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FOR IMMEDIATE RELEASEContact: David B. BennettPresident & CEO Phone: 727-216-3002Email: [email protected]
Pinellas County Real Estate Statistics for March 2017
As we wrap up the first quarter of 2017, we are seeing some powerful numbers springing into the next season. Dollar Volume for Townhomes/Condos was $199.3 million in March 2017, an astonishing increase of 35.6% from $147.0 million in March 2016. Dollar Volume for Single Family Homes increased 21.5% year-over-year, with $408.9 million in 2017 versus $336.6 million in March 2016. Median Time to Contract for Town-homes and Condos was down 30.0% year-over-year, going from 40 days in March 2016 to 28 days in March 2017.
Median Time to Contract for Single Family Homes was 30 days in March 2017, down 3.2% from last March. Median Time to Sale for Single Family Homes was 71 days this March, down 4.1% from 74 days last March. Median Sale Price for Single Family Homes was up 15.0% from last year, at $230,000 for March 2017 versus $200,000 for March 2016. Average Sale Price for Single Family Homes grew an astounding 16.0%, at $299,356 in March 2017 versus $258,152 in March 2016.
The Townhome/Condo market segment’s sales prices are still holding strong. Median Time to Sale for Townhomes and Condos was down 9.1%, at 70 days in March 2017 and 77 days in March 2016. Median Sale Price for Townhomes/Condos was $139,000 for March 2017, up 4.5% from $133,000 in March 2016.
Year-over-year, Closed Sales for the Single Family segment were up 4.8%, and Closed Sales for the Townhome/Condo segment grew an impressive 26.3%. New Listings for Single Family for March were 1,607, up 4.8% from last March, at 1,533. New Listings for Townhome/Condo for March 2017 were at 1,063, up 5.6% from 1,007 in March 2016.
The strong seller’s market grew even stronger in March, with Months Supply of Inventory down 6.9% year-over-year for Single Family Homes, with a 2.7 Month Supply this March, as compared to a 2.9 Month Supply in March 2016. Months Supply of Inventory for Townhome/Condo fell an astounding 15.0%, with 3.4 months in March 2017 and 4.0 months in March 2016.
Representing more than 8,000 members, the Pinellas Realtor® Organization is one of the Tampa Bay area’s largest professional trade associations. The organization advances and promotes the real estate profes-sion through professional development programs, government affairs, and political advocacy and main-tains a high standard of conduct by real estate professionals through professional standards training and administration.
Summary Statistics % changeyear over yearMar 2017 Feb. 2014
Closed Sales
Paid in Cash
New Pending Sales
New Listings
Pending Inventory
Inventory (Active Listings)
Combined Single Family Homes & Townhomes/Condos
Mar 2016
2321 2060 12.7%
1002 907 10.5%
2539 2405 5.6%
2670 2540 5.1%
3201 3375 - 5.2%
5692 6124 - 7.1%source: Florida Realtors
Absorption rate estimates the rate at which active listings are selling in a given market.
It’s calculated by dividing the number of closed sales by the number of active listings.
A low absorption rate means that homes are selling slowly (suggesting a buyer’s market) while a high absorption rate means that homes are selling quickly (suggesting a seller’s market).
JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember
22.7%27.0%38.0%37.4%39.1%38.1%36.0%34.6%29.0%24.2%20.7%21.9%
17.3%18.7%25.0%27.9%31.8%29.8%30.2%29.6%28.2%29.2%23.1%32.0%
2014 2015 2016
Absorption Rate
Single Family21.6%27.8%36.3%36.8%36.5%42.9%
JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember
13.5%16.8%22.3%28.3%28.1%23.9%25.3%24.0%20.3%18.1%16.3%18.7%
13.5%17.3%20.1%23.1%22.2%21.8%22.2%21.1%21.1%22.8%18.2%23.1%
Condo16.7%
2013 2014 2015 2016
20.5%27.3%30.6%31.6%30.8%
40.7%
30.6%
37.2%
29.1%
37.8%
28.1%
36.7%
26.4%25.5%
26.6%39.1%
28.9%
2017
2017
26.4%
17.6%
32.5%
22.1%
43.0%
27.8%
43.4%
35.9%
45.4%
30.9%
48.0%
32.8%
40.2%
29.2%
42.1%
33.2%
40.0%
28.6%
34.1%
27.6%
33.4%
28.1%
38.2%
28.5%
201329.5%
25.7%
31.7%
26.5%
47.1%
41.2%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2014
2015
2016
2017
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
45.0%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2014
2015
2016
2017
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Friday, April 21, 2017. Data revised on Monday, January 16, 2017. Next data release is Wednesday, May 24, 2017.
February 2017 949 -6.2%
8.6%
-2.9%
January 2017 909
December 2016 1,188
Economists' note : Closed Sales are one of the simplest—yet most
important—indicators for the residential real estate market. When
comparing Closed Sales across markets of different sizes, we
recommend comparing the percent changes in sales rather than the
number of sales. Closed Sales (and many other market metrics) are
affected by seasonal cycles, so actual trends are more accurately
represented by year-over-year changes (i.e. comparing a month's
sales to the amount of sales in the same month in the previous year),
rather than changes from one month to the next. 4.4%
June 2016 1,412
May 2016 1,321
0.4%
9.2%
0.6%
26.7%
-9.7%
6.0%
-10.1%
1.2%
April 2016 1,276
March 2016 1,304
August 2016 1,263
July 2016 1,228
November 2016 1,093
October 2016 1,070
September 2016 1,203
95.9% 0.0%
30 Days 31 Days -3.2%
$200,000 15.0%
$408.9 Million $336.6 Million 21.5%
$299,356 $258,152 16.0%
March 2016Percent Change
Year-over-Year
422 444 -5.0%
1,366 1,304 4.8%
Summary Statistics
Closed Sales
Paid in Cash
95.9%
March 2017
$230,000Median Sale Price
Average Sale Price
Dollar Volume
March 2017
Median Percent of Original
List Price Received
Median Time to Contract
71 Days
1,533
Median Time to Sale
New Pending Sales
New Listings
Month
1,607
Pending Inventory 1,898
Inventory (Active Listings) 3,206
Months Supply of Inventory 2.7
-4.1%
1,448 5.9%
Percent Change
Year-over-Year
4.8%
1,533 4.8%
Closed Sales
1,366
74 Days
2,052 -7.5%
3,342 -4.1%
2.9 -6.9%
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
Monthly Market Detail - March 2017
Pinellas CountySingle Family Homes
0
500
1,000
1,500
Clo
sed
Sal
es
2013 2014 2015 2016
Closed SalesThe number of sales transactions which closed during the month
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Friday, April 21, 2017. Data revised on Monday, January 16, 2017. Next data release is Wednesday, May 24, 2017.
