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

 

Pinellas County Real Estate Statistics for November 2018

Pinellas County continues to see a rise in year over year sale prices and months supply of inventory. The Average Sale Price for Single Family Homes rose 17.4% from $283,204 in November 2017 to $332,342 in November 2018. The Average Sale Price for Townhome/Condo was $291,228 in November 2018, up 37.0% from $212,649 in November 2017. The Months Supply of Inventory for Single Family Homes increased 15.4% year-over-year, with a 3.0 Month Supply this November, as compared to a 2.6 Month Supply in November 2017. The Months Supply of Inventory for Townhome/Condo rose 10.3% at 3.2 months in November 2018 from 2.9 months in November 2017.

The Median Sale Price for Single Family Homes was up by 12.2% from last year, at $261,500 for November 2018 versus $233,000 for November 2017. Dollar Volume for Single Family Homes saw a 12.1% increase from $292.0 million in November 2017 to $327.4 million in 2018. The Median Time to Contract for Single Family Homes was 26 days in November 2018 and 26 days last November. The Median Time to Sale for Single Family Homes was 65 days this November, down 1.5% from 66 days last November. New Listings for Single Family for November 2018 were 1,287, up 3.7% from November 2017 at 1,241. The Active Listings for Single Family Homes rose 13.3% from 3,025 in November 2017 to 3,427 in November 2018. Closed Sales for Single Family were down 4.5%, with 985 in November 2018 versus 1,031 in November 2017. Paid in Cash sales for Single Family decreased 8.2%, from 294 in November 2017 to 270 in November 2018.

The Median Sale Price for Townhomes/Condos was $169,900 for November 2018, up 5.2% from $161,500 in November 2017. Dollar Volume for Townhome/Condo increased 50.6% year-over-year, with $140.8 million in November 2017 compared to $212.0 million in November 2018. The Median Time to Contract for Townhome/Condo market was 26 days in November 2018, down 10.3% from 29 days November 2017. The Median Time to Sale for Townhome/Condo market was 64 days in November 2018 and 63 days in November 2017, up 1.6%. New Listings for Townhome/Condos for November 2018 were at 979, up 16.3% from 842 in November 2017. Active Listings for Townhomes/Condos were up 10.5% from 2,181 in November 2017 to 2,410 in November 2018. Closed Sales for the Townhome/Condo segment increased 10.0% year over year, at 662 in November 2017 versus 728 in November 2018. Paid in Cash sales for Townhome/Condo increased 15.3%, from 340 in November 2017 to 392 in November 2018.

Representing over 9,000 members, the Pinellas Realtor® Organization/Central Pasco Chapter 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.