The June 2018 Real Estate Stats Update For Pinellas County
The June 2018 Real Estate Stats Update For Pinellas County
The June 2018 Pinellas County Real Estate Stats
The June 2018 Pinellas County real estate market stats are here! The results are fairly mixed when it comes to the health of the real estate market, so let's get to it!
Single family home sales for June 2018 decreased -12.3% compared to closed sales in June 2017, despite positive growth in actively listed home inventory for the 2nd month in a row (up +5.8% year over year). We also saw a -13.5% decline in cash sales year over year as well.
However, the real estate market continues to see upside in single family home sale prices, with the median single family home sale price in Pinellas County growing another +7.2% to $266,375. Median times to contract and median times to a closed sale also shortened, suggesting that homes that sell are still closing in a relatively short amount of time.
So what does this mean for the Pinellas County real estate market?
Based on these stats and from what we’re seeing on a day to day basis in the field, there’s certainly been a "leveling off" period when it comes to what buyers are willing to pay for a home, after years of double digit home price growth, plus recent increases in mortgage interest rates. We're seeing double digit home price growth shrink to single digit growth now, which supports our theory further that home price growth may be cooling off. Remember, this does not mean home prices are necessarily decreasing, nor do the stats reflect any decreases in home prices. What it likely means is that the growth portion of the market is simply slowing down. Historically, a healthy home investment should increase in value just 4% per year. Anything above that is considered a bonus.
We’re often asked how to navigate a real estate market that seems to be shifting. The answer is to simply to let us study the comps and trends for you and then let’s get your home priced right. Homes that are priced according to our comps and extensive market research, along with our unmatched marketing plans, are still selling in record time- often with multiple offers! We have to remember that there are still lots of buyers out there hoping for the perfect home. We ensure they can not only find your home easily, but when they do, the listing will look GREAT.
For our buyers, we recommend speaking to an experienced and reputable lender to find out what you’re approved for, ahead of shopping for a home. Get an idea of closing costs from our title partners ahead of time as well. Then let our experienced team of buyer’s agents find you the best homes in your price point so you know you’re making a sound investment for your future. Next, be prepared to make a competitive offer! And remember, even though interest rates have risen, the rates are historically still very competitive.
To see the full report on the Pinellas County June 2018 real estate stats, click here.
Author:Andrea Hartmann Phone: 727-324-8183 Dated: July 27th 2018 Views: 501 About Andrea: Andrea is the Managing Partner of Sandy Hartmann & Associates. She is a licensed Realtor with over 1...
About Sandy Hartmann & Associates Real Estate Team of Tampa Bay FL
Sandy Hartmann & Associates Real Estate Team, your Tampa Bay Real Estate source, has been helping home buyers and home sellers in Tampa Bay, FL since 1979. We deliver a brand of real estate services based on integrity and years of expertise that is unmatched. We are the #1 Keller Williams Real Estate Team in Tampa Bay and we are ranked in the top 1% of Realtors Nationwide. In 2017, we sold over 69 million dollars in homes!
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Our real estate team was founded with the vision of becoming the real estate team of choice in Pinellas County & Tampa Bay, FL. That means always putting our customer's needs first, and having the integrity to do the right thing, every time. Come find out why Sandy Hartmann and Associates is the #1 Real Estate Team in the City of Seminole, #1 in the City of Largo, and the #1 Keller Williams Team in Tampa Bay.
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"“My husband and I were very impressed with the expertise and responsiveness of our listing agent, Danielle Lower. She went out of her way to help us through the selling process, from arranging the meetings with the contractors, to working with the home stagers. She is very patient and very professional. After a month of working with her, we got to meet the whole Sandy Hartman team. We are very impressed. We've never worked with such a professional real estate office like that before. Everything is well coordinated. We also appreciated the work of the back office team, very polite & courteous. We sold our dear house in Madeira Beach and then bought another house through our dedicated and trustworthy agent, Danielle Lower. We intend to continue working with her for our future real estate transactions.” "