Real Estate News & Market Trends compliments of Beachwise Real Estate.  Expert analysis on the State of the Pinellas County Housing Market is Here.    

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!  Beachwise Real Estate is ranked in the top 3% out of 17,000 Realtors with over $250 Million Sold!

For a customized report on a specific city, beach community, condo project etc... email stephen@beachwiserealestate.com and a report will be sent to you within 24-48 hours.

May 26, 2024

Housing Market Update 1st Quarter 2024 Price Declines & Election Uncertainty

 

The Big Stories in this report  

-Price reductions taking place at record pace

-Current price trends across the board

-A look back at the last two elections and the impact on housing

-Key analysis for Clearwater, Indian Rocks and MORE

Here is what $49,000,000 will get you in Clearwater 802 Druid Road S, Clearwater, 33756 (homesforsaleinclearwaterbeach.com)

Snapshot
The median sale price for single family homes in Pinellas County rose 7.8%

9 cities had double digit price gains year over year

Active listings are up 100.2% county wide

Closed sales are up 7.6% county wide

Homes are selling on average in 50 days at 93.5% of list price

Clearwater Beach condo prices are down 26% year over year

Price Reductions
Weakening homebuyer demand is pushing sellers to drop prices fast in some beach communities.  All time price highs were reached over the last 12-14 months in almost every city in the county.  Inventory started to grow and grow as sellers tried to take advantage of appreciation rates.  Price reduction rates are usually in the 30% range.  The trend is up to over 50% in most cities.    

*In the last 7 days there have been 899 price reductions across the county and only 30 increases.
*In Clearwater and Clearwater Beach there are 433 active listings in the 300k-700k range, 57% (247) have price reductions. 
*In Clearwater, Belleair there are 60 listings, 50% (30) of them are reducing prices Clearwater Belleair homes for sale
*In St. Pete Beach, Madeira and Redington Beach there are 133 homes listed, 60% (80) are reducing prices St. Pete, Madeira, Redington Beaches homes for sale
*Palm Harbor has 207 listings, 56% (117) of them are reducing prices Palm Harbor homes for sale
*In Largo, Seminole and Belleair Bluffs 206 homes for sale, 55% (115) are reducing prices Largo, Seminole, Belleair Bluffs
*Indian Rocks Beach has 36 homes for sale, 50% (18) are reducing prices Indian Rocks Beach homes for sale
*In Dunedin there are 93 homes for sale, 56% (53) of them are reducing prices 
Dunedin homes for sale
*Gulfport homes for sale 80 listings, 42 price reductions Gulfport homes for sale

 

Price Trends 

Hot Spots
Indian Rocks Beach condos  UP 16.3% 
Largo Single Family  
UP 5.4% YOY 
Dunedin Single Family  UP 17.9% 
Madeira Beach Condos  UP 42% Single Family UP 4.2% 
St. Pete Beach Single Family  
UP 60% 
St. Pete Beach Condos  
UP 69.3% 
Safety Harbor Single Family  
UP 20%  Condos UP 39%
Tarpon Springs Single Family  
UP 34.6 Condos UP 19.6%
Oldsmar Single Family  
UP 32.5% 

Cooling
Clearwater Beach condos  Down 26.6% 
Clearwater Beach Single Family  
Down 12.5% 
Gulfport Single Family  
Down .5% YOY
Indian Rocks Beach Single Family  
DOWN 63.3%
Palm Harbor Single Family DOWN 5.4% Condos DOWN 4.5%

How will the market react to the upcoming election - a look back

Many are calling this election the most important of our nation's history.  Keeping politics aside we wanted to see what the trend has been after each of the last two elections.  Interestingly the last two elections have had a very similiar path even though the polarity of each result.  In 2016 and 2020 the total number of closed sales decreased from October through January and then peaked in March the following year.  This market reaction seems to be just like non-election years.  This year could be different however as the talk of recession and high interest rates are on board for the ride.  The graph below is the closed sales by month for the last 10 years a good indicator of overall market reactions.

  

Update – Clearwater Beach, Sand Key, Island Estates

This market favors buyers.  Condo prices are down substantially Year over Year.  In April of 2023 the average price was $819,000.  Since that time prices have declined 28% to $595,000. Inventories are way up even as the top of the market was several months ago.  What is contributing to the increase in inventory?  Since many of them are second home and investor owners are uncertain about a recession and election uncertainty.  Owners are also paying much higher HOA fees due to insurance costs and structural inspections that were mandated by the state of FL this year.  