April 2016 32.4% -7.7%
March 2016 34.0% -15.6%
June 2016 30.5% -11.8%
May 2016 32.9% -11.6%
Economists' note : This statistic is simply another way of viewing
Cash Sales. The remaining percentages of Closed Sales (i.e. those not
paid fully in cash) each month involved some sort of financing, such as
mortgages, owner/seller financing, assumed loans, etc.
November 2016 32.1% -18.1%
October 2016 32.3% -12.9%
September 2016 28.2% -22.5%
August 2016 29.5% -15.7%
July 2016 28.4% -19.5%
January 2017 34.9% -8.2%
December 2016 27.9% -13.9%
March 2017 30.9% -9.1%
February 2017 35.0% -11.2%
March 2016 444 -11.7%
MonthPercent of Closed
Sales Paid in Cash
Percent Change
Year-over-Year
May 2016 434 -3.6%
April 2016 414 -7.0%
July 2016 349 -27.6%
June 2016 431 -11.5%
December 2016 332 -16.2%
Economists' note : Cash Sales can be a useful indicator of the extent to
which investors are participating in the market. Why? Investors are
far more likely to have the funds to purchase a home available up
front, whereas the typical homebuyer requires a mortgage or some
other form of financing. There are, of course, many possible
exceptions, so this statistic should be interpreted with care.
November 2016 351 3.8%
October 2016 346 -21.4%
September 2016 339 -21.7%
August 2016 372 -10.8%
February 2017 332 -16.8%
January 2017 317 -0.3%
Month Cash SalesPercent Change
Year-over-Year
March 2017 422 -5.0%
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
0%
10%
20%
30%
40%
50%
60%
Pct
. of
Clo
sed
Sa
les
Pai
d in
Cas
h
0
100
200
300
400
500
600
Cas
h S
ale
s
Monthly Market Detail - March 2017
2013 2014 2015 2016
Pinellas CountySingle Family Homes
Cash SalesThe number of Closed Sales during the month in which buyers exclusively paid in cash
2013 2014 2015 2016
Cash Sales as a Percentage of Closed Sales
The percentage of Closed Sales during the month which were Cash Sales
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Friday, April 21, 2017. Data revised on Monday, January 16, 2017. Next data release is Wednesday, May 24, 2017.
Economists' note : Median Sale Price is our preferred summary
statistic for price activity because, unlike Average Sale Price, Median
Sale Price is not sensitive to high sale prices for small numbers of
homes that may not be characteristic of the market area. Keep in mind
that median price trends over time are not always solely caused by
changes in the general value of local real estate. Median sale price
only reflects the values of the homes that sold each month, and the
mix of the types of homes that sell can change over time.
Economists' note : Usually, we prefer Median Sale Price over Average
Sale Price as a summary statistic for home prices. However, Average
Sale Price does have its uses—particularly when it is analyzed
alongside the Median Sale Price. For one, the relative difference
between the two statistics can provide some insight into the market
for higher-end homes in an area.April 2016 $271,491 8.4%
March 2016 $258,152 7.9%
June 2016 $297,304 17.9%
May 2016 $253,121 6.1%
November 2016 $277,227 13.0%
October 2016 $273,294 10.6%
September 2016 $284,614 10.9%
August 2016 $282,239 19.9%
July 2016 $287,816 17.5%
January 2017 $267,704 1.1%
December 2016 $276,945 11.3%
March 2017 $299,356 16.0%
February 2017 $286,417 11.8%
March 2016 $200,000 14.3%
Month Average Sale PricePercent Change Year-
over-Year
May 2016 $201,000 8.6%
April 2016 $200,000 11.1%
July 2016 $215,000 16.0%
June 2016 $220,000 18.9%
$222,250 17.6%
November 2016 $219,900 18.9%
August 2016 $222,200 22.1%
February 2017 $222,000 16.8%
January 2017 $215,000 10.8%
October 2016 $207,000 15.0%
September 2016 $222,000 16.8%
December 2016
Month Median Sale PricePercent Change Year-
over-Year
March 2017 $230,000 15.0%
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
$0K
$100K
$200K
$300K
$400K
Ave
rage
Sal
e
Pri
ce
$0K
$50K
$100K
$150K
$200K
$250K
Me
dia
n S
ale
Pri
ce
Monthly Market Detail - March 2017
2013 2014 2015 2016
Pinellas CountySingle Family Homes
Median Sale PriceThe median sale price reported for the month (i.e. 50% of sales were above and 50% of sales were below)
2013 2014 2015 2016
Average Sale PriceThe average sale price reported for the month (i.e. total sales in dollars divided by the number of sales)
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Friday, April 21, 2017. Data revised on Monday, January 16, 2017. Next data release is Wednesday, May 24, 2017.
Economists' note : The Median Percent of Original List Price Received
is useful as an indicator of market recovery, since it typically rises as
buyers realize that the market may be moving away from them and
they need to match the selling price (or better it) in order to get a
contract on the house. This is usually the last measure to indicate a
market has shifted from down to up, so it is what we would call a
lagging indicator. April 2016 95.9% 0.9%
March 2016 95.9% 1.8%
June 2016 96.2% 0.1%
May 2016 96.4% 0.9%
November 2016 96.2% 0.4%
October 2016 96.7% 1.0%
September 2016 96.5% 0.9%
August 2016 96.7% 0.8%
July 2016 96.5% 0.5%
January 2017 95.3% 0.1%
December 2016 95.6% -0.1%
March 2017 95.9% 0.0%
February 2017 95.5% 0.2%
March 2016 $336.6 Million 12.6%
MonthMed. Pct. of Orig. List
Price Received
Percent Change Year-
over-Year
May 2016 $334.4 Million 15.9%
April 2016 $346.4 Million 9.0%
July 2016 $353.4 Million 5.6%
June 2016 $419.8 Million 18.3%
December 2016 $329.0 Million 8.1%
Economists' note : Dollar Volume is simply the sum of all sale prices
in a given time period, and can quickly be calculated by multiplying
Closed Sales by Average Sale Price. It is a strong indicator of the
health of the real estate industry in a market, and is of particular
interest to real estate professionals, investors, analysts, and
government agencies. Potential home sellers and home buyers, on the
other hand, will likely be better served by paying attention to trends in
the two components of Dollar Volume (i.e. sales and prices)
individually.
