The Pinellas County housing market held strong at the close of 2016. Dollar Volume for Single Family Homesincreased 8.1% year-over-year, with $329.0 million in 2016 versus $304.3 million in December 2015. DollarVolume for Townhome/Condo was $147.9 million in December 2016, up 6.6% from $138.7 million inDecember 2015. The number of Closed Sales for Single Family and Townhome/Condo combined forDecember 2016 was 1,875, down 3.5% from 1,944 in December 2015.Median Sale Price for Single Family Homes was up in a big way again, at 17.6% from last year, at $222,250for December 2016 versus $189,000 for December 2015. Median Time to Contract for Single Family Homeswas 31 days in December 2016, up 3.3% from 30 days last December. Median Time to Sale for Single FamilyHomes was 73 days this December, the same number of days as last December.The Condo/Townhome market segment’s sales prices are still holding strong. Median Sale Price was$142,000 for December 2016, up 7.6% over $132,000 in December 2015. Average Sale Price was up 11.9%,with $215,214 in December 2016 and $192,400 in December 2015. Median Time to Contract for Townhomesand Condos was up 22.2% year-over-year, going from 36 days in December 2015 to 44 days inDecember 2016. Median Time to Sale for Townhomes and Condos was up 12.0%, at 84 days in December2016 and 75 days in December 2015.Year-over-year, closed sales for the Single Family segment were slightly down at 2.9%, and Closed Sales forthe Townhome/Condo segment were down 4.7%. New Listings for Single Family for December were 995,down by 5.3% from last December, at 1,051. New Listings for Townhome/Condo for December 2016 wereat 680, down 4.0% from 708 in December 2015.The strong seller’s market continues, with months supply of inventory down 3.4% year-over-year, with a 2.8month supply this December, as compared to a 2.9 month supply in December 2015. Months Supply ofInventory for Townhome/Condo fell 5.6%, with 3.4 months in December 2016 and 3.6 months in December2015.Representing more than 8,000 members, the Pinellas Realtor® Organization is one of the Tampa Bay area’slargest professional trade associations. The organization advances and promotes the real estateprofession through professional development programs, government affairs, and political advocacy andmaintains a high standard of conduct by real estate professionals through professional standards trainingand administration.
Source: Pinellas Realtor Organization