Sellers are reducing prices by tens and hundreds of thousands of dollars.  Days to contract are rising. The top 6 most expensive condos on the beach, the most being $5,400,000, have been listed for over 100 days some over 200.  

How many price reductions are there?  There are currently 256 condos listed for sale in the 33767-zip code compared to 147 a year ago, 146 are reducing prices.   

Links - condo listings clearwater beach
Single family homes 53 listings total, 29 have price reductions Single family home listings Clearwater Beach

Q1 analysis

 

Update – Clearwater downtown 33755

The 33755 zone of Clearwater is located just over the causeway bridge.  The city of Clearwater is trying to redevelop this area and attract new businesses.  Investors are buying up a lot of the older homes on the market as fix and flips and doing quite well.  This is an area of opportunity, and we will be keeping our eyes on in the future as the city of Clearwater develops.

Update – Indian Rocks Beach 33785

The median sale price for condos in April was $860,500 up 16.3% year over year.  The 5-year average for condo prices is $656,900.  The average days on market was 52 days, 29% above the 5-year average of 40 days.  Indian Rocks has the most short-term rental condos in Pinellas County.  Inventory is up, closings are slightly down. 
Single family home prices are down year over year 4.8% to $887,500 through April.  Prices are on the decline from last year down 63%.  The 5-year average is $1,186,600.  How far will prices continue to drop before they find a bottom?  Surprisingly active listings are up even as prices fall.  Are sellers rushing to list to try and get out before prices drop even more or will the market rebound as buyers see opportunity.   

Q1 analysis

More...

 

 

Experience Clearwater!


This guy is amazing. Support the local guys on the pier.

Finished product.  My son was very happy.

Took a boat ride out to a small island.  Highly recommend it.

New street performers at the pier.

 

We hope you found this months housing update helpful.  If you would like market report customized for a specific community you are interested in please let us know.

 

Remember Beachwise Real Estate when you are ready to start the buying or selling process.  We would love to be a part of your journey.

 

 

 

 

May 7, 2024

The State of The Housing Market Clearwater Beach April 2024

Here is what you need to know about the housing market in Clearwater Beach, Island Estates and Sand Key Beach through March 2024.

The market is in the buyers favor at this time.  The summer months are historically slow we do not expect any changes to current trends.  The big question is the 2024 election and the emergence of the BRICS currency challenging the dollars reserve currency status.  Historically elections have not had much of an impact on the real estate market on the beach.  The demand for homes will always be high along the beaches so we expect the real estate market to do just fine even with the uncertainties around the corner.  

Median sale prices have seemed to stabilize around the 5-year average after reaching all-time highs in 2023.  
Condominium $635,000, down 15.9% YOY, (5-year average $618,020), all time high $965,000 June 2023
Single Family Homes $1,425,000, down 20.8% YOY, (5-year average $1,397,000), all time high $3,200,000 November 2022

Spotlight:  Fewer closings than a year ago, homes on the market longer and supply is approaching all-time highs.
Closings 42, down 28.8% YOY
Average days on the market 93, 
up 111.4%
Active listings 302, 5-year average 159
Months of supply 
7.6, 5-year average 3.7

Summary Clearwater Beach Condo Market
The all-time price high was reached in June of 2023 at $965,000.  Since then prices have come back down to just near 5-year average of $618,020 signaling a return to normal is in play.  In March the median sale price of $635,000 increased 6.7% compared to last month and a decrease of 15.9% from March 2023.  Homes are staying on the market 88 days up 7% from last month.  There were 62 new listings this month, up 1.6% from last month and just above the 5-year average of 57.

Summary Single Family Homes Clearwater Beach
Prices reached all-time highs in November 2022 of $3,200,000 and since then have corrected to nearly 5-year averages of $1,397,000.  In March the median sale price was $1,425,000, representing a decrease of 16.7% compared to last month and a decrease of 20.8% from March 2023.  The average number of days on the market for homes sold in March was 111 days, 15% above the 5-year March average of 96.  The average sold price to original listing price is down to 84.1% well below the 5-year average of 90.9%.

