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The Weekly Pinellas County Housing Stats For Oct 13th 2020
Dated: October 13 2020
Your Weekly Housing Market Stats
We're reporting on the weekly Pinellas County Housing Stats to keep you informed! Check out the latest stats below:
New Listings- Last week we saw a +35% jump in new inventory, but unfortunately we aren’t seeing those gains for a 2nd week in a row. The median list price for newly listed single family homes was $369,500 (about the same as the week prior) and for townhouses and condos $237,450 (about -5% lower than the week prior).
New Contracts (Pending)- Down -2% week over week. Not a huge change, but the 2nd week in a row we’ve seen small declines. This is an important metric to watch as it can tell us how low inventory is affecting our market, if demand is changing, and how long homes are sitting on the market before going under contract. The median price for single family homes that went under contract last week was $300,000, about -7.6% lower than the week prior, with median days until contract sitting at 9 days. For townhouses/condos, the median price of units that went under contract last week was $199,700, which is about the same as the week prior (less than a 1% variance) with median days until contract at 22 days (about a week faster).
Sold Properties (Closings) - Down -38% week over week. It’s normal to see a decline the 1st week of a new month. In the beginning of September, closings dropped -22% compared to the last week of August. This month's drop is higher than the one we saw last month around the same time, so something we’ll be watching closely in coming months. The median sale price of a single family home was $310,495 last week, with the average listing on the market just 7 days. For townhouses/condos, the median sale price was $180,000, with median days on market at just 15 days.
Andrea is the Managing Partner of The Sandy Hartmann Group. Andrea was born and raised in the Tampa Bay area and is a licensed Realtor with over 15 years of Marketing and Finance experience, holding ....
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