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

 

Pinellas County Real Estate Statistics for September 2018

 

Due to Hurricane Irma last year in September, the Pinellas County housing market saw a few large swings in sales & listings year-over-year. While there has been a decline in sales nationwide, Closed Sales for Single Family were up 11.0%, with 998 in September 2018 versus 899 in September 2017. Dollar Volume for Single Family Homes saw a 19.6.0% increase from $284.6 million in September 2017 to $340.5 million in 2018. Dollar Volume for Townhome/Condo increased 2.7% year-over-year, with $146.0 million in September 2017 compared to $149.8 million in September 2018. The Median Sale Price for Single Family Homes was up by 3.2% from last year, at $256,000 for September 2018 versus $248,000 for September 2017. The Median Sale Price for Townhomes/Condos was $167,000 for September 2018, up 12.1% from $149,000 in September 2017.

The Average Sale Price for Single Family Homes rose 7.8% from $316,533 in September 2017 to $341,152 in September 2018. The Median Time to Contract for Single Family Homes was 30 days in September 2018, up 30.0% from 23 days last September. The Median Time to Sale for Single Family Homes was 68 days this September, up 1.5% from 67 days last September. The Months Supply of Inventory for Single Family Homes increased 7.7% year-over-year, with a 2.8 Month Supply this September, as compared to a 2.6 Month Supply in September 2017. New Listings for Single Family for September were 1,203, up 40.2% from last September, at 858. The Active Listings for Single Family Homes rose 3.2% from 3,027 in September 2017 to 3,123 in September 2018. Paid in Cash sales for Single Family increased 28.6%, from 245 in September 2017 to 315 in September 2018.

The Average Sale Price for Townhome/Condo was $232,290 in September 2018, up 3.3% from $224,894 in September 2017. The Median Time to Contract for Townhome/Condo market was 30 days in September 2018, down 21.1% from 38 days last September. The Median Time to Sale for Townhome/Condo market was 66 days in September 2018 and 78 days in 2017, down at 15.4%. The Months Supply of Inventory for Townhome/Condo fell 3.6% at 2.7 months in September 2018 and 2.8 months September 2017. New Listings for Townhome/Condos for September 2018 were at 774, up 26.1% from 614 in September 2017. Active Listings for Townhomes/Condos dipped 1.8% from 2,097 in September 2017 to 2,060 in September 2018. Closed Sales for the Townhome/Condo segment slightly decreased 0.6% year-over-year, at 649 in September 2017 versus 645 in September 2018. Paid in Cash sales for Townhome/Condo decreased 7.3%, from 358 in September 2017 to 332 in September 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.