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Pinellas County homes sold faster than last year, Realtor association says

in The Bay and the 'Burg/Top Headlines by

Pinellas County homes sold faster and at higher prices in March than they did a year ago, according to newly released statistics from the Pinellas Realtor Association.

Sales of single family homes went up 19 percent last month compared to March 2015, and the median time to sale came in at 73 days – two weeks quicker than a year ago.

Sellers also got a bit more money, too, with the median sale going for 96 percent of the original list price. Last March, sellers got about 94 percent of the original price.

Condos and townhomes didn’t fare as well. Total sales dropped about 2 percent year-over-year, and sellers got less than a percent closer to they price they wanted, with the median deal coming in at 94.5 percent of the original listing.

New condo listings were up double digits last month, however, which wasn’t the case for single family homes which stayed at about the same level year-over-year.

The sticker price of Pinellas County homes has gone up considerably as well. The median sale price in the single family bracket was $200,000, compared to $175,000 a year ago, and median condo sale registered at $132,000, a $12,000 gain year-over-year.

Home inventory saw decreases last month, though. The Realtor group estimates there is about 3.5 months’ worth of single-family homes in inventory compared to over four months last year and the supply of condos slipped by a few weeks to about 4.5 months’ worth in March.

Drew Wilson covers legislative campaigns and fundraising for SaintPetersBlog and FloridaPolitics.com. While at the University of Florida, Wilson was an editor at The Independent Florida Alligator and after graduation, he moved to Los Angeles to cover business deals for The Hollywood Reporter. Before joining Extensive Enterprises, Wilson covered the state economy and Legislature for LobbyTools.

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