November 2016 $303.0 Million 43.1%
October 2016 $292.4 Million -0.1%
September 2016 $342.4 Million 12.2%
August 2016 $356.5 Million 27.1%
February 2017 $271.8 Million 4.8%
January 2017 $243.3 Million 9.8%
Month Dollar VolumePercent Change Year-
over-Year
March 2017 $408.9 Million 21.5%
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
0%
20%
40%
60%
80%
100%
120%
Me
d. P
ct. o
f O
rig.
Li
st P
rice
R
ece
ive
d
$0
$100 M
$200 M
$300 M
$400 M
$500 M
Do
llar
Vo
lum
e
Monthly Market Detail - March 2017
2013 2014 2015 2016
Pinellas CountySingle Family Homes
Dollar VolumeThe sum of the sale prices for all sales which closed during the month
2013 2014 2015 2016
Median Percent of Original List Price ReceivedThe median of the sale price (as a percentage of the original list price) across all properties selling during the month
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Friday, April 21, 2017. Data revised on Monday, January 16, 2017. Next data release is Wednesday, May 24, 2017.
April 2016 73 Days -12.0%
March 2016 74 Days -14.9%
June 2016 72 Days -5.3%
May 2016 74 Days -6.3%
Economists' note : Time to Sale is a measure of the length of the home
selling process, calculated as the number of days between the initial
listing of a property and the closing of the sale. Median Time to Sale is
the amount of time the "middle" property selling this month was on
the market. That is, 50% of homes selling this month took less time to
sell, and 50% of homes took more time to sell. Median Time to Sale
gives a more accurate picture than Average Time to Sale, which can be
skewed upward by small numbers of properties taking an abnormally
long time to sell.
November 2016 73 Days -6.4%
October 2016 73 Days 1.4%
September 2016 72 Days -4.0%
August 2016 73 Days -1.4%
July 2016 75 Days 0.0%
January 2017 81 Days -4.7%
December 2016 73 Days 0.0%
March 2017 71 Days -4.1%
February 2017 81 Days -1.2%
March 2016 31 Days -29.5%
Month Median Time to SalePercent Change Year-
over-Year
May 2016 28 Days -20.0%
April 2016 28 Days -30.0%
July 2016 28 Days -12.5%
June 2016 28 Days -9.7%
December 2016 31 Days 3.3%
Economists' note : Like Time to Sale, Time to Contract is a measure of
the length of the home selling process calculated for sales which
closed during the month. The difference is that Time to Contract
measures the number of days between the initial listing of a property
and the signing of the contract which eventually led to the closing of
the sale. When the gap between Median Time to Contract and Median
Time to Sale grows, it is usually a sign of longer closing times and/or
declining numbers of cash sales.
November 2016 26 Days -18.8%
October 2016 29 Days -12.1%
September 2016 25 Days -26.5%
August 2016 27 Days -12.9%
February 2017 38 Days 0.0%
January 2017 36 Days -10.0%
MonthMedian Time to
Contract
Percent Change Year-
over-Year
March 2017 30 Days -3.2%
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M0
20
40
60
80
100
120
Me
dia
n T
ime
to
Sa
le
0
20
40
60
80
Me
dia
n T
ime
to
C
on
trac
tMonthly Market Detail - March 2017
2013 2014 2015 2016
Pinellas CountySingle Family Homes
Median Time to ContractThe median number of days between the listing date and contract date for all Closed Sales during the month
2013 2014 2015 2016
Median Time to SaleThe median number of days between the listing date and closing date for all Closed Sales during the month
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Friday, April 21, 2017. Data revised on Monday, January 16, 2017. Next data release is Wednesday, May 24, 2017.
Economists' note : New Listings tend to rise in delayed response to
increasing prices, so they are often seen as a lagging indicator of
market health. As prices rise, potential sellers raise their estimations
of value—and in the most recent cycle, rising prices have freed up
many potential sellers who were previously underwater on their
mortgages. Note that in our calculations, we take care to not include
properties that were recently taken off the market and quickly
relisted, since these are not really new listings.
Economists' note : Because of the typical length of time it takes for a
sale to close, economists consider Pending Sales to be a decent
indicator of potential future Closed Sales. It is important to bear in
mind, however, that not all Pending Sales will be closed successfully.
So, the effectiveness of Pending Sales as a future indicator of Closed
Sales is susceptible to changes in market conditions such as the
availability of financing for homebuyers and the inventory of
distressed properties for sale.
April 2016 1,512 3.9%
March 2016 1,533 -0.5%
June 2016 1,493 5.2%
May 2016 1,464 3.0%
November 2016 1,317 11.8%
October 2016 1,373 -1.4%
September 2016 1,293 1.9%
August 2016 1,512 15.9%
July 2016 1,344 -8.1%
January 2017 1,405 -1.1%
December 2016 995 -5.3%
March 2017 1,607 4.8%
February 2017 1,370 -9.8%
March 2016 1,448 -4.6%
Month New ListingsPercent Change Year-
over-Year
May 2016 1,327 -6.5%
April 2016 1,537 4.3%
July 2016 1,282 -6.0%
June 2016 1,348 -4.7%
994 -1.2%
November 2016 1,025 -3.9%
August 2016 1,332 -3.0%
February 2017 1,319 -6.3%
January 2017 1,280 -0.3%
October 2016 1,209 0.4%
September 2016 1,129 -9.0%
December 2016
Month New Pending SalesPercent Change
Year-over-Year
March 2017 1,533 5.9%
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
0
500
1,000
1,500
2,000
Ne
w L
isti
ngs
0
500
1,000
1,500
2,000
Pe
nd
ing
Sale
s
Monthly Market Detail - March 2017
2013 2014 2015 2016
Pinellas CountySingle Family Homes
New Pending SalesThe number of listed properties that went under contract during the month
2013 2014 2015 2016
New ListingsThe number of properties put onto the market during the month
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Friday, April 21, 2017. Data revised on Monday, January 16, 2017. Next data release is Wednesday, May 24, 2017.
Economists' note : There are a number of ways to define and
calculate Inventory. Our method is to simply count the number of
active listings on the last day of the month, and hold this number to
compare with the same month the following year. Inventory rises
when New Listings are outpacing the number of listings that go off-
market (regardless of whether they actually sell). Likewise, it falls
when New Listings aren't keeping up with the rate at which homes are
going off-market.