What it's like living in Clearwater Beach!
Beautiful Weather, Sugar Sand Beaches, Plenty of Fun Activities All Year Round, Amazing Restaurants and Gorgeous Sunsets!  

This sunset picture was taken at the Opal Sands outside restaurant.  A great place to go anytime.  The live music was excellent and the food amazing.  The views are not too shabby either.

A pic of the 18th hole on the historic Belleair County Club.  What a view overlooking the intracoastal and Sand Key Condos across the water.  It costs about $140 to play a round with a member.  Membership will run you about $70k per year.

If you found this report helpful and would to be added to our email list, please contact stephen@beachwiserealestate.com.  In the coming weeks and months we will be analyzing different communities both along the beaches and inland in hopes of keeping you informed so you can make the right choice if you are considering buying or selling.  It is our pleasure to serve you and the community here.  We love real estate in the Clearwater area and look forward to serving you in 2024!

 

 

March 10, 2024

Housing Market Report January 2024


Housing Market Special Report 2024

Key Stats and Analysis for The Beaches of Pinellas County and More!

CLEARWATER BEACH, SAND KEY, ISLAND ESTATES
Median Sale Price Single Family = $1,500,000
10-year high prices reached $4,455,000 in January of 2023.
Graph 3-year median price history single family homes


Median Sale Price Condo/Townhome = $715,000
Up 17.2% year over year.  The 5-year high $965,000, 06/2022.
Graph 3-year median price history condo/townhome

How Long Homes are Staying on Market Average= 70
Up 6.1% year over year.  (condo 78)

Months of Supply = 6.5 months
Up 65% year over year.  The 5-year average is 3.8.

Active Listings = 268
Up 78% year over year.  The 5-year average is 165.

Closed Sales = 28 (25 condo, 3 single family)
Condo 25, single family 3.  The 5-year average is 36.

 

 

CITY of CLEARWATER 
Median Sale Price Single Family = $419,000
Up 13.2% year over year.  The 5-year high $462,250 Nov 2023.
Graph 3-year median price history single family homes


Median Sale Price Condo/Townhome = $197,450
Down 12.1% year over year.  5-year high July 2022 $240,000.
Graph 3-year median history condo


How Long Homes are Staying on Market = 50
Up 6% year over year.

Months of Supply = 3.3 months
Up 67% year over year.  The 5-year average is 3.2.

Active Listings = 793
Up 49.9% year over year.  The 5-year average is 505.

Closed Sales = 144
The 5-year average is 226.

 

 

ST. PETE BEACH
Median Sale Price Single Family = $1,124,175
Down 21.5% year over year.  The 5-year high $1,680,000 11/2021.
Graph 3-year median price history single family homes

Median Sale Price Condo = $389,000
Down 22% YoY.  5-year high $719,950 Nov. 2023.


How Long Homes are Staying on Market = 64
Up 30.6% year over year.

Months of Supply = 6.5 months
Up 129 % year over year.  The 5-year average is 3.0.

Active Listings = 314
Up 100% year over year.  The 5-year average is 169.

Closed Sales = 33 (21 condo, 12 single family)
29 closings in Jan 2023.  The 5-year average is 44.

 

 

GULFPORT
Median Sale Price Single Family = $433,660
Up 2% year over year.  The 5-year high $575,000 11/2022.
Graph 3-year median price history single family homes



Median Sale Price Condo/Townhome = $410,000
Up 47% year over year.  The 5-year high $450,000, 11/2021.
Graph 3-year median price history condo/townhome

How Long Homes are Staying on Market = 70
Up 34% year over year.

Months of Supply = 4.4 months
Up 103% year over year.  The 5-year average is 2.1.

Active Listings = 245
Up 92.9% year over year.  The 5-year average is 132.

 

Closed Sales = 34
47 closings in December 2023.  The 5-year average is 54.

 

 

MADEIRA BEACH

Median Sale Price Single Family = $837,500
Up 30.1% year over year.  The 5-year high $888,000 Dec 2021.
Graph 3-year median price history single family homes


Median Sale Price Condo/Townhome = $692,500
Up 31.4% year over year.  The 5-year high $703,000, Dec 2021.
Graph 3-year median history condo


How Long Homes are Staying on Market = 53
Down 13.1% year over year.

Months of Supply = 6.9 months
Up 126% year over year.  The 5-year average is 3.2.

Active Listings = 303
Up 91.8% year over year.  The 5-year average is 161.

