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July 2017 Real Estate Stats For Pinellas County
Wondering how the Pinellas County real estate market is doing?
The July 2017 real estate stats are in and the results continue to show a booming real estate market in Pinellas County.
For single family home sales, our biggest hurdle continues to be limited amounts of inventory. With inventory down -5.4% in July, buyers continue to face challenges when it comes to finding their perfect home. Low mortgage interest rates, along with a booming job market in Tampa Bay are bringing more home buyers than ever to the area, making it one of the most aggressive real estate markets we've seen in years!
For home buyers, it's important to know that the median time to contract on a home that's been newly listed for sale is down to just 19 days. To put it more simply, homes are selling over 30% faster than they were in July 2016! With limited real estate inventory and high demand, the average sale price of a single family home in Pinellas County has increased 8.5% year over year to $312,210.
As for condos and townhouses, the news is similar, with the inventory down -10.8%, and an average sales price of $226,638 (which is +13.9% higher than last year at this time!). The market for condo and townhouse buyers is also somewhat aggressive, with the median time to contract at just 32 days vs 40 days in July 2016.
For more details on these stats from the Florida Board of Realtors, please click HERE.
As always, feel free to contact the Sandy Hartmann Team for all your real estate needs. With over 30 years of experience, we know we can help you with all of your home buying and selling needs!
Andrea is the Managing Partner of Sandy Hartmann & Associates. She is a licensed Realtor with over 15 years of Marketing and Finance experience, holding a degree in both Finance and International Busi....
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