Economists' note : MSI is a useful indicator of market conditions. The
benchmark for a balanced market (favoring neither buyer nor seller)
is 5.5 months of inventory. Anything higher is traditionally a buyers'
market, and anything lower is a sellers' market. There is no single
accepted way of calculating MSI. A common method is to divide
current Inventory by the most recent month's Closed Sales count, but
this count is a usually poor predictor of future Closed Sales due to
seasonal cycles. To eliminate seasonal effects, we use the 12-month
average of monthly Closed Sales instead.
Month InventoryPercent Change Year-
over-Year
March 2017 3,206 -4.1%
February 2017 3,272 -3.3%
January 2017 3,305 -1.9%
December 2016 3,288 -0.9%
November 2016 3,447 0.4%
October 2016 3,334 -2.0%
September 2016 3,275 -1.3%
August 2016 3,246 -3.9%
July 2016 3,224 -8.4%
June 2016 3,219 -8.3%
May 2016 3,292 -8.1%
April 2016 3,225 -12.0%
March 2016 3,342 -9.7%
Month Months SupplyPercent Change Year-
over-Year
March 2017 2.7 -6.9%
February 2017 2.8 -3.4%
January 2017 2.8 -3.4%
December 2016 2.8 -3.4%
November 2016 2.9 -3.3%
October 2016 2.9 0.0%
September 2016 2.8 -3.4%
August 2016 2.8 -6.7%
July 2016 2.8 -9.7%
June 2016 2.7 -15.6%
March 2016 2.9 -17.1%
May 2016 2.8 -15.2%
April 2016 2.8 -17.6%
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
0.0
1.0
2.0
3.0
4.0
5.0
Mo
nth
s Su
pp
ly o
f In
ven
tory
0
1,000
2,000
3,000
4,000
5,000
Inve
nto
ry
Monthly Market Detail - March 2017
2013 2014 2015 2016
Pinellas CountySingle Family Homes
Inventory (Active Listings)The number of property listings active at the end of the month
2013 2014 2015 2016
Months Supply of InventoryAn estimate of the number of months it will take to deplete the current Inventory given recent sales rates
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Friday, April 21, 2017. Data revised on Monday, January 16, 2017. Next data release is Wednesday, May 24, 2017.
$100,000 - $149,999 185 -25.1%
Sale Price Closed SalesPercent Change Year-
over-Year
Less than $50,000 11 -68.6%
$50,000 - $99,999 60 -52.4%
$150,000 - $199,999 281 19.1%
$200,000 - $249,999 236 9.8%
$50,000 - $99,999 21 Days -19.2%
$100,000 - $149,999
$400,000 - $599,999 133 38.5%
$600,000 - $999,999 88 57.1%
23 Days -11.5%
Economists' note: Closed Sales are one of the simplest—yet most
important—indicators for the residential real estate market. When
comparing Closed Sales across markets of different sizes, we
recommend comparing the percent changes in sales rather than the
number of sales. Closed Sales (and many other market metrics) are
affected by seasonal cycles, so actual trends are more accurately
represented by year-over-year changes (i.e. comparing a month's sales
to the amount of sales in the same month in the previous year), rather
than changes from one month to the next.
Sale PriceMedian Time to
Contract
Percent Change Year-
over-Year
Less than $50,000 11 Days -64.5%
$1,000,000 or more 23 21.1%
$250,000 - $299,999 183 32.6%
$300,000 - $399,999 166 22.1%
Economists' note : Like Time to Sale, Time to Contract is a measure of
the length of the home selling process calculated for sales which closed
during the month. The difference is that Time to Contract measures
the number of days between the initial listing of a property and the
signing of the contract which eventually led to the closing of the sale.
When the gap between Median Time to Contract and Median Time to
Sale grows, it is usually a sign of longer closing times and/or declining
numbers of cash sales.
$150,000 - $199,999 17 Days -39.3%
$200,000 - $249,999 36 Days 33.3%
$250,000 - $299,999
$400,000 - $599,999 70 Days 62.8%
27 Days -30.8%
$300,000 - $399,999 40 Days 0.0%
$600,000 - $999,999 86 Days 13.2%
$1,000,000 or more 128 Days 24.3%
0
20
40
60
80
100
120
140
Less than$50,000
$50,000 -$99,999
$100,000 -$149,999
$150,000 -$199,999
$200,000 -$249,999
$250,000 -$299,999
$300,000 -$399,999
$400,000 -$599,999
$600,000 -$999,999
$1,000,000 ormore
Med
ian
Tim
e t
o
Co
ntr
act
March 2016 March 2017
0
20
40
60
80
100
120
140
0
50
100
150
200
250
300
Less than$50,000
$50,000 -$99,999
$100,000 -$149,999
$150,000 -$199,999
$200,000 -$249,999
$250,000 -$299,999
$300,000 -$399,999
$400,000 -$599,999
$600,000 -$999,999
$1,000,000 ormore
Clo
sed
Sal
es
March 2016 March 2017
0
50
100
150
200
250
300
Monthly Market Detail - March 2017
Pinellas CountySingle Family Homes
Closed Sales by Sale PriceThe number of sales transactions which closed during the month
Median Time to Contract by Sale PriceThe median number of days between the listing date and contract date for all Closed Sales during the month
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Friday, April 21, 2017. Data revised on Monday, January 16, 2017. Next data release is Wednesday, May 24, 2017.
Initial Listing Price New ListingsPercent Change Year-
over-Year
Less than $50,000 7 -69.6%
$50,000 - $99,999 47 -58.8%
$100,000 - $149,999 144 -41.7%
Economists' note: New Listings tend to rise in delayed response to
increasing prices, so they are often seen as a lagging indicator of
market health. As prices rise, potential sellers raise their estimations
of value—and in the most recent cycle, rising prices have freed up
many potential sellers who were previously underwater on their
mortgages. Note that in our calculations, we take care to not include
properties that were recently taken off the market and quickly relisted,
since these are not really new listings.
$150,000 - $199,999 305 16.0%
$200,000 - $249,999 265 18.8%
$250,000 - $299,999 230 42.0%
$300,000 - $399,999 241 31.7%
$400,000 - $599,999 192 18.5%
$600,000 - $999,999 127 22.1%
$1,000,000 or more 49 -5.8%
Current Listing Price InventoryPercent Change Year-
over-Year
Less than $50,000 12 -74.5%
$50,000 - $99,999 80 -57.7%
$100,000 - $149,999 177 -47.0%
Economists' note : There are a number of ways to define and calculate
Inventory. Our method is to simply count the number of active listings
on the last day of the month, and hold this number to compare with the
same month the following year. Inventory rises when New Listings are
outpacing the number of listings that go off-market (regardless of
whether they actually sell). Likewise, it falls when New Listings aren't
keeping up with the rate at which homes are going off-market.
