dave-maggie
Dave and Maggie Smith
CRB, SFR, CLHMS, Realtor
Chairman’s Club Broker
Associates, RE/MAX MetroTop 1% of Realtors – Pinellas  County 2012 & 2013
(727) 573-2727
DaveandMaggie.com

Nationwide existing-home sales increased in October after six straight months of decreases according to the National Association of REALTORS®. Closed Sales for Single Family were up 8.8%, with 1,121 in October 2018 versus 1,030 in October 2017. Dollar Volume for Single Family Homes saw a 17.7.0% increase from $306.3 million in October 2017 to $360.6 million in 2018. Dollar Volume for Townhome/Condo increased 30.1% year-over-year, with $134.5 million in October 2017 compared to $175.1 million in October 2018. The Median Sale Price for Single Family Homes was up by 13.3% from last year, at $259,900 for October 2018 versus $229,450 for October 2017. The Median Sale Price for Townhomes/Condos was $162,750 for October 2018, up 8.6% from $149,900 in October 2017.

October Real Estate Market

The Average Sale Price for Single Family Homes rose 8.2% from $297,387 in October 2017 to $321,704 in October 2018. The Median Time to Contract for Single Family Homes was 30 days in October 2018, down 3.2% from 31 days last October. The Median Time to Sale for Single Family Homes was 68 days this October, down 10.5% from 76 days last October. The Months Supply of Inventory for Single Family Homes increased 11.5% year-over-year, with a 2.9 Month Supply this October, as compared to a 2.6 Month Supply in October 2017. New Listings for Single Family for October 2018 were 1,433, up 9.2% from October 2017 at 1,312. The Active Listings for Single Family Homes rose 9.9% from 2,985 in October 2017 to 3,280 in October 2018. Paid in Cash sales for Single Family increased 10.3%, from 301 in October 2017 to 332 in October 2018.

The Average Sale Price for Townhome/Condo was $248,653 in October 2018, up 20.0% from $207,280 in October 2017. The Median Time to Contract for Townhome/Condo market was 29 days in October 2018, down 14.7% from 34 days October 2017. The Median Time to Sale for Townhome/Condo market was 68 days in October 2018 and 75 days in October 2017, down 9.3%. The Months Supply of Inventory for Townhome/Condo rose 7.1% at 3.0 months in October 2018 from 2.8 months in October 2017. New Listings for Townhome/Condos for October 2018 were at 942, up 9.4% from 861 in October 2017. Active Listings for Townhomes/Condos were up 5.6% from 2,111 in October 2017 to 2,230 in October 2018. Closed Sales for the Townhome/Condo segment increased 8.5% year-over-year, at 649 in October 2017 versus 704 in October 2018. Paid in Cash sales for Townhome/Condo increased 3.9%, from 361 in October 2017 to 375 in October 2018.

Information provided by Pinellas Realtor Organization.