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Waterfront Home Sale Trends For Pinellas County Florida
Dated: October 19 2020
Waterfront Home Trends for Pinellas County, Florida
A recent article in the New York Times recently revealed that climate change may be slowing waterfront home sales in some parts of Florida. As you may know, The Sandy Hartmann Group specializes in waterfront real estate in Pinellas County and the Greater Tampa Bay area. Naturally, we wanted to address some of the points made in the article and show our readers what the waterfront home trends for Pinellas County are showing us. Read below to get more details on our thoughts on this and as always, please feel free to reach out to us any time for your real estate needs and questions:
Waterfront Home Sale Trends for the Past 3 Years Compared to 2014 Sales:
2020- 3070 Sales total (Year has not finished)
Average Sale Price/List Price 97%
Median Price $439,950 with 37 days to Contract
2019- 3824 Sales
Average Sale Price/List Price 96%
Median Price of $409,450 with 44 Days to Contract
2018- 3880 Sales
Average Sale Price/List Price 96%
Median Price of $382,975 with 41 Days to Contract
2014- 3345 Sales
Average Sale Price/List Price- 95%
Median Price of $305,000 with 64 Days to Contract
For even more data, check out our chart below that shows waterfront home Price Trends for the past 10 years in Pinellas County:
Since 2014, prices of waterfront homes around Pinellas County have grown by +44% and waterfront homes are going under contract in about half the time it took to go under contract back then (37 days in 2020 vs 64 days in 2014).
There has been a steady increase in sale prices when it comes to Pinellas County waterfront home sales, as the population in our area grows. Existing home inventory has slowed dramatically in our area over the past few years and this includes waterfront homes. We believe our housing inventory issue will continue to drive prices higher for both waterfront and non-waterfront homes. Vacant land in Pinellas County, FL is also drying up for development and developers are paying higher prices than ever for waterfront land, often buying existing properties to knock down and rebuild.
We believe this upward price trend will continue in Pinellas, pending any unforeseen circumstances or flood insurance changes, as Pinellas County is rarely the victim of a direct hit hurricane (compared to the Panhandle and East Coast Areas that are more susceptible) and many areas were big winners in Pinellas County when the new flood maps were issued, lowering flood rates for many waterfront and inland homeowners. Compared to the East Coast of Florida and the Panhandle areas, we believe Pinellas County is certainly one of the more desirable, higher elevation areas to purchase a waterfront home in. As experienced waterfront Realtors, we continue to feel that investing in waterfront properties in our area is a great long-term investment based on recent and past trends.
Have more questions about buying a waterfront home? Please feel free to call us at (727) 400-3315 or message us through our website to get more information.
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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