Your October 2018 Real Estate Market Update

Dated: 11/28/2018

Views: 128

Your October 2018 Real Estate Market Update

Image title


The October Pinellas County Real Estate Stats are in and the news continues to be great for our area! Once again, the stats continue to show growth in both single family home sale prices and condo/townhouse sale prices. In October 2018, the average single family home sale price grew to $321,704, which is equivalent to an 8.2% increase year over year. For condos and townhouses in Pinellas County, sales prices grew a whopping 20% to $248,653, compared to an average sales price of just $207,280 in October of last year.

Housing inventory has been steadily growing over the last few months, but remains at historical lows, with just 2.9 months of inventory available in the single family home market and 3 months of inventory available in the condo/townhouse market.

Despite rising interest rates, the Pinellas County real estate market remains strong, with growth in sold units of 8.2% and cash sales at 6.8%, compared to October 2017. We believe this growth is due to currently low unemployment rates, close proximity to the beaches, and convenient access to Tampa. Based on what we see on a day to day basis in our real estate market, the team at Sandy Hartmann & Associates believes we’ll continue to see steady growth in our housing market through the end of the year. While sales have seen decreases in other markets around the country recently, the average home price in Pinellas County is still considered a bargain by many, compared to similar areas in the U.S. where home prices and state income taxes have maxed out affordability for many home buyers.

To see the full October 2018 Pinellas Real Estate Stats Report,CLICK HERE.

Blog author image

Andrea Hartmann

Andrea is the Managing Partner of Sandy Hartmann & Associates. She is a licensed Realtor with over 13 years of Marketing and Finance experience, holding a degree in both Finance and International Busi....

Want to Advertise on this Site?

Latest Blog Posts

Beautiful 4 Bedroom Home For Sale In Largo FL

BEAUTIFUL 4 BEDROOM HOME FOR SALE IN LARGO11820 85th Street, Largo, FL 33773MLS #U8026445SIMPLY BEAUTIFUL 4BR + LOFT/2.5BA, TWO STORY HOME IN SOMERSET LAKE ESTATES. SITUATED ON A ¼+ ACRE LOT. THIS

Read More

Beautifully Updated 3 Bedroom Home For Sale In St Petersburg FL

Beautifully Updated 3 Bedroom Home For Sale in St Petersburg, FLA Must See in the Jungle Terrace Neighborhood!DON'T MISS OUT ON THIS BEAUTIFUL, COMPLETELY REMODELED HOME IN THE JUNGLE TERRACE

Read More

Preparing To Sell Your Home And The Most Important Things To Focus On

     Preparing to sell your home can be a very emotional and sometimes daunting, exhausting task. Many sellers ask themselves "where do I begin" or worse yet are sometimes in denial

Read More

6000 Square Feet Of Soul At An Unbelievable Price

An estate for $300,000? Yes and it’s Aretha Franklin’s! I couldn’t believe my eyes when I saw the other morning that you could purchase an icon’s mansion, almost 6000 square feet + 1/2 acre

Read More