Pinellas Realtor Organization
Neighborhood Advocates Initiative
Q2 Stats (Campaign #8 / 8-2016)

 

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Florida Realtors® recently released the 2016 second quarter (April through June) real estate market statistics for the state. I wanted to share with you an overview of how our area is performing.

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

Inventory has shrunk year-over-year for the second quarter. Median Days to Contract is down in the Pinellas, Hillsborough and Pasco markets, reflecting the short amount of time a home is on the market between being listed and being sold. All of this means fewer homes to choose from and a likelihood of more competition between 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 2 2016 Statistics Release for the Single Family Home Market Segment:

  • Closed Sales: Up for Pinellas County, Hillsborough County and Pasco County for Quarter 2 2016 from Quarter 2 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: 4,023 Closed Sales Q2 2016 vs. 3,893 Closed Sales Q2 2015, a3.3% increase
    • Hillsborough County: 5,426 Closed Sales Q2 2016 vs. 5,094 Closed Sales Q2 2015, a 6.5% increase
    • Pasco County: 2,859 Closed Sales Q2 2016 vs. 2,763 Closed Sales Q2 2015, a3.5% increase
  • Median Sale Price: Up for Pinellas County, Hillsborough County and Pasco County for Quarter 2 2016 from Quarter 2 2015. The median is the midpoint; half the homes sold for more, half the homes sold for less.
    • Pinellas County: $209,950 Median Sale Price Q2 2016 vs. $184,433 Median Sale Price Q2 2015, a 13.8% increase
    • Hillsborough County: $220,990 Median Sale Price Q2 2016 vs. $200,000 Median Sale Price Q2 2015, a 10.5% increase
    • Pasco County: $177,725 Median Sale Price Q2 2016 vs. $156,475 Median Sale Price Q2 2015, a 13.6% increase
  • Inventory (Active Listings): Down for Pinellas County, Hillsborough County and Pasco County for Quarter 2 2016 from Quarter 2 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 preparationare key to being able to make an offer on a home when you do find what you’re looking for.
    • Pinellas County: 3,916 Active Listings Q2 2016 vs. 4,261 Active Listings Q2 2015, down 8.1%
    • Hillsborough County: 5,266 Active Listings Q2 2016 vs. 5,611 Active Listings Q2 2015, down 6.1%
    • Pasco County: 2,642 Active Listings Q2 2016 vs. 3,141 Active Listings Q2 2015, down 15.9%
  • Median Days to Contract: Down for Pinellas County, Hillsborough County and Pasco County for Quarter 2 2016 from Quarter 2 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: 28 Days Q2 2016 vs. 35 Days Q2 2015, a 20.0% decrease
    • Hillsborough County: 28 Days Q2 2016 vs. 39 Days Q2 2015, a 28.2% decrease
    • Pasco County: 33 Days Q2 2016 vs. 42 Days Q2 2015, a 21.4% 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 for your time.

© 2016 Pinellas Realtor Organization

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