiller Index is being driven by Seattle; Portland, Oregon; and San Francisco.

Herald Tribune July 25, 2017

Clearwater Beach Real Estate Report for June 2016

Pinellas-Realtor Pinellas/Clearwater Beach Real Estate Report – June 2016
The Absorption Rate for the Single Family real estate market has been steadily rising this year, and is at an all-time high, not just for 2016, but dating back to at least January 2012. The Absorption Rate is the rate at which homes are selling in a given time frame. Mortgage interest rates dropped after the Brexit vote and continue to remain low, which could push new buyers and investors into the market. Find your piece of paradise on Clearwater Beach.

The number of Closed Sales for Single Family and Townhome/Condo combined for June 2016 was 2,222, up 1.5% from 2,190 in June 2015. Year-over-year, closed sales for the Single Family segment were up at 0.3%, and Closed Sales for the Townhome/Condo segment were up 3.6%. New Listings for Single Family and Townhome/Condo combined were up 3.9% for June 2016 over June 2015, at 2,254 versus 2,170 last year.

Median Time to Contract for Single Family was down 9.7% year-over-year, going from 31 days in June 2015 to 28 days in June 2016. Median Time to Sale for Single Family was just 72 days in June 2015, down from 76 days in June 2016 (down 5.3%). For Townhome/Condo Median Time to Sale was 86 days this June, versus 93 days in June 2015, a -7.5% change year-over-year.

Median Sale Price for Single Family was $220,000 this June, versus $185,000 last June, a huge increase of 18.9%.
Median Sale Price for the Townhome/Condo segment was also way up from last June at 16.7%, at $140,000 for June 2016 versus $120,000 for June 2015.

Dollar Volume for Single Family was $419.8 million in June 2016, up 18.3% from $354.9 million in June 2015.

Dollar Volume for Townhome/Condo was $165.0 million in June 2016, up 14.9% from $143.5 million in June 2015.

New Listings for Single Family for June 2016 were 1,493, up 5.2% from last June, when they were 1,419.

New Listings for Townhome/Condo for June 2016 were 761, up 1.3% from 751 in June 2015.

Months Supply of Inventory for Single Family continues to reflect the seller’s market, with inventory down 13.2% year-over-year, with a 3.3 month supply this June, as compared to a 3.8 month supply in June 2015. Months Supply of Inventory for Townhome/Condo was down 9.1% year-over-year, with 4.0 months in June 2016 compared to 4.4 months in June 2015. Active listings for June 2016 Single Family and Townhome/Condo combined were 6,707, down 6.9% from 7,207 in June 2015.

Pinellas Realtor® Association July 2016

real estate report - June 2016 - Pinellas

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