Pinellas real estate statistics provided by the Pinellas Realtor Organization (PRO).
Pinellas Real Estate Statistics for February 2017: An Overview.
By Oscar T Blasingame, Esq., St. Petersburg, Florida
This February’s Pinellas real estate statistics has boasted some impressive figures for both the Single Family Homes and the Townhouses and Condos sectors. Dollar Volume for Townhome/Condo was $153.0 million in February 2017, an incredible increase of 30.0% from $117.7 million in February 2016. Median Sale Price for Single Family Homes was up 16.8% from last year, at $222,000 for February 2017 versus $190,000 for February 2016. Median Sale Price was $149,500 for February 2017, up 20.6% from $124,000 in February 2016. Average Sale Price grew an astounding 25.0%, with $236,827 in February 2017 and $189,521 in February 2016.
Median Time to Contract for Single Family Homes was 38 days in February 2017, the same as last February. Median Time to Sale for Single Family Homes was 81 days this February, down just 1.2% from 82 days last February. Dollar Volume for Single Family Homes increased 4.8% year-over-year, with $271.8 million in 2017 versus $259.3 million in February 2016.
The Pinellas real estate statistics show that Condo/Townhome market segment’s sales prices are still holding strong. Median Time to Contract for Townhomes and Condos was down 4.1% year-over-year, going from 49 days in February 2016 to 47 days in February 2017. Median Time to Sale for Townhomes and Condos was down 3.4%, at 91 days in February 2017 and 88 days in February 2016.
Year-over-year, Closed Sales for the Single Family segment were down 6.2%, and Closed Sales for the Townhome/Condo segment grew 4.0%. New Listings for Single Family for February were 1,370, down 9.8% from last February, at 1,519. New Listings for Townhome/Condo for February 2017 were at 974, down 6.1% from 1,037 in February 2016.
The February 2017 Pinellas real estate statistics indicate that a strong seller’s market continues, with Months Supply of Inventory down 3.4 year-over-year for Single Family Homes, with a 2.8 Month Supply this February, as compared to a 2.9 Month Supply in February 2016. Months Supply of Inventory for Townhome/Condo fell an astounding 14.6%, with 3.5 months in February 2017 and 4.1 months in February 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.
(Pinellas real estate statistics above were provided by the Pinellas Realtor Organization.)
My name is Oscar Blasingame and I am a Realtor and a licensed Florida Attorney with over 20 years of experience. I’m here to provide you with experienced, knowledgeable, and proactive real estate services. Whether you are thinking of buying or selling a home, commercial property, or income property in St. Petersburg or the beaches I will work with you to find the right property.
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Pinellas Real Estate Statistics for February, 2017