Closed Sales = 39
The 5-year average is 37.


 

INDIAN ROCKS BEACH
Median Sale Price Single Family = $1,275,000
Up 6% month over month.  The 5-year high $2,350,000 April 2023.
Graph 3-year median price history single family homes

Median Sale Price Condo/Townhome = $970,750 *10 year high
Up 33.4% year over year. 
Graph 3-year median history condo

How Long Homes are Staying on Market = 72
Up 80% year over year.

Months of Supply = 5.9 months
Up 145% year over year.  The 5-year average is 2.8.

Active Listings = 130
Up 96.2% year over year.  The 5-year average is 74.

 

Closed Sales = 22 (condo 14, 8 single family)
The 5-year average is 23.

 

 

DUNEDIN
Median Sale Price Single Family = $480,000
Up 6.1% month over month.  The 5-year high $537,500 May 2022.

Median Sale Price Condo/Townhome = $216,197
Up 33.4% year over year.  5-year high $435,000.
Graph 3-year median history condo

How Long Homes are Staying on Market = 90
Up 104% year over year.

Months of Supply = 3.7 months
Up 111% year over year.  The 5-year average is 1.8.

Active Listings = 232
Up 95.8% year over year.  The 5-year average is 129.

Closed Sales = 35 (condo 15, 19 single family)
The 5-year average is 56.

 

 

 

SAFETY HARBOR
Median Sale Price Single Family = $505,000
Up 1.5% year over year.  The 5-year high $651,000 05/2021.

How Long Homes are Staying on Market = 61
Up 125% year over year.

Months of Supply = 3 months
Up 104% year over year.  The 5-year average is 1.5.

Active Listings = 59
Up 63.9% year over year.  The 5-year average is 38.

Closed Sales = 15
23 closings in Jan 2023.  The 5-year average is 20.

 

 

 

LARGO
Median sale price single family $405,000
Up 15% year over year

Median sale price condo $272,000
Up 8.5% year over year

Closed sales 81 (47 single family, 24 condo)
5-year average 116

Months of supply 3.3
5-year average 1.5

 

 

 

SEMINOLE
Median sale price single family $495,000
Up 15.1% year over year

Median sale price condo $233,000
Up 21.1% year over year

Closed sales 59 (41 single family, 15 condo)
5-year average 65

Months of supply 2.8
5-year average 1.4



PINELLAS COUNTY

Median Sale Price Single Family = $450,000
Up 15% year over year.  The 5-year high $470,000, 11/2022.

Median Sale Price Condo/Townhome = $290,000
Up 3.9% year over year.  The 5-year high $360,000, 09/2022.

How Long Homes are Staying on Market Average = 51
Up 15% year over year.  (condo 65, single family 42)

Months of Supply = 3.5 months
Up 75% year over year.  The 5-year average is 1.9.

Active Listings = 5,262
Up 62% year over year.  The 5-year average is 3,236.

Closed Sales = 994
Down 2% year over year.  The 5-year average is 1,343.  

3-year median sale price history single family purple, condo red

Follow the rollerblading realtor at Kristin Vincelli ~ Real Estate Broker (@rollerbladingrealtor) • Instagram photos and videos

 

Posted in Market Conditions
Oct. 17, 2023

How to Save Big on Required Flood Insurance

Beachwise Real Estate Pro Tip for Buyers and Sellers

How to save hundreds, if not thousands, of dollars on your required flood insurance - Policy Assumption

Reference https://www.nationalfloodinsurance.org/policy-assumption/

The Beachwise Real Estate Team is always looking for ways to help our buyers and sellers save time and money in a real estate transaction.  Having to obtain flood insurance is one of those costs that buyers could end up paying way more than they must.  Through the process of POLICY ASSUMPTION buying a home in a flood zone may not have to be as costly as you think.  Policy Assumption is allowed by the National Flood Insurance Program (NFIP).  It occurs when the seller’s existing policy is transferred to the new buyer at closing.  Instead of going through a new underwriting process with NFIP the buyer adopts the seller’s policy that is already in place. 

Benefits of Policy Assumption – Reduces Costs and Saves Time!

Here’s how:
The buyer does not have to go through the hassle of meeting underwriting guidelines.

The buyer avoids the cost of an elevation certificate.

By assuming the existing policy, the buyer locks in the low rate already in place. 

