Real Estate Market Update

Pinellas County Florida

(Clearwater, Palm Harbor, Tarpon Springs, Dunedin and St Petersburg ) 

 

 

 

 The correlation between these real estate metrics reveals important trends in the current market conditions for both buyers and sellers. 

First, let's look at the Months Supply of Inventory, which is currently at 4.95. This indicates that there is a healthy balance between supply and demand in the market. A lower number suggests a seller's market, while a higher number indicates a buyer's market. 

Next, the 12-Month Change in Months of Inventory has increased by an alarming rate of +234.46%. This sharp increase in inventory over the past year could potentially lead to a shift towards a buyer's market, as there is now more competition among sellers. 

Despite this increase in inventory, the Median Days Homes are On the Market remains relatively low at 38 days. This indicates that homes are selling quickly, which could be due to the List to Sold Price Percentage of 96.5%. This high percentage suggests that sellers are pricing their homes competitively and buyers are willing to pay close to the asking price. 

Lastly, the Median Sold Price of $411,000 reflects the current market value of homes in this area. This price point may be attractive to both buyers looking for affordable options and sellers looking to maximize their profits. 

In conclusion, these metrics suggest a dynamic real estate market where buyers and sellers can both find opportunities. Buyers may benefit from the increase in inventory and quick sales, while sellers can take advantage of the high list to sold price percentage. It is important for both parties to stay informed and adapt to the changing market conditions to achieve their real estate goals.