Pinellas Realtor Organization

 

 

NEIGHBORHOOD ADVOCATES INITIATIVE

 

 

 

 

 

 

 

 

Florida Realtors® recently released the 2016 first quarter (January through March) real estate market statistics for the state. I wanted to be sure you had an overview of how our area is performing.

The single family homes real estate markets in Pinellas, Hillsborough and Pasco Counties are looking very strong for the first quarter of 2016. Higher median sales prices, more closed sales, and faster time to contract are all good news for sellers.

Decreasing inventory and lower Median Days to Contract mean fewer homes on the market and a likelihood of more competition for buyers.

As your local Realtor® and Neighborhood Advocate, I am your resource for data that affects our communities and your property value. Homeownership affordability and accessibility is a cornerstone of the Realtor® advocacy efforts at every level – local, state and national.

Here are some highlights from the Florida Realtors® Quarter 1 2016 Statistics Release for the Single Family Home Market Segment:

  • Closed Sales: Up for Pinellas County, Hillsborough County and Pasco County for Quarter 1 2016 from Quarter 1 2015. This statistic is a good indicator of the overall health of the market, and lots of closed sales mean both sellers and buyers are achieving success.
    • Pinellas County: 3,167 Closed Sales Q1 2016 vs. 3,021 Closed Sales Q1 2015, a 4.8% increase
    • Hillsborough County: 3,934 Closed Sales Q1 2016 vs. 3,773 Closed Sales Q1 2015, a 4.3% increase
    • Pasco County: 2,184 Closed Sales Q1 2016 vs. 2,082 Closed Sales Q1 2015, a 4.9% increase
  • Median Sale Price: Up for Pinellas County, Hillsborough County and Pasco County for Quarter 1 2016 from Quarter 1 2015. The median is the midpoint; half the homes sold for more, half the homes sold for less.
    • Pinellas County: $195,000 Median Sale Price Q1 2016 vs. $163,319 Median Sale Price Q1 2015, a 19.4% increase
    • Hillsborough County: $200,000 Median Sale Price Q1 2016 vs. $178,000 Median Sale Price Q1 2015, a 12.4% increase
    • Pasco County: $157,025 Median Sale Price Q1 2016 vs. $137,525 Median Sale Price Q1 2015, a 14.2% increase
  • Inventory (Active Listings): Down for Pinellas County, Hillsborough County and Pasco County for Quarter 1 2016 from Quarter 1 2015. When inventory is low, there are fewer houses on the market and buyers are often competing for homes or have a tougher time finding a home that suits their exact needs. Flexibility and preparation are key to being able to make an offer on a home when you do find what you’re looking for.
    • Pinellas County: 4,015 Active Listings Q1 2016 vs. 4,470 Active Listings Q1 2015, down 10.2%
    • Hillsborough County: 5,098 Active Listings Q1 2016 vs. 5,454 Active Listings Q1 2015, down 6.5%
    • Pasco County: 2,759 Active Listings Q1 2016 vs. 3,344 Active Listings Q1 2015, down 17.5%
  • Median Days to Contract: Down for Pinellas County, Hillsborough County and Pasco County for Quarter 1 2016 from Quarter 1 2015. The midpoint of the number of days it took for a property to receive a sales contract during that time. The faster a home goes to contract, the less time it is on the market for sale. Another good indicator for sellers and a tool for buyers to understand how to thrive in a hot market.
    • Pinellas County: 36 Days Q1 2016 vs. 49 Days Q1 2015, a 26.5% decrease
    • Hillsborough County: 46 Days Q1 2016 vs. 58 Days Q1 2015, a 20.7% decrease
    • Pasco County: 44 Days Q1 2016 vs. 59 Days Q1 2015, a 25.4% decrease
If you would like to discuss the market statistics further, or would like me to keep you informed, I would welcome the opportunity to provide monthly stats for you. Please don’t hesitate to email me at AnnalisaWeller1@gmail.com or call me at 727-804-6566 if I can be of service. Thank you so much!

© 2016 Pinellas Realtor Organization

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