Pinellas Real Estate Overview - Aug 2015

Pinellas County Real Estate Statistics for August 2015

After several months of record sales and a blistering seller’s market, statistics in many areas have cooled significantly. Average sale price for a single family home was $234,647 in August 2015, down 2.8% from last August

Median sales price for single family was $181,399, a 6.7% increase over last August. For the townhome/condo segment, median sales price was $135,500, up 13% over a year ago. Median days on market was also a bright spot, at 47 for single family.

The lack of inventory continues to be a huge part of the Pinellas County real estate story. The total sold units for single family and townhome/condo combined in August 2015 was 1,888, down significantly from the 2,123 sold in July 2015. In fact, this is the lowest number of sold units since February.

Year-over-year closed sale stats for single family and townhome/condo combined were 12.4% higher this August than a year ago, but almost 50% lower when compared with the 24.2% increase for July 2015 over July 2014.

With the new loan estimate and closing disclosure rules taking effect October 3, we will be watching closely to see how it impacts the market, particularly the number of closed sales.