Pinellas County Real Estate Statistics for March 2017 – Pinellas Realtor Organization.
Presented by Oscar T Blasingame, Esq.
As we wrap up the first quarter of 2017, we are seeing some powerful numbers springing into the next season. Dollar Volume for Townhomes/Condos was $199.3 million in March 2017, an astonishing increase of 35.6% from $147.0 million in March 2016. Dollar Volume for Single Family Homes increased 21.5% year-overyear, with $408.9 million in 2017 versus $336.6 million in March 2016. Median Time to Contract for Townhomes and Condos was down 30.0% year-over-year, going from 40 days in March 2016 to 28 days in March 2017. Median Time to Contract for Single Family Homes was 30 days in March 2017, down 3.2% from last March. Median Time to Sale for Single Family Homes was 71 days this March, down 4.1% from 74 days last March. Median Sale Price for Single Family Homes was up 15.0% from last year, at $230,000 for March 2017 versus $200,000 for March 2016. Average Sale Price for Single Family Homes grew an astounding 16.0%, at $299,356 in March 2017 versus $258,152 in March 2016. The Townhome/Condo market segment’s sales prices are still holding strong. Median Time to Sale for Townhomes and Condos was down 9.1%, at 70 days in March 2017 and 77 days in March 2016. Median Sale Price for Townhomes/Condos was $139,000 for March 2017, up 4.5% from $133,000 in March 2016. Year-over-year, Closed Sales for the Single Family segment were up 4.8%, and Closed Sales for the Townhome/Condo segment grew an impressive 26.3%. New Listings for Single Family for March were 1,607, up 4.8% from last March, at 1,533. New Listings for Townhome/Condo for March 2017 were at 1,063, up 5.6% from 1,007 in March 2016. The strong seller’s market grew even stronger in March, with Months Supply of Inventory down 6.9% yearover-year for Single Family Homes, with a 2.7 Month Supply this March, as compared to a 2.9 Month Supply in March 2016. Months Supply of Inventory for Townhome/Condo fell an astounding 15.0%, with 3.4 months in March 2017 and 4.0 months in March 2016. Representing more than 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.
Information courtesy of the Pinellas Realtor Organization.
Download the entire report here Pinellas County Real Estate Statistics for March 2017.