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Pinellas Realtor Organization President & CEO David Bennett writes:
Pinellas County wrapped up a sizzling 2017 with a steady month in December. Both the Single Family and
Townhome/Condo markets are seeing higher sale prices and units moving at a faster rate. Median Time to
Sale for Single Family Homes was 66 days this December, down 9.6% from 73 days last December. Median
Sale Price for Single Family Homes was up 7.9% from last year, at $239,900 for December 2017 versus $222,250
for December 2016. Average Sale Price for Single Family Homes grew 9.4%, at $303,016 in December 2017
versus $276,945 in December 2016. Median Time to Contract for Townhomes and Condos was way down, at
36.4% year-over-year, going from 44 days in December 2016 to 28 days in December 2017. Median Time to
Sale for Townhomes and Condos was 63 days in December 2017 and 84 days in 2016, way down at 25%.
Year-over-year, Closed Sales for the Single Family segment in December were down 4.3%, with 1,137 in
December 2017 versus 1,188 in December 2016. Dollar Volume for Single Family Homes increased 4.7%
year-over-year, with $344.5 million in 2017 versus $329.0 million in December 2016. Median Time to Contract
for Single Family Homes was 28 days in December 2017, down 9.7% from 31 days last December. New
Listings for Single Family for December were 935, down 6.0% from last December, at 995.
Closed Sales for the Townhomes/Condos segment were up 9.8% year-over-year, at 754 in December 2017
versus 687 in December 2016. Average Sale Price for Townhome/Condo was $240,497 in December 2017
and $215,214 in December 2016. Median Sale Price for Townhomes/Condos was $162,000 for December
2017, up 14.1% from $142,000 in December 2016. Dollar Volume for Townhomes/Condos saw a 22.6%
increase year-over-year, with $181.3 million in December 2017 compared to $147.9 million in December
2016. New Listings for Townhomes/Condo for December 2017 were at 646, down 5.0% from 680 in December
Inventory continues to shrink, with Months Supply of Inventory down 10.7% year-over-year for Single Family
Homes, with a 2.5 Month Supply this December, as compared to a 2.8 Month Supply in December 2016.
Months Supply of Inventory for Townhomes/Condo fell a dramatic 20.6%, with 2.7 months in December 2017
and 3.4 months in December 2016.
Call me if you’re thinking of buying or selling a house or condo in the area.
You can see all property listings for sale in the beach towns from Clearwater Beach to St Pete Beach, and the cities near the beach, on my website at www.floridagulfbeachrealty.com.
Tom Slaughter, Realtor
Century 21 Coast to Coast, Clearwater Beach, FL 33767