The December 2021 Real Estate Stats For Pinellas County

Dated: January 24 2022

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The December 2021 Real Estate Stats for Pinellas County, Florida

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The December 2021 stats are in and as you can imagine it was another wild month in real estate in the Pinellas County market. Closed sales in Pinellas County were practically flat (aka the same) year over year, with just 4 more closed sales in December 2021 compared to December 2020. Cash transactions grew as buyers competed for limited housing inventory in a market where active home listings were a whopping -45% lower than the year before at the same time.

Check out our breakdown below for even more stats on the Pinellas County real estate market that you don’t want to miss:

The Single-Family Home Market

Pinellas County December 2021 Single-Family Home Stats

Closed Sales- The Pinellas County housing market saw a small drop in closed sales of single-family homes in December, with just 10 less than the year before at the same time. The Median sale price increased by +24% to $395,000 year over year and cash sales were up +7.7% as buyers competed for homes.

Single-Family Home Inventory- This is where our real estate market gets tough. In December, the months supply of inventory was about -42% lower than it was the year prior. As more buyers have entered our housing market in Pinellas County, this has brought the competition for homes to a peak in many ways. With just 921 new listings in December, but 948 homes going under contract, there seems to be no uptick in housing inventory headed our way any time soon.

Most Popular Price Points- Even in a hot housing market like the Tampa Bay area is seeing, pricing is everything. Homes that are priced correctly and properly staged, continue to collect the highest prices and the most offers in our market. In the Pinellas County real estate market, the top price points were in the $300,000-$599,999 range, representing 53% of all closed single-family home sales in Pinellas for the month of Dec 2021.

The Condo/Townhouse Market

Pinellas County December 2021 Condo/Townhouse Real Estate Stats

Closed Sales- In the townhouse/condo market, closed sales were just +1.7% higher in December 2021 compared to December 2020. Meanwhile, cash sales jumped +16% and the median sale price climbed +34.5% to $277,500 vs $206,250 in December 2020.

Condo/Townhouse Inventory- Sitting at just .8 months of inventory in Pinellas County, representing a -60% DROP in inventory compared to the year before (when inventory was already very low), the Pinellas County condo/townhouse market remains one of the most competitive in the state. To give more context, inventory has been low for over 5 years now in the Pinellas County real estate market, with no signs of an increase any time soon. As a reminder, Pinellas County is the 2nd smallest county in Florida, but has some of the best beaches in the state, drawing thousands of people every year from other locations looking for a home by the beach. In our opinion, it’s unlikely that this will change anytime soon. Investing in real estate in the Pinellas County housing market is likely going to be a solid long term investment. 

Most Popular Price Points- The Pinellas County condo/townhouse market had the most transactions in the $150,000-$199,999 price range in December of 2021 with 146 closed sales. The $300,000-$399,999 price range followed closely behind with 127 closed sales for the month. Compared to other top real estate markets around the country, many out-of-state buyers would still consider these prices reasonable, which will continue to fuel the desirability of our housing market for relocating buyers.

What Should Buyers and Sellers Do Now?

For Our Buyers

While the Pinellas County housing market’s biggest constraint appears to be low inventory month after month, there’s still hope for buyers that are hoping to find a great home. Top economists have predicted the average home price in Tampa Bay will INCREASE by 8%-12% in 2021. This means buyers who can secure a home this year are still likely to see their investment grow. Our best advice for buyers entering our housing market is to come prepared with a pre-approval letter from a dependable lender and/or proof of funds before beginning their home search. Sellers are reviewing multiple offers on the best homes and will select the cleanest offers with the fewest contingencies and least amount of guesswork when it comes to buyer reliability.   

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For Our Sellers

For homeowners that are thinking about selling their homes in 2021, our recommendation remains the same as it has over the past 2 years- pricing is everything and make sure your home is properly staged, decluttered, and thoroughly cleaned to get the best results in this housing market. Many sellers will continue to receive multiple offers on their homes in the 1st quarter of 2021. To get the best price and most competitive offers, you’ll want to make sure your home shines. Avoid advice from brokers who tell you to just ‘forget about the details’ and list your home without any cleanup or staging. It could cost you thousands of dollars in the end.

Thinking About Buying or Selling a Home and Need More Help?

For more real estate advice, contact us by sending us a message or call us today at (727) 400-3315 to speak with our real estate agent team. The Sandy Hartmann Group has been helping clients buy and sell homes in the Pinellas County and Tampa Bay real estate market for over 35 years. Let’s chat today about how we can help you reach your real estate goals!

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Andrea Hartmann

Andrea is the Managing Partner of The Sandy Hartmann Group and runs the team alongside Sandy Hartmann. She would love to talk to you about real estate! Andrea was born and raised in the Tampa Bay a....

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