$150,000 - $199,999 414 -7.6%
$200,000 - $249,999 384 2.7%
$250,000 - $299,999 312 4.0%
$300,000 - $399,999 448 28.0%
$400,000 - $599,999 513 9.6%
$600,000 - $999,999 475 -3.3%
$1,000,000 or more 391 14.7%
0
50
100
150
200
250
300
350
Less than$50,000
$50,000 -$99,999
$100,000 -$149,999
$150,000 -$199,999
$200,000 -$249,999
$250,000 -$299,999
$300,000 -$399,999
$400,000 -$599,999
$600,000 -$999,999
$1,000,000 ormore
New
Lis
tin
gs
March 2016 March 2017
0
100
200
300
400
500
600
Less than$50,000
$50,000 -$99,999
$100,000 -$149,999
$150,000 -$199,999
$200,000 -$249,999
$250,000 -$299,999
$300,000 -$399,999
$400,000 -$599,999
$600,000 -$999,999
$1,000,000 ormore
Inve
nto
ry
March 2016 March 2017
0
100
200
300
400
500
600
0
50
100
150
200
250
300
350
Monthly Market Detail - March 2017
Pinellas CountySingle Family Homes
New Listings by Initial Listing PriceThe number of properties put onto the market during the month
Inventory by Current Listing PriceThe number of property listings active at the end of the month
Closed Sales
Median Sale Price
Closed Sales
Median Sale Price
Closed Sales
Median Sale Price
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Friday, April 21, 2017. Data revised on Monday, January 16, 2017. Next data release is Wednesday, May 24, 2017.
March 2017 March 2016Percent Change Year-
over-Year
Traditional
1,290 1,109 16.3%
$235,000 $216,500 8.5%
Foreclosure/REO
53 166 -68.1%
$165,000 $122,000 35.2%
Short Sale
23 29 -20.7%
$135,000 $123,500 9.3%
$0
$50,000
$100,000
$150,000
$200,000
$250,000
Me
dia
n S
ale
Pri
ce
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Clo
sed
Sal
es
Traditional Foreclosure/REO Short Sale
2013 2014 2015 2016
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
Monthly Distressed Market - March 2017
Pinellas CountySingle Family Homes
2013 2014 2015 2016
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Friday, April 21, 2017. Data revised on Monday, January 16, 2017. Next data release is Wednesday, May 24, 2017.
February 2017 646 4.0%
32.9%
-4.7%
January 2017 634
December 2016 687
Economists' note : Closed Sales are one of the simplest—yet most
important—indicators for the residential real estate market. When
comparing Closed Sales across markets of different sizes, we
recommend comparing the percent changes in sales rather than the
number of sales. Closed Sales (and many other market metrics) are
affected by seasonal cycles, so actual trends are more accurately
represented by year-over-year changes (i.e. comparing a month's
sales to the amount of sales in the same month in the previous year),
rather than changes from one month to the next. -3.0%
June 2016 800
May 2016 779
3.5%
-4.2%
10.0%
11.5%
5.1%
12.8%
-8.2%
1.4%
April 2016 917
March 2016 756
August 2016 775
July 2016 682
November 2016 687
October 2016 660
September 2016 674
94.5% 0.6%
28 Days 40 Days -30.0%
$133,000 4.5%
$199.3 Million $147.0 Million 35.6%
$208,706 $194,492 7.3%
March 2016Percent Change
Year-over-Year
580 463 25.3%
955 756 26.3%
Summary Statistics
Closed Sales
Paid in Cash
95.1%
March 2017
$139,000Median Sale Price
Average Sale Price
Dollar Volume
March 2017
Median Percent of Original
List Price Received
Median Time to Contract
70 Days
1,006
Median Time to Sale
New Pending Sales
New Listings
Month
1,063
Pending Inventory 1,303
Inventory (Active Listings) 2,486
Months Supply of Inventory 3.4
-9.1%
957 5.1%
Percent Change
Year-over-Year
26.3%
1,007 5.6%
Closed Sales
955
77 Days
1,323 -1.5%
2,782 -10.6%
4.0 -15.0%
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
Monthly Market Detail - March 2017
Pinellas CountyTownhouses and Condos
0
200
400
600
800
1,000
1,200
Clo
sed
Sal
es
2013 2014 2015 2016
Closed SalesThe number of sales transactions which closed during the month
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Friday, April 21, 2017. Data revised on Monday, January 16, 2017. Next data release is Wednesday, May 24, 2017.
April 2016 61.1% -6.3%
March 2016 61.2% -6.3%
June 2016 57.3% -7.3%
May 2016 58.3% -5.8%
Economists' note : This statistic is simply another way of viewing
Cash Sales. The remaining percentages of Closed Sales (i.e. those not
paid fully in cash) each month involved some sort of financing, such as
mortgages, owner/seller financing, assumed loans, etc.
November 2016 60.3% -9.2%
October 2016 54.8% -11.8%
September 2016 60.1% -3.2%
August 2016 58.8% -3.0%
July 2016 55.6% -7.3%
January 2017 59.8% -2.6%
December 2016 54.1% -11.2%
March 2017 60.7% -0.8%
February 2017 60.8% -7.5%
March 2016 463 -9.0%
MonthPercent of Closed
Sales Paid in Cash
Percent Change
Year-over-Year
May 2016 454 -9.7%
April 2016 560 2.9%
July 2016 379 -15.0%
June 2016 458 -4.2%
December 2016 372 -15.3%
Economists' note : Cash Sales can be a useful indicator of the extent to
which investors are participating in the market. Why? Investors are
far more likely to have the funds to purchase a home available up
front, whereas the typical homebuyer requires a mortgage or some
other form of financing. There are, of course, many possible
exceptions, so this statistic should be interpreted with care.
November 2016 414 1.2%
October 2016 362 -7.2%
September 2016 405 -1.9%
August 2016 456 9.6%
February 2017 393 -3.7%
January 2017 379 29.4%
Month Cash SalesPercent Change
Year-over-Year
March 2017 580 25.3%
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
0%
20%
40%
60%
80%
100%
Pct
. of
Clo
sed
Sa
les
Pai
d in
Cas
h
0
200
400
600
800
Cas
h S
ale
s
Monthly Market Detail - March 2017
2013 2014 2015 2016
Pinellas CountyTownhouses and Condos
Cash SalesThe number of Closed Sales during the month in which buyers exclusively paid in cash
2013 2014 2015 2016
Cash Sales as a Percentage of Closed Sales
The percentage of Closed Sales during the month which were Cash Sales
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Friday, April 21, 2017. Data revised on Monday, January 16, 2017. Next data release is Wednesday, May 24, 2017.
