This research is brought to you by the Pinellas REALTOR Organization.

 

Pinellas County Real Estate Statistics for May 2018

For the second consecutive month, New Listings for Single Family Homes and Townhome/Condo markets increased year-over-year in Pinellas County. New Listings for Single Family for May were 1,626, up 8.8% from last May, at 1,494. New Listings for Townhome/Condos for May 2018 were at 903, up 0.6% from 898 in May 2017. The combined Housing Inventory in Pinellas County is seeing less of a decline compared to prior months in 2018. The Active Listings for Single Family Homes rose 4.0%  from 2,996 in May 2017 to 3,117 in May 2018. Active Listings for Townhomes/Condos dipped 10.1% from 2,383 in May 2017 to 2,143 in May 2018.

The Median Sale Price for Townhomes/Condos was $166,000 for May 2018, up 0.6% from $165,000 in May 2017.  The Median Sale Price for Single Family Homes was up by 10.0% from last year, at $253,00 for May 2018 versus $230,000 for May 2017.  The Months Supply of Inventory for Single Family Homes  increased 12.0% year-over-year, with a 2.8 Month Supply this May, as compared to a 2.5 Month Supply in May 2017.  The Months Supply of Inventory for Townhome/Condo fell 9.4%, from 3.2 months in May 2017 to 2.9 months in May 2018.

The Average Sale Price for Single Family Homes rose from $312,364 in May 2017 to $338,828 in May 2018.  The Median Time to Contract for Single Family Homes was 22 days in May 2018, down 18.5% from 27 days last May. The Median Time to Sale for Single Family Homes was 64 days this May, down 8.6% from 70 days last May.  Dollar Volume for Single Family Homes decreased 4.2% year-over-year, with $433.4 million in 2018 versus $452.3 million in May 2017. Year-over-year, Closed Sales for the Single Family were down 11.7%, with 1,279 in May 2018 versus 1,448 in May 2017. Paid in Cash sales for Single Family decreased 17.8%,  from 443 in May 2017 to 364 in May 2018.

The Average Sale Price for Townhome/Condo was $228,449 in May 2018, down from $234,382 in May 2017.  The Median Time to Contract for Townhome/Condo market was 36 days. It was 32 days in May 2017.  Median Time to Sale for Townhome/Condo market was 72 days in May 2018 and 75 days in 2017, down at 4.0%. Dollar Volume for Townhome/Condo saw a 2.3% increase year-over-year, with $209.5 million in May 2018 compared to $204.8 million in May 2017. Closed Sales for the Townhome/Condo segment rose 4.9% year-over-year, at 917 in May 2018 versus 874 in May 2017. Paid in Cash sales for Towhnhome/Condo increased 11.2%, from 457 in May 2017 to 508 in May 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.