The Weekly Housing Market Stats For Pinellas County, FloridaOctober 20, 2020This week's housing stats for Pinellas County, FL indicate the continued lag of new housing inventory hitting the market
The Weekly Housing Stats For Pinellas County Florida October 20 2020
Dated: October 20 2020
The Weekly Housing Market Stats For Pinellas County, Florida
October 20, 2020
This week's housing stats for Pinellas County, FL indicate the continued lag of new housing inventory hitting the market for home buyers, plus increases in the closed sale prices of single family homes, townhouses/condos in our market. Check out our breakdown below and stay informed when it comes to your local housing market in Pinellas County, Florida!
Newly Active Listings: Not much change in the past 7 days, with just 2 less listings compared to the week before.
The median list price for newly listed single-family homes last week was $349,900 and for townhouses/condos $199,000. Newly active listing prices declined this week by -5% in the Single family home market and by -16% in the townhouse/condo market.
The decline is likely due to the mix of properties hitting the market compared to the week before. At this point, we use this info to watch the trends and would only begin to worry if declining home listing prices occurred for several consecutive weeks in a row or were combined with a large jump in inventory, mortgage interest rate increases, and a decline in new contracts.
New Contracts (Pending Properties)- We saw a +2%jump in pending contracts in the past 7 days vs the week prior.
Median days until contract held steady at just 11 days in the single-family home market with a median contracted price of $326,000.
In the townhouse/condo market, the median price of a contracted home was $199,900 and median days until under contract was 18.
SOLD (Closings) - Closings increased by +15% week over week (a decent swing upward).
The median price of a single-family home increased +9% last week vs the week before, coming in at $339,350, with the average days a listing was on the market sitting at just 7 days (the same as the week prior).
For Townhouses/condos, the the median sale price was $221,750, representing a +23% increase week over week, with median days on the market of 22 days.
Andrea is the Managing Partner of The Sandy Hartmann Group. Andrea was born and raised in the Tampa Bay area and is a licensed Realtor with over 15 years of Marketing and Finance experience, holding ....
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