Economists' note : Median Sale Price is our preferred summary
statistic for price activity because, unlike Average Sale Price, Median
Sale Price is not sensitive to high sale prices for small numbers of
homes that may not be characteristic of the market area. Keep in mind
that median price trends over time are not always solely caused by
changes in the general value of local real estate. Median sale price
only reflects the values of the homes that sold each month, and the
mix of the types of homes that sell can change over time.
Economists' note : Usually, we prefer Median Sale Price over Average
Sale Price as a summary statistic for home prices. However, Average
Sale Price does have its uses—particularly when it is analyzed
alongside the Median Sale Price. For one, the relative difference
between the two statistics can provide some insight into the market
for higher-end homes in an area.April 2016 $194,422 -0.8%
March 2016 $194,492 3.5%
June 2016 $206,242 11.1%
May 2016 $205,711 -1.6%
November 2016 $214,146 8.9%
October 2016 $207,645 11.3%
September 2016 $189,901 -0.5%
August 2016 $189,178 -0.1%
July 2016 $198,965 6.3%
January 2017 $234,800 30.0%
December 2016 $215,214 11.9%
March 2017 $208,706 7.3%
February 2017 $236,827 25.0%
March 2016 $133,000 10.8%
Month Average Sale PricePercent Change Year-
over-Year
May 2016 $139,000 6.9%
April 2016 $139,000 9.9%
July 2016 $139,635 7.4%
June 2016 $140,551 17.1%
$142,000 7.6%
November 2016 $147,500 9.1%
August 2016 $130,000 -5.5%
February 2017 $149,500 20.6%
January 2017 $135,000 8.1%
October 2016 $145,000 16.1%
September 2016 $126,000 5.0%
December 2016
Month Median Sale PricePercent Change Year-
over-Year
March 2017 $139,000 4.5%
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
$0K
$50K
$100K
$150K
$200K
$250K
Ave
rage
Sal
e
Pri
ce
$0K
$50K
$100K
$150K
$200K
Me
dia
n S
ale
Pri
ce
Monthly Market Detail - March 2017
2013 2014 2015 2016
Pinellas CountyTownhouses and Condos
Median Sale PriceThe median sale price reported for the month (i.e. 50% of sales were above and 50% of sales were below)
2013 2014 2015 2016
Average Sale PriceThe average sale price reported for the month (i.e. total sales in dollars divided by the number of sales)
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Friday, April 21, 2017. Data revised on Monday, January 16, 2017. Next data release is Wednesday, May 24, 2017.
Economists' note : The Median Percent of Original List Price Received
is useful as an indicator of market recovery, since it typically rises as
buyers realize that the market may be moving away from them and
they need to match the selling price (or better it) in order to get a
contract on the house. This is usually the last measure to indicate a
market has shifted from down to up, so it is what we would call a
lagging indicator. April 2016 95.0% 1.2%
March 2016 94.5% 0.7%
June 2016 94.4% 0.6%
May 2016 94.6% 0.9%
November 2016 95.1% 0.6%
October 2016 94.9% 0.6%
September 2016 95.2% 0.8%
August 2016 95.0% 0.8%
July 2016 94.7% 0.6%
January 2017 95.0% 0.6%
December 2016 94.7% 0.0%
March 2017 95.1% 0.6%
February 2017 95.1% 1.0%
March 2016 $147.0 Million 0.5%
MonthMed. Pct. of Orig. List
Price Received
Percent Change Year-
over-Year
May 2016 $160.2 Million -5.8%
April 2016 $178.3 Million 9.0%
July 2016 $135.7 Million -2.4%
June 2016 $165.0 Million 14.9%
December 2016 $147.9 Million 6.6%
Economists' note : Dollar Volume is simply the sum of all sale prices
in a given time period, and can quickly be calculated by multiplying
Closed Sales by Average Sale Price. It is a strong indicator of the
health of the real estate industry in a market, and is of particular
interest to real estate professionals, investors, analysts, and
government agencies. Potential home sellers and home buyers, on the
other hand, will likely be better served by paying attention to trends in
the two components of Dollar Volume (i.e. sales and prices)
individually.
November 2016 $147.1 Million 21.5%
October 2016 $137.0 Million 16.9%
September 2016 $128.0 Million 0.9%
August 2016 $146.6 Million 12.7%
February 2017 $153.0 Million 30.0%
January 2017 $148.9 Million 72.7%
Month Dollar VolumePercent Change Year-
over-Year
March 2017 $199.3 Million 35.6%
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
0%
20%
40%
60%
80%
100%
Me
d. P
ct. o
f O
rig.
Li
st P
rice
R
ece
ive
d
$0
$50 M
$100 M
$150 M
$200 M
$250 M
Do
llar
Vo
lum
e
Monthly Market Detail - March 2017
2013 2014 2015 2016
Pinellas CountyTownhouses and Condos
Dollar VolumeThe sum of the sale prices for all sales which closed during the month
2013 2014 2015 2016
Median Percent of Original List Price ReceivedThe median of the sale price (as a percentage of the original list price) across all properties selling during the month
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Friday, April 21, 2017. Data revised on Monday, January 16, 2017. Next data release is Wednesday, May 24, 2017.
April 2016 77 Days -6.1%
March 2016 77 Days -14.4%
June 2016 86 Days -4.4%
May 2016 83 Days -4.6%
Economists' note : Time to Sale is a measure of the length of the home
selling process, calculated as the number of days between the initial
listing of a property and the closing of the sale. Median Time to Sale is
the amount of time the "middle" property selling this month was on
the market. That is, 50% of homes selling this month took less time to
sell, and 50% of homes took more time to sell. Median Time to Sale
gives a more accurate picture than Average Time to Sale, which can be
skewed upward by small numbers of properties taking an abnormally
long time to sell.
