September 2016 Pinellas County Real Estate Market Update
At this time of year everyone starts to get in the spirit for the holidays.
Pinellas Realtor Organization is sharing some stats from the Pinellas County Housing Department.
Pending Inventory for Townhouses and Condos has climbed up to 18.9% over the past year, with 830 listings this year compared to 698 in September of 2015.
Median Sale Price, Average Sale Price, and Dollar Volume for Single Family Homes have increased over the past year at 16.6%, 10.6% and 12.2%, respectively.
Median Sale Price for the Townhome/Condo segment was up 5.0% from last year, at $126,000 for September 2016 versus $120,000 for September 2015.
Median Time to Contract for Townhome/Condo was 36 days in September 2016, down 20.0% from 45 days last September.
Median Time to Sale for Townhome/Condo was 80 days this September, versus 86 days in September 2015, a -7.0% change year-over-year.
Median Time to Contract for Single Family was down 23.5% year-over-year, going from 34 days in September 2015 to 26 days in September 2016.
Median Time to Sale for Single Family was 72 days in September 2016, just a hair less than September 2015, which was 75, a decrease of 4.0%.
The number of Closed Sales for Single Family and Townhome/Condo combined for September 2016 was 1,885, up 1.3% from 1,860 in September 2015. Year-over-year, closed sales for the Single Family segment were up 1.4%, and Closed Sales for the Townhome/Condo segment were up 1.2%.
New Listings for Single Family for September were 1293, a growth of 1.9% from last September, when they were 1,269.
New Listings for Townhome/Condo for September 2016 were at 823, up 6.1% from 776 in September 2015.
Dollar Volume for Single Family was $342.4 million in September 2016, a 12.2% increase from $305.1 million in September 2015.
Dollar Volume for Townhome/Condo was $128.0 million in September 2016, up 0.9% from $126.9 million in September 2015.
Months Supply of Inventory for Single Family continues to reflect a seller’s market, with inventory down 2.9% year-over-year, with a 3.3 month supply this September, as compared to a 3.4 month supply in September 2015.
Months Supply of Inventory for Townhome/Condo was unchanged year-over-year, with 3.8 months in both September 2016 and September 2015.
Active listings for September 2016 Single Family and Townhome/Condo combined were 6,557, down 0.6% from 6,599 in September 2015.