Pinellas County Real Estate Report for August 2016.
As summer starts to transition to fall, we continue to see the market heating up. This past month has shown us some hot stats and we are excited to share some of the highlights of the Pinellas County Housing Market. New Listings for Single Family for August 2016 were 1,512, an impressive increase of 15.9% from last August, when they were 1,305. New Listings for Townhome/Condo for August 2016 were at 852, up 10.8% from 769 in August 2015.
Median Sale Price for Single Family was up a staggering 22.4% at $222,000 this August, versus $181,399 last August. Median Sale Price for the Townhome/Condo segment was down 4.8% from last year, at $128,950 for August 2016 versus $135,500 for August 2015.
Median Time to Contract for Townhome/Condo was 46 days in August 2016, down 20.7% from 58 days last August. Median Time to Sale for Townhome/Condo was 85 days this August, versus 99 days in August 2015, a -14.1% change year-over-year.
Median Time to Contract for Single Family was down 12.9% year-over-year, going from 31 days in August 2015 to 27 days in August 2016. Median Time to Sale for Single Family was 73 days in August 2016, almost even with August 2015, which was 74.
The number of Closed Sales for Single Family and Townhome/Condo combined for August 2016 was 2,045, up 8.3% from 1,888 in August 2015. Year-over-year, closed sales for the Single Family segment were up 5.9%, and Closed Sales for the Townhome/Condo segment were up 12.6%. New Listings for Single Family and Townhome/Condo combined were up 14.0% for August 2016 over August 2015, at 2,364 versus 2,074 last year.
Dollar Volume for Single Family was $356.5 million in August 2016, an exciting 27.1% increase from $280.4 million in August 2015. Dollar Volume for Townhome/Condo was $146.6 million in August 2016, up 12.7% from $130.1 million in August 2015.
Months Supply of Inventory for Single Family continues to reflect a seller’s market, with inventory down 8.3% year-over-year, with a 3.3 month supply this August, as compared to a 3.6 month supply in August 2015. Months Supply of Inventory for Townhome/Condo was unchanged year-over-year, with 3.9 months in both August 2016 and August 2015. Active listings for August 2016 Single Family and Townhome/Condo combined were 6,648, down 1.5% from 6,749 in August 2015.