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Pinellas County Real Estate Market Update For May 2017
Find Out What's Happening in the Pinellas County
Real Estate Market
With another great month in Pinellas County Real Estate on the books, Sandy Hartmann & Associates is pleased to share with you that Pinellas home sales remain strong. May 2017, was another banner month, with the average single family home price increasing 23% year over year. Sold units were up 9.6%, despite limited inventory, which continues to be a trend in the Pinellas home market.
Meanwhile in the condo and townhome market, we saw a strong 12% increase in closed sales in May 2017 year over year. The average sale price increased just over 13%, while inventory in the condo and townhouse market remained flat to last year for the most part.
Lastly, when thinking about buying or selling a home, it’s always a good idea to know how fast the market is moving. When it comes to Single Family Home Sales, time to go under contract DECREASED by -3.6% and for Condos and Townhomes, time to contract decreased a WHOPPING -20%!
To put this in more perspective, the median time that Single Family Homes go under contract in Pinellas County has decreased to just 27 days (with many of our listings selling much faster than that on the Hartmann Team!), with Condos and Townhomes going under contract in a median time of just 32 days!
Want to read the full Pinellas County Real Estate Statistics Report for May 2017? Click the report image below for full details.
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Thank you as always for supporting the Sandy Hartmann Team!
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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