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

 

Pinellas County Real Estate Statistics for February 2019

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 14.1% from $318,139 in February 2018 to $362,988 in February 2019. The Average Sale Price for Townhome/Condo was $329,617 in February 2019, up 40.7% from $234,296 in February 2018. The Months Supply of Inventory for Single Family Homes increased 19.2% year-over-year, with a 3.1 Month Supply this February, as compared to a 2.6 Month Supply in February 2018. The Months Supply of Inventory for Townhome/Condo rose 19.4% at 3.7 months in February 2019 from 3.1 months in February 2018.

The Median Sale Price for Single Family Homes was up by 8.5% from last year, at $265,000 for February 2019 versus $244,250 for February 2018. Dollar Volume for Single Family Homes saw a 12.1% increase from $295.9 million in February 2018 to $331.8 million in 2019. The Median Time to Contract for Single Family Homes was up 53.1% from 32 days in February 2018 to 49 days this February. The Median Time to Sale for Single Family Homes was 87days this February, up 19.2% from 73 days last February. New Listings for Single Family for February 2019 were 1,347, up 0.6% from February 2018 at 1,339. The Active Listings for Single Family Homes rose 15.2% from 2,976 in February 2018 to 3,429 in February 2019. Closed Sales for Single Family were down 1.7%, with 914 in February 2019 versus 930 in February 2018. Paid in Cash sales for Single Family increased 7.0%, from 273 in February 2018 to 292 in February 2019.

The Median Sale Price for Townhomes/Condos was $187,00 for February 2019, up 21.4% from $154,000 in February 2018. Dollar Volume for Townhome/Condo increased 48.9% year-over-year, with $156.3 million in February 2018 compared to $232.7 million in February 2019. The Median Time to Contract for Townhome/Condo market was 36 days in February 2019, up 28.6% from 28 days February 2018. The Median Time to Sale for Townhome/Condo market was 74 days in February 2019 and 65 days in February 2018, up 13.8%. New Listings for Townhome/Condos for February 2019 were at 1,010, up 0.4% from 1,006 in February 2018. Active Listings for Townhomes/Condos were up 17.5% from 2,349 in February 2018 to 2,760 in February 2019. Closed Sales for the Townhome/Condo segment increased 5.8% year over year, at 667 in February 2018 versus 706 in February 2019. Paid in Cash sales for Townhome/Condo decreased 2.8% from 395 in February 2018 to 384 in February 2019.

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.