nai_3qstats_postcards_web-1

 

                                                                                                

  Here is 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 third 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 3 2016 Statistics Release for the Single Family Home Market Segment:

  • Closed Sales: Slightly down for Pinellas County; up for Hillsborough County and Pasco County for Quarter 3 2016 from Quarter 3 2015. This statistic is a good indicator of the overall health of the market, and successful closed sales mean a win-win for both buyers and sellers.

o    Pinellas County: 3,709 Closed Sales Q3 2016 vs. 3,759 Closed Sales Q3 2015, a 1.3% decrease
o    Hillsborough County: 5,257 Closed Sales Q3 2016 vs. 4,928 Closed Sales Q3 2015, a 6.7% increase
o    Pasco County: 2,719 Closed Sales Q3 2016 vs. 2,648 Closed Sales Q3 2015, a 2.7% increase

  • Median Sale Price: Up for Pinellas County, Hillsborough County and Pasco County for Quarter 3 2016 from Quarter 3 2015. The median is the midpoint; half the homes sold for more, half the homes sold for less.

o    Pinellas County: $219,900 Median Sale Price Q3 2016 vs. $186,000 Median Sale Price Q3 2015, an 18.2% increase
o    Hillsborough County: $224,045 Median Sale Price Q3 2016 vs. $202,000 Median Sale Price Q3 2015, a 10.9% increase
o    Pasco County: $185,000 Median Sale Price Q3 2016 vs. $157,500 Median Sale Price Q3 2015, a 17.5% increase

  • Inventory (Active Listings): Down for Pinellas County, Hillsborough County and Pasco County for Quarter 3 2016 from Quarter 3 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, planning and preparation are key to being able to make an offer on a home when you do find what you’re looking for.

o    Pinellas County: 3,857 Active Listings Q3 2016 vs. 3,952 Active Listings Q3 2015, down 2.4%
o    Hillsborough County: 5,113 Active Listings Q3 2016 vs. 5,251 Active Listings Q3 2015, down 2.6%
o    Pasco County: 2,518 Active Listings Q3 2016 vs. 2,905 Active Listings Q3 2015, down 13.3%

  • Median Days to Contract: Down for Pinellas County, Hillsborough County and Pasco County for Quarter 3 2016 from Quarter 3 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 reach their goals in a hot market.

o    Pinellas County: 27 Days Q3 2016 vs. 32 Days Q3 2015, a 15.6% decrease
o    Hillsborough County: 29 Days Q3 2016 vs. 39 Days Q3 2015, a 25.6% decrease
o    Pasco County: 29 Days Q3 2016 vs. 43 Days Q3 2015, a 32.6% 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.

© 2016 Pinellas Realtor Organization

Advertisements