July 2013 Pinellas County Real Estate Stats

Here is our mid-Summer report of sales in the county. As the summer heated up, so did the sales but there has been a slight cool in the single family home market but a small rise in the condo market.

Attached to this blog is the full printed report provided by the Pinellas Realtor Organization.

From the report, we see that there was a little drop in the absorption rate for Single Family Homes (SFH). Our peak absorption rate was in May at 39.1% and this is the 2nd month in a row that we have gone down slightly to 36%. What does that mean? There is a mix of buyers and sellers in the market to where demand has decreased slightly. This is due to more properties being available on the market. In June 2013, there were 2658 Single Family Homes listed on the MLS in Pinellas County. To compare to July 2013 which had 2825 Single Family Homes listed on the MLS. The number of Sold properties was fairly flat in comparison to June. Again, we had peak number of sold properties this year and at least 5+ years in May 2013.

Continuing the trend of positive growth is the units and average price over last year. We are up 13.1% in July over last year in total units sold, up 23.5% on median price, and year to date we are up 17.4% on total units sold.

Now lets talk about condos in Pinellas County. They had a small increase in absorption, up from June's rate to 25.3%. The available inventory is steady at 2677 which is very similar to June's inventory level. And also follows in trend with sold units as well with 677 units sold.

Month over month, the sales numbers are up 22.9% with the year to date figures being up 12.3%. The median sales price is up 8.8% from 2012.

Interestingly, the sales price point that took the highest percentage of sales for the month was the $200-250,000 price point for single family homes and condos. In previous months, condos were selling more in the $50-60,000 price point. I can't speculate exactly why this has happened but my guess is move up buyers or families needing to get in before school starts.

If you are looking to buy or sell a home, contact me at 727-216-9253 or RebeccaTheRealtor@live.com. You can always get powerful information through my website - RebeccaTheRealtor.com.