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PROFarm_3Qstats_postcard 2017 WEB (1)

 

PROFARM Neighborhood Advocates
Q3 2017 Stats (Nov. 2017)

Florida Realtors® recently released the 2017 quarter 3 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 Home and Townhome/Condo real estate markets in Pinellas County continue to thrive in the third quarter of 2017. Median Sale Price continued to rise in both segments. Closed Sales were down for Single Family for the first time in months. It’s highly possible that the hurricanes in September are the cause for this.

Median Sale Price for the third quarter was up for both Single Family and Townhome/Condo in Pinellas County. Median Days to Contract was down year-over-year for Q3 in both segments, meaning that properties are going to contract faster now than this time last year.

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 2017 Statistics Release for Pinellas County for the Single Family Homes & Townhome/Condo Market Segments:

 

Closed Sales: Down for Pinellas County Single Family Homes and just slightly up for Townhome/Condo for Quarter 3 2017 from Quarter 3 2016. 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.

  • Single Family Homes: 3,340 Closed Sales in Q3 2017 vs. 3,694 Closed Sales in Q3 2016, a 9.6% decrease
  • Townhome/Condo: 2,138 Closed Sales in Q3 2017 vs. 2,131 Closed Sales in Q3 2016, a 0.3% increase

 

Median Sale Price: Up for Pinellas County in both Single Family Homes and Townhome/Condo for Quarter 3 2017 from Quarter 3 2016. The median is the midpoint; half the homes sold for more, half the homes sold for less.

  • Single Family Homes: $240,000 Median Sale Price in Q3 2017 vs. $220,000 Median Sale Price in Q3 2016, a 9.1% increase
  • Townhome/Condo: $152,750 Median Sale Price in Q3 2017 vs. $132,500 Median Sale Price in Q3 2016, an 15.3% increase

 

Inventory (Active Listings): Down for Pinellas County in both Single Family Homes and Townhome/Condo for Quarter 3 2017 from Quarter 3 2016. 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.

  • Single Family Homes: 3,027 Active Listings in Q3 2017 vs. 3,275 Active Listings in Q3 2016, a 7.6% decrease
  • Townhome/Condo: 2,097 Active Listings in Q3 2017 vs. 2,410 Active Listings in Q3 2016, a 13% decrease

 

Median Days to Contract: Down for Pinellas County for Single Family and Townhome/Condo for Quarter 3 2017 from Quarter 3 2016. 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. This statistic is another good indicator for sellers and a tool for buyers to understand how to reach their goals in a hot market.

  • Single Family Homes: 22 Median Days to Contract in Q3 2017 vs. 27 Median Days to Contract in Q3 2016, an 18.5% decrease
  • Townhome/Condo: 34 Median Days to Contract in Q3 2017 vs. 41 Median Days to Contract in Q3 2016, a 17.1% 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!
© 2017 Pinellas Realtor Organization

Well, except for the grandkids’ juice boxes, Ernesto García’s baby cokes and my Monty Python’s Holy Ale. Added 3 lemons from my tree just for color.

Annalisa Weller, Realtor®, Certified International Property Specialist

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