St Pete Beach, Florida

St Pete Beach, Florida

The median price of single family homes in the St Petersburg-St Pete Beach-Clearwater Florida area is the highest since 2008 with a 20.5% increase over last year at this time. Condos/townhomes prices have increased 13%. The inventory had been steadily dropping since January 2011 so there is only a 4.5 month’s supply of homes and a 5.3 month’s supply of condos/townhomes. Traditional sales (NOT short sales, bank owned or foreclosures) are up 36.8% and short sales have dropped 6.6% for homes. While condo traditional sales have increased by 35.5% and short sales have dropped by 35.2%. The market is slowly growing stronger, which is great because we do want a slow and steady improvement. The median sale price for homes is $162,500 and $113k for condos. The average sales price is $223, 545 for homes and $175k for condos. Sellers are receiving on average 91.9-94.5% of the asking price. Homes sales in the $150k-199,999 have increased 59.8% over last year, $200k-249,999 have increased 55.5%, $250k-299,999 have increased 72.7% but the largest increase has been in the $600k-999,999 price range with an increase of 91.3%. So things are looking much better in our area for a continuously healthier real estate market. Hooray!!

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