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Pinellas County Real Estate Statistics for November 2017

As we near the end of 2017, the real estate market has held mostly steady. Median Time to Sale for Single Family Homes was 66 days this November, down 9.6% from 73 days last November. Median Sale Price for Single Family Homes was up 6.0% from last year, at $233,000 for November 2017 versus $219,900 for November 2016. Median Time to Contract for Townhomes and Condos was down 23.7% year-over-year, going from 38 days in November 2016 to 29 days in November 2017.

Year-over-year, Closed Sales for the Single Family segment in November were down 5.7%. Dollar Volume for Single Family Homes decreased 3.6% year-over-year, with $292.0 million in 2017 versus $303.0 million in November 2016. Median Time to Contract for Single Family Homes was 26 days in November 2017, the same as last November. Average Sale Price for Single Family Homes grew 2.2%, at $283,204 in November 2017 versus $277,227 in November 2016. New Listings for Single Family for November were 1,241, down 5.8% from last November, at 1,536.

Closed Sales for the Townhomes/Condo segment were down 3.6%. Median Time to Sale for Townhomes and Condos decreased 19.2% year-over-year at 63 days in November 2017 and 78 days in 2016. Average Sale Price had a 0.7% decrease with $212,649 in November 2017 and $214,146 in November 2016. Median Sale Price for Townhomes/Condos was $161,500 for November 2017, up 9.5% from $147,500 in November 2016. Dollar Volume for Townhomes/Condos saw a 4.3% decrease year-over-year, with $140.8 million in November 2017 compared to $147.1 million in November 2016. New Listings for Townhomes/Condo for November 2017 were at 842, up 1.8% from 827 in November 2016.

The seller’s market continues in November, with Months Supply of Inventory down 10.3% year-over-year for Single Family Homes, with a 2.6 Month Supply this November, as compared to a 2.9 Month Supply in November 2016. Months Supply of Inventory for Townhomes/Condo fell a dramatic 17.1%, with 2.9 months in November 2017 and 3.5 months in November 2016.   

Representing more than 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.