Your October 2018 Real Estate Market Update

Dated: November 28 2018

Views: 433

Your October 2018 Real Estate Market Update

Image title


The October Pinellas County Real Estate Stats are in and the news continues to be great for our area! Once again, the stats continue to show growth in both single family home sale prices and condo/townhouse sale prices. In October 2018, the average single family home sale price grew to $321,704, which is equivalent to an 8.2% increase year over year. For condos and townhouses in Pinellas County, sales prices grew a whopping 20% to $248,653, compared to an average sales price of just $207,280 in October of last year.

Housing inventory has been steadily growing over the last few months, but remains at historical lows, with just 2.9 months of inventory available in the single family home market and 3 months of inventory available in the condo/townhouse market.

Despite rising interest rates, the Pinellas County real estate market remains strong, with growth in sold units of 8.2% and cash sales at 6.8%, compared to October 2017. We believe this growth is due to currently low unemployment rates, close proximity to the beaches, and convenient access to Tampa. Based on what we see on a day to day basis in our real estate market, the The Sandy Hartmann Group believes we’ll continue to see steady growth in our housing market through the end of the year. While sales have seen decreases in other markets around the country recently, the average home price in Pinellas County is still considered a bargain by many, compared to similar areas in the U.S. where home prices and state income taxes have maxed out affordability for many home buyers.

To see the full October 2018 Pinellas Real Estate Stats Report, CLICK HERE.

Blog author image

Andrea Hartmann

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 ....

Want to Advertise on this Site?

Latest Blog Posts

Learn More About The Surfside Towers Condominium In Madeira Beach FL

Learn More About The Surfside Towers Condominium in Madeira BeachLooking for the perfect condo on the beach to call home? Or a beachfront investment property you can generate income from?

Read More

Dont Sell A Home On Your Own Just Because Its A Sellers Market

Don’t Sell a Home on Your Own Just Because It’s a Sellers’ MarketIn a sellers’ market, some homeowners might be tempted to try to sell their home on their own (known as 

Read More

Luxury 4 Bedroom Home For Sale In Seminole

Luxury 4-Bedroom Home For Sale in Seminole, Florida7100 131st Street, Seminole, Florida 33776Offered by The Sandy Hartmann Group for $1,200,000LIVE JUST MINUTES FROM THE BEACH IN THIS STUNNING,

Read More

Find Out How Much Money You Can Save Listing Your Home By Owner In Pinellas County Florida

Find Out How Much Money You Can Save Selling Your Home 'By Owner' in Pinellas CountyThis is a question many homeowners have been asking themselves in our HOT real estate market...and a

Read More