November 2016 78 Days 0.0%
October 2016 81 Days -2.4%
September 2016 80 Days -7.0%
August 2016 85 Days -14.1%
July 2016 79 Days -20.2%
January 2017 82 Days -3.5%
December 2016 84 Days 12.0%
March 2017 70 Days -9.1%
February 2017 91 Days 3.4%
March 2016 40 Days -20.0%
Month Median Time to SalePercent Change Year-
over-Year
May 2016 40 Days -18.4%
April 2016 36 Days -18.2%
July 2016 40 Days -31.0%
June 2016 44 Days -8.3%
December 2016 44 Days 22.2%
Economists' note : Like Time to Sale, Time to Contract is a measure of
the length of the home selling process calculated for sales which
closed during the month. The difference is that Time to Contract
measures the number of days between the initial listing of a property
and the signing of the contract which eventually led to the closing of
the sale. When the gap between Median Time to Contract and Median
Time to Sale grows, it is usually a sign of longer closing times and/or
declining numbers of cash sales.
November 2016 38 Days -5.0%
October 2016 39 Days -15.2%
September 2016 36 Days -20.0%
August 2016 45 Days -19.6%
February 2017 47 Days -4.1%
January 2017 40 Days -9.1%
MonthMedian Time to
Contract
Percent Change Year-
over-Year
March 2017 28 Days -30.0%
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M0
50
100
150
Me
dia
n T
ime
to
Sa
le
0
20
40
60
80
Me
dia
n T
ime
to
C
on
trac
tMonthly Market Detail - March 2017
2013 2014 2015 2016
Pinellas CountyTownhouses and Condos
Median Time to ContractThe median number of days between the listing date and contract date for all Closed Sales during the month
2013 2014 2015 2016
Median Time to SaleThe median number of days between the listing date and closing date for all Closed Sales during the month
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Friday, April 21, 2017. Data revised on Monday, January 16, 2017. Next data release is Wednesday, May 24, 2017.
Economists' note : New Listings tend to rise in delayed response to
increasing prices, so they are often seen as a lagging indicator of
market health. As prices rise, potential sellers raise their estimations
of value—and in the most recent cycle, rising prices have freed up
many potential sellers who were previously underwater on their
mortgages. Note that in our calculations, we take care to not include
properties that were recently taken off the market and quickly
relisted, since these are not really new listings.
Economists' note : Because of the typical length of time it takes for a
sale to close, economists consider Pending Sales to be a decent
indicator of potential future Closed Sales. It is important to bear in
mind, however, that not all Pending Sales will be closed successfully.
So, the effectiveness of Pending Sales as a future indicator of Closed
Sales is susceptible to changes in market conditions such as the
availability of financing for homebuyers and the inventory of
distressed properties for sale.
April 2016 952 3.9%
March 2016 1,007 5.4%
June 2016 761 1.3%
May 2016 871 4.3%
November 2016 827 6.2%
October 2016 805 -12.7%
September 2016 823 6.1%
August 2016 852 10.8%
July 2016 812 21.0%
January 2017 1,012 -1.6%
December 2016 680 -4.0%
March 2017 1,063 5.6%
February 2017 974 -6.1%
March 2016 957 -1.6%
Month New ListingsPercent Change Year-
over-Year
May 2016 810 -0.1%
April 2016 875 -1.4%
July 2016 769 2.5%
June 2016 760 -2.3%
616 5.3%
November 2016 699 4.0%
August 2016 778 5.6%
February 2017 885 6.8%
January 2017 842 9.8%
October 2016 730 -10.0%
September 2016 725 7.6%
December 2016
Month New Pending SalesPercent Change
Year-over-Year
March 2017 1,006 5.1%
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
0
200
400
600
800
1,000
1,200
Ne
w L
isti
ngs
0
200
400
600
800
1,000
1,200
Pe
nd
ing
Sale
s
Monthly Market Detail - March 2017
2013 2014 2015 2016
Pinellas CountyTownhouses and Condos
New Pending SalesThe number of listed properties that went under contract during the month
2013 2014 2015 2016
New ListingsThe number of properties put onto the market during the month
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Friday, April 21, 2017. Data revised on Monday, January 16, 2017. Next data release is Wednesday, May 24, 2017.
Economists' note : There are a number of ways to define and
calculate Inventory. Our method is to simply count the number of
active listings on the last day of the month, and hold this number to
compare with the same month the following year. Inventory rises
when New Listings are outpacing the number of listings that go off-
market (regardless of whether they actually sell). Likewise, it falls
when New Listings aren't keeping up with the rate at which homes are
going off-market.
Economists' note : MSI is a useful indicator of market conditions. The
benchmark for a balanced market (favoring neither buyer nor seller)
is 5.5 months of inventory. Anything higher is traditionally a buyers'
market, and anything lower is a sellers' market. There is no single
accepted way of calculating MSI. A common method is to divide
current Inventory by the most recent month's Closed Sales count, but
this count is a usually poor predictor of future Closed Sales due to
seasonal cycles. To eliminate seasonal effects, we use the 12-month
average of monthly Closed Sales instead.
Month InventoryPercent Change Year-
over-Year
March 2017 2,486 -10.6%
February 2017 2,537 -10.2%
January 2017 2,527 -5.7%
December 2016 2,440 -1.6%
November 2016 2,483 -1.7%
October 2016 2,434 0.3%
September 2016 2,410 0.9%
August 2016 2,421 1.4%
July 2016 2,443 1.2%
June 2016 2,499 -3.4%
May 2016 2,672 -1.5%
April 2016 2,693 -3.9%
March 2016 2,782 -4.5%
Month Months SupplyPercent Change Year-
over-Year
March 2017 3.4 -15.0%
February 2017 3.5 -14.6%
January 2017 3.5 -10.3%
December 2016 3.4 -5.6%
November 2016 3.5 -2.8%
October 2016 3.4 -2.9%
September 2016 3.4 -2.9%
August 2016 3.4 -2.9%
July 2016 3.5 -2.8%
June 2016 3.6 -7.7%
March 2016 4.0 -13.0%
May 2016 3.8 -7.3%
April 2016 3.8 -11.6%
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
0.0
1.0
2.0
3.0
4.0
5.0
6.0
Mo
nth
s Su
pp
ly o
f In
ven
tory
0
1,000
2,000
3,000
4,000
Inve
nto
ry
Monthly Market Detail - March 2017
2013 2014 2015 2016
Pinellas CountyTownhouses and Condos
Inventory (Active Listings)The number of property listings active at the end of the month
2013 2014 2015 2016
Months Supply of InventoryAn estimate of the number of months it will take to deplete the current Inventory given recent sales rates
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Friday, April 21, 2017. Data revised on Monday, January 16, 2017. Next data release is Wednesday, May 24, 2017.
