Tampa Bay HomesAnthony Pera, Licensed REALTOR® 727-860-1196
Real Estate Market Update
Pinellas County Florida
(Clearwater, Palm Harbor, Tarpon Springs, Dunedin and St Petersburg )
Single Family Homes
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As a real estate professional, it is important to understand the correlation between various metrics in the market to better assist buyers and sellers in making informed decisions.
One key metric to consider is the Months Supply of Inventory, which currently stands at 3.62. This indicates the number of months it would take to sell all the current inventory of homes on the market at the current pace of sales. A lower number typically signifies a seller's market, while a higher number indicates a buyer's market.
The 12-Month Change in Months of Inventory has seen a significant increase of +93.58%, suggesting a shift in the market towards more inventory available for buyers. This could potentially lead to more negotiating power for buyers as they have more options to choose from.
The Median Days Homes are On the Market is 31, indicating that homes are selling relatively quickly in this market. This could be a result of high demand from buyers, as well as competitive pricing strategies from sellers.
The List to Sold Price Percentage is at 95.7%, showing that homes are selling close to their list price. This is a positive sign for sellers, as it indicates that they are pricing their homes effectively and buyers are willing to pay close to the asking price.
Lastly, the Median Sold Price in this market is $455,000, giving buyers and sellers a benchmark for the average price of homes in the area. This information can help both parties determine a fair market value for properties and make informed decisions when buying or selling.
Overall, these metrics paint a picture of a market with a healthy balance between supply and demand, where homes are selling quickly and close to their asking price. Buyers and sellers can use this data to navigate the market effectively and make smart real estate decisions.
Condominium Market
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When we look at the real estate market data for this particular area, we can see some interesting correlations between key metrics that can provide valuable insights for both buyers and sellers.
First, let's take a look at the Months Supply of Inventory, which currently stands at 4.57. This metric indicates how long it would take for all the current homes on the market to be sold at the current sales pace. A lower number typically indicates a seller's market, while a higher number indicates a buyer's market.
The 12-Month Change in Months of Inventory shows a significant increase of +112.56%. This suggests that there has been a notable shift in market conditions over the past year, potentially leading to more inventory available for buyers to choose from.
Despite this increase in inventory, the Median Days Homes are On the Market is relatively low at 37 days. This indicates that homes are selling relatively quickly, which could be a result of competitive pricing or strong buyer demand in the area.
The List to Sold Price Percentage is at 95.7%, showing that homes are generally selling close to their list price. This can be reassuring for sellers, as it indicates a strong market where buyers are willing to pay close to asking prices.
Lastly, the Median Sold Price is $412,600. This gives potential buyers and sellers an idea of the average price point in the market, helping them make informed decisions about pricing and negotiations.
Overall, the data suggests that this real estate market is dynamic and in a state of transition, with an increase in inventory but still strong demand driving relatively quick sales and close-to-list pricing. Buyers and sellers alike can use this information to navigate the market effectively and make informed decisions.
Single Family Homes
As a real estate professional, it is important to understand the correlation between various metrics in the market to better assist buyers and sellers in making informed decisions.
One key metric to consider is the Months Supply of Inventory, which currently stands at 3.62. This indicates the number of months it would take to sell all the current inventory of homes on the market at the current pace of sales. A lower number typically signifies a seller's market, while a higher number indicates a buyer's market.
The 12-Month Change in Months of Inventory has seen a significant increase of +93.58%, suggesting a shift in the market towards more inventory available for buyers. This could potentially lead to more negotiating power for buyers as they have more options to choose from.
The Median Days Homes are On the Market is 31, indicating that homes are selling relatively quickly in this market. This could be a result of high demand from buyers, as well as competitive pricing strategies from sellers.
The List to Sold Price Percentage is at 95.7%, showing that homes are selling close to their list price. This is a positive sign for sellers, as it indicates that they are pricing their homes effectively and buyers are willing to pay close to the asking price.
Lastly, the Median Sold Price in this market is $455,000, giving buyers and sellers a benchmark for the average price of homes in the area. This information can help both parties determine a fair market value for properties and make informed decisions when buying or selling.
Condominium Market
When we look at the real estate market data for this particular area, we can see some interesting correlations between key metrics that can provide valuable insights for both buyers and sellers.
First, let's take a look at the Months Supply of Inventory, which currently stands at 4.57. This metric indicates how long it would take for all the current homes on the market to be sold at the current sales pace. A lower number typically indicates a seller's market, while a higher number indicates a buyer's market.
The 12-Month Change in Months of Inventory shows a significant increase of +112.56%. This suggests that there has been a notable shift in market conditions over the past year, potentially leading to more inventory available for buyers to choose from.
Despite this increase in inventory, the Median Days Homes are On the Market is relatively low at 37 days. This indicates that homes are selling relatively quickly, which could be a result of competitive pricing or strong buyer demand in the area.
The List to Sold Price Percentage is at 95.7%, showing that homes are generally selling close to their list price. This can be reassuring for sellers, as it indicates a strong market where buyers are willing to pay close to asking prices.
Lastly, the Median Sold Price is $412,600. This gives potential buyers and sellers an idea of the average price point in the market, helping them make informed decisions about pricing and negotiations.
Overall, the data suggests that this real estate market is dynamic and in a state of transition, with an increase in inventory but still strong demand driving relatively quick sales and close-to-list pricing. Buyers and sellers alike can use this information to navigate the market effectively and make informed decisions.
Contact Information
Anthony Pera, REALTOR® - FLORIDA LIC# 3430304Dalton Wade Real Estate Group
260 1st Ave S suite 200
St Petersburg, FL 33701
St Petersburg, FL 33701
Phone: 1 727 914 9174
Cell: 727-860-1196
Send a message
Equal Housing Opportunity. This material is based on information which we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete and should not be relied on as such. This offering is subject to errors, omissions, change of price or withdrawal without notice. | All information is deemed reliable but is not guaranteed.