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Pinellas County Real Estate Statistics for July 2018

The Pinellas County housing market hasn’t shown any let down in the year-over-year median sale price and median time to sale for Single Family Homes and Townhome/ Condos. The Median Sale Price for Single Family Homes was up by 4.2% from last year, at $250,000 for July 2018 versus $240,000 for July 2017. The Median Sale Price for Townhomes/Condos was $164,900 for July 2018, up 3.1% from $160,000 in July 2017. The Median Time to Sale for Single Family Homes was 61 days this July, down 7.6% from 66 days last July. Median Time to Sale for Townhome/Condo market was 72 days in July 2018 and 74 days in 2017, down at 2.7%.

The Average Sale Price for Single Family Homes rose from $312,210 in July 2017 to $320,584 in July 2018. The Median Time to Contract for Single Family Homes was 22 days in July 2018, up 15.8% from 19 days last July. The Months Supply of Inventory for Single Family Homes increased 12.0% year-over-year, with a 2.8 Month Supply this July, as compared to a 2.5 Month Supply in July 2017. New Listings for Single Family for July were 1,312, down 9.4% from last July, at 1,448. The Active Listings for Single Family Homes rose 2.4% from 3,049 in July 2017 to 3,122 in July 2018. Dollar Volume for Single Family Homes increased 1.6% year-over-year, with $383.1 million in 2018 versus $377.1 million in July 2017. Year-over-year, Closed Sales for the Single Family were down 1.1%, with 1,195 in July 2018 versus 1,208 in July 2017. Paid in Cash sales for Single Family increased 12.6%, from 294 in July 2017 to 331 in July 2018.

The Average Sale Price for Townhome/Condo was $225,849 in July 2018, down from $226,638 in July 2017. The Median Time to Contract for Townhome/Condo market was 31 days. It was 32 days in July 2017. The Months Supply of Inventory for Townhome/Condo fell 3.4%, from 2.9 months in July 2017 to 2.8 months in July 2018. New Listings for Townhome/Condos for July 2018 were at 793, up 4.8% from 757 in July 2017. Active Listings for Townhomes/Condos dipped 5.9% from 2,178 in July 2017 to 2,050 in July 2018. Dollar Volume for Townhome/Condo saw a 2.7% increase year-over-year, with $170.2 million in July 2017 compared to $174.8 million in July 2018. Closed Sales for the Townhome/Condo segment rose 3.1% year-over-year, at 751 in July 2017 versus 774 in July 2018. Paid in Cash sales for Townhome/Condo decreased 2.0%, from 410 in July 2017 to 402 in July 2018.

Representing almost 8,000 members, the Pinellas Realtor® Organization is one of the Tampa Bay area’s largest professional trade associations. The organization advances and promotes the real estate profession through professional development programs, government affairs, and political advocacy and maintains a high standard of conduct by real estate professionals through professional standards training and administration.