$100,000 - $149,999 178 21.9%
Sale Price Closed SalesPercent Change Year-
over-Year
Less than $50,000 55 -20.3%
$50,000 - $99,999 269 25.1%
$150,000 - $199,999 137 45.7%
$200,000 - $249,999 73 9.0%
$50,000 - $99,999 29 Days -19.4%
$100,000 - $149,999
$400,000 - $599,999 83 93.0%
$600,000 - $999,999 28 47.4%
19 Days -52.5%
Economists' note: Closed Sales are one of the simplest—yet most
important—indicators for the residential real estate market. When
comparing Closed Sales across markets of different sizes, we
recommend comparing the percent changes in sales rather than the
number of sales. Closed Sales (and many other market metrics) are
affected by seasonal cycles, so actual trends are more accurately
represented by year-over-year changes (i.e. comparing a month's sales
to the amount of sales in the same month in the previous year), rather
than changes from one month to the next.
Sale PriceMedian Time to
Contract
Percent Change Year-
over-Year
Less than $50,000 34 Days 25.9%
$1,000,000 or more 13 18.2%
$250,000 - $299,999 51 24.4%
$300,000 - $399,999 68 33.3%
Economists' note : Like Time to Sale, Time to Contract is a measure of
the length of the home selling process calculated for sales which closed
during the month. The difference is that Time to Contract measures
the number of days between the initial listing of a property and the
signing of the contract which eventually led to the closing of the sale.
When the gap between Median Time to Contract and Median Time to
Sale grows, it is usually a sign of longer closing times and/or declining
numbers of cash sales.
$150,000 - $199,999 27 Days -40.0%
$200,000 - $249,999 50 Days 4.2%
$250,000 - $299,999
$400,000 - $599,999 41 Days -31.7%
20 Days -48.7%
$300,000 - $399,999 59 Days 103.4%
$600,000 - $999,999 75 Days 17.2%
$1,000,000 or more 83 Days 53.7%
0102030405060708090
Less than$50,000
$50,000 -$99,999
$100,000 -$149,999
$150,000 -$199,999
$200,000 -$249,999
$250,000 -$299,999
$300,000 -$399,999
$400,000 -$599,999
$600,000 -$999,999
$1,000,000 ormore
Med
ian
Tim
e t
o
Co
ntr
act
March 2016 March 2017
0102030405060708090
0
50
100
150
200
250
300
Less than$50,000
$50,000 -$99,999
$100,000 -$149,999
$150,000 -$199,999
$200,000 -$249,999
$250,000 -$299,999
$300,000 -$399,999
$400,000 -$599,999
$600,000 -$999,999
$1,000,000 ormore
Clo
sed
Sal
es
March 2016 March 2017
0
50
100
150
200
250
300
Monthly Market Detail - March 2017
Pinellas CountyTownhouses and Condos
Closed Sales by Sale PriceThe number of sales transactions which closed during the month
Median Time to Contract by Sale PriceThe median number of days between the listing date and contract date for all Closed Sales during the month
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Friday, April 21, 2017. Data revised on Monday, January 16, 2017. Next data release is Wednesday, May 24, 2017.
Initial Listing Price New ListingsPercent Change Year-
over-Year
Less than $50,000 47 -20.3%
$50,000 - $99,999 231 -14.8%
$100,000 - $149,999 214 28.1%
Economists' note: New Listings tend to rise in delayed response to
increasing prices, so they are often seen as a lagging indicator of
market health. As prices rise, potential sellers raise their estimations
of value—and in the most recent cycle, rising prices have freed up
many potential sellers who were previously underwater on their
mortgages. Note that in our calculations, we take care to not include
properties that were recently taken off the market and quickly relisted,
since these are not really new listings.
$150,000 - $199,999 140 9.4%
$200,000 - $249,999 87 -2.2%
$250,000 - $299,999 72 -6.5%
$300,000 - $399,999 124 20.4%
$400,000 - $599,999 92 43.8%
$600,000 - $999,999 44 37.5%
$1,000,000 or more 12 -29.4%
Current Listing Price InventoryPercent Change Year-
over-Year
Less than $50,000 58 -64.8%
$50,000 - $99,999 397 -26.2%
$100,000 - $149,999 354 -4.8%
Economists' note : There are a number of ways to define and calculate
Inventory. Our method is to simply count the number of active listings
on the last day of the month, and hold this number to compare with the
same month the following year. Inventory rises when New Listings are
outpacing the number of listings that go off-market (regardless of
whether they actually sell). Likewise, it falls when New Listings aren't
keeping up with the rate at which homes are going off-market.
$150,000 - $199,999 278 -9.7%
$200,000 - $249,999 206 -14.2%
$250,000 - $299,999 215 -6.1%
$300,000 - $399,999 353 10.0%
$400,000 - $599,999 289 3.6%
$600,000 - $999,999 203 -7.7%
$1,000,000 or more 133 20.9%
0
50
100
150
200
250
300
Less than$50,000
$50,000 -$99,999
$100,000 -$149,999
$150,000 -$199,999
$200,000 -$249,999
$250,000 -$299,999
$300,000 -$399,999
$400,000 -$599,999
$600,000 -$999,999
$1,000,000 ormore
New
Lis
tin
gs
March 2016 March 2017
0
100
200
300
400
500
600
Less than$50,000
$50,000 -$99,999
$100,000 -$149,999
$150,000 -$199,999
$200,000 -$249,999
$250,000 -$299,999
$300,000 -$399,999
$400,000 -$599,999
$600,000 -$999,999
$1,000,000 ormore
Inve
nto
ry
March 2016 March 2017
0
100
200
300
400
500
600
0
50
100
150
200
250
300
Monthly Market Detail - March 2017
Pinellas CountyTownhouses and Condos
New Listings by Initial Listing PriceThe number of properties put onto the market during the month
Inventory by Current Listing PriceThe number of property listings active at the end of the month
Closed Sales
Median Sale Price
Closed Sales
Median Sale Price
Closed Sales
Median Sale Price
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Friday, April 21, 2017. Data revised on Monday, January 16, 2017. Next data release is Wednesday, May 24, 2017.
March 2017 March 2016Percent Change Year-
over-Year
Traditional
907 689 31.6%
$144,000 $135,000 6.7%
Foreclosure/REO
37 60 -38.3%
$118,000 $87,750 34.5%
Short Sale
11 7 57.1%
$85,050 $134,000 -36.5%
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
Me
dia
n S
ale
Pri
ce
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Clo
sed
Sal
es
Traditional Foreclosure/REO Short Sale
2013 2014 2015 2016
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
Monthly Distressed Market - March 2017
Pinellas CountyTownhouses and Condos
2013 2014 2015 2016