Every month, we dig into the freshest numbers released by the Stellar MLS and Florida Realtors so our neighbors here in Pinellas County always know exactly where the market stands. August 2026 brought a market that is settling into a steadier rhythm. Prices keep climbing, homes that are priced right are moving fast, and buyers finally have a bit more breathing room than they have had in years, especially in the condo and townhome world. Let's walk through what actually happened, starting with single family homes.

Single Family Homes: Prices Keep Climbing While Fewer Homes Change Hands

Pinellas County single family homes, August 2026 versus August 2025

Closed sales for single family homes dipped 8.3 percent year over year, landing at 854 for the month. At the same time, the median sale price climbed to $464,950, a healthy 6.9 percent jump from last August. That combination tells a clear story. Fewer buyers closed on homes in August, but the ones who did paid more, because the homes on the market held their value and then some. Sellers received a median of 95.3 percent of their original list price, up from 93.3 percent a year ago, which tells us pricing strategy and presentation are paying off for the sellers who get it right.

Closed single family home sales in Pinellas County, month by month since 2022. August 2026 landed at 854 closings. Source: Florida Realtors, Stellar MLS.

Maybe the most telling number in the whole report is median time to contract, which dropped to just 37 days, down almost 23 percent from last year. Homes are going under contract faster even though fewer of them are selling overall. That usually means the homes that hit the market this year were priced with more intention from day one, and buyers who are serious are not waiting around once they find the right one.

Median sale price for Pinellas County single family homes has been on a steady upward path through 2026. Source: Florida Realtors, Stellar MLS.

What the single family numbers mean for you

Months supply of inventory sat at 3.5 in August, well under the 5.5 month mark that economists consider a balanced market. That keeps single family homes squarely in seller favorable territory, though it has eased noticeably from 4.4 months a year ago. For sellers, this remains a strong window. Homes in good condition, priced to the current market rather than to last year's numbers, are still finding buyers quickly and often at very close to asking price. For buyers, the silver lining is that cash sales dropped to 30.6 percent of closings, down from 33.9 percent last year, and financed buyers are competing on more even footing than they were during the most competitive years of this market. New listings also slowed a bit, down 6.7 percent, so buyers who find a well priced, move in ready home should be prepared to move with confidence rather than wait it out.

Months supply of inventory for single family homes. Anything under 5.5 months favors sellers. August 2026 sat at 3.5 months. Source: Florida Realtors, Stellar MLS.

Condos and Townhomes: More Room to Breathe, Especially for Buyers

Pinellas County condos and townhomes, August 2026 versus August 2025

The condo and townhome market told a slightly different story in August. Closed sales came in at 463, down 6.5 percent from last year, while the median sale price rose to $275,000, up a solid 5.8 percent year over year. That is genuinely good news for owners in this segment, since it shows the everyday, attainably priced condo market is still appreciating even while overall sales activity has cooled.

Closed condo and townhome sales in Pinellas County, month by month since 2022. Source: Florida Realtors, Stellar MLS.

One number worth pausing on is average sale price, which fell 21.9 percent to $359,926. That is a much bigger swing than the median price tells you, and it points to a specific trend rather than a general price decline. Closed sales of condos priced at one million dollars or more dropped by more than half, from 48 last August down to just 20 this August. The luxury and waterfront condo segment slowed considerably, and because average price gets pulled around by those bigger sales, it dropped even as the typical, everyday condo kept gaining value. Median time to contract also stretched to 74 days, up almost nine percent, telling us buyers are taking a bit more time to make a decision, particularly at the upper end.

Median sale price for Pinellas County condos and townhomes, trending steadily higher through 2026. Source: Florida Realtors, Stellar MLS.

What the condo numbers mean for you

Months supply of inventory for condos and townhomes sat at 6.4, which is still above the 5.5 month balanced benchmark, meaning this remains a buyer favorable market overall. That said, 6.4 months is a big improvement from the 8.0 months we saw a year ago, so the gap between condos and single family homes is narrowing steadily. Cash buyers remain very active here, making up 59 percent of condo closings, essentially flat from last year, which continues to reflect strong interest from investors, snowbirds, and downsizers who are buying without financing contingencies.

Months supply of inventory for condos and townhomes. August 2026 sat at 6.4 months, still buyer favorable but tightening from 8.0 months a year ago. Source: Florida Realtors, Stellar MLS.

Where We Think Pinellas Real Estate Is Headed Through the End of the Year

Pull back and look at the whole county together, and a clear picture comes into focus. Total closed sales across all property types fell 7.6 percent in August, inventory tightened 12.1 percent year over year, and new listings slowed too. That is not a market losing steam. It is a market with fewer sellers testing the waters and fewer bargain hunters shopping impulsively, which tends to produce steadier, more sustainable price growth rather than the sharp swings we saw a few years back.

Absorption rate measures the share of active listings that sold in a given month. It is calculated by dividing closed sales by active inventory, so a higher bar means homes moved faster that month. Each color below represents a different year, which makes it easy to see how this year compares to the last few.

Single Family Homes

Each bar shows the percentage of active single family inventory that sold that month. Light blue is 2023, navy is 2024, olive is 2025, and light green is 2026. Source: Stellar MLS.

Condos and Townhomes

Same measurement applied to condos and townhomes. Light blue is 2023, navy is 2024, olive is 2025, and light green is 2026. Source: Stellar MLS.

Looking at both charts above, both segments have settled into a calmer, more predictable rhythm compared to the dramatic swings of 2023. Single family homes are absorbing inventory at roughly the same pace as last year, keeping that segment in seller favorable territory through the fourth quarter. Condos are absorbing more slowly, but the trend line has been ticking upward, which tells us buyer demand is quietly building even as headlines focus on higher months of supply.

Our expectation for the rest of 2026 is a market that keeps doing exactly what it has been doing. Single family home prices should keep inching higher into the fall and winter buying season, supported by tight inventory and steady, serious buyer demand. Condos should continue closing the gap with single family homes as more buyers recognize the value sitting on the table right now, particularly once mortgage rates settle and clarity around insurance and building reserves continues to improve. We do not expect dramatic swings in either direction. This looks like a market finding its balance, and that is good news no matter which side of the closing table you are sitting on.

Our advice heading into the last quarter of the year: sellers should price to today's data, not last year's headlines, and buyers who have been sitting on the sidelines, especially in the condo market, have a real opportunity in front of them right now.