Premiums for policies are paid annually, so by assuming the existing policy buyers don’t have to worry about paying the premium until the renewal date thereby reducing costs at closing.

Is There a Catch?

The only downfall may fall on the seller.  By doing a policy transfer the seller is not given a refund from the carrier because technically it will remain in effect.  So, if the seller paid the premium 6 months prior to the closing date normally a refund for the remaining 6 months would be due.  The good news is that this can be worked out separately amongst both parties, especially if the buyer is receiving a benefit by assuming the policy.  The buyer could give the seller a credit at closing for any premiums that the seller would normally have been refunded.

How To Do a Policy Assumption

The process is simple but takes some time.  Both parties will need to fill out some forms and allow time for the insurance carrier to review and clear.  We recommend starting at least 3-4 weeks prior to the closing date from previous experiences. 

For more information about this and other Pro Tips from Beachwise Real Estate please visit us at www.homesforsaleinclearwaterbeach.com or our blog page https://www.homesforsaleinclearwaterbeach.com/blog/

You can also contact Kristin Vincelli the Rollerblading Realtor at 727-686-1596, kristin@beachwiserealestate.com,  and Stephen Vincelli at 727-430-1995, stephen@beachwiserealestate.com

See you at the beach!

At the OPAL SANDS hotel enjoying lunch and the beautiful view!

Sept. 8, 2023

The Beachwise Real Estate Housing Market Update Clearwater Beach – St. Pete Beach and Pinellas County August 2023

Clearwater Beach is Awesome! 

We all are feeling grateful once again after Idalia moved up the coast.  The last direct hit in the Tampa Bay area was over 100 years ago, knock on wood.  Thanks, and praise to city employees and the police for keeping us safe and getting to work cleaning up the beaches immediately after the storm. As soon as they opened the bridges, I was on the sand to assess.  It was surreal as always to see the beaches evacuated and feel the energy the storm leaves behind.  

In this HOUSING MARKET report, we wanted to see how the Clearwater Beach and St. Pete Beach markets are holding up.  We also looked at Pinellas County just to look at what is happening inland as well as the beaches.  We expect prices to stay in a range as we get ready for the season.  Activity should pick up at in the coming months and we will see if the market will continue in the buyers favor or if demand will pick up enough to put the sellers in charge.  High interest rates have forced a lot of buyers out of the market here, however more than half of all closings on the beaches are cash.  Looking around the local communities we see a lot of expansion commercially, which is a good sign that the local economy is still thriving.  Hopefully Pinellas County will continue to thrive and keep those storms off the coast in 2023!

What you need to know!

Clearwater Beach, Sand Key, Island Estates
Median sold price CONDO $750,000 +16% YoY
5-Year Average $569,000
Median sold price SINGLE FAMILY $1,093,000 -30% YoY
5-Year Average $1,125,000
Average Days on Market CONDO 61
Average Days on Market SINGLE FAMILY 43
Total Sold Dollar Volume $36,866,814 +6.9% YoY
Summary: Prices are in a range for both single family homes and condos.  The market is holding steady even with high interest rates and economic uncertainty.  As homes stay on the market longer prices remain in range.  This indicates sellers are not in a hurry to lower prices and the buyers appear to be willing to hold it out and see if they eventually will.  New listings are down 7.3% but new pending, closed sales and active listings are all up YoY. 

Condos under $1Million 52 price decreases, lowest price $219,000 
Condos under 1million 33767 Beachwise Real Estate search
Single Family 34 listings, 13 price drops, lowest sale price home $750,000
Active listings Clearwater Beach Island Estates Sand Key

 

St. Pete Beach, Treasure Island, Madeira Beach
Median sold price CONDO $412,500 +11% YoY
5-Year Average $431,500
Median sold price SINGLE FAMILY $756,000 +9% YoY
5-Year Average $856,780
Average Days on Market CONDO 75
Average Days on Market SINGLE FAMILY 37
Total Sold Dollar Volume $40,116,578 -12.4% YoY, -37.6% MoM
Summary: Prices for homes in this market are right at 5-year averages indicating stability.  The amount of time homes are staying on the market is still relatively low compared to 5-year averages.  Compared to one year ago: new pending sales are up 8.9%, closed sales up 8.7%, active listings rose to 190 well over the 5-year average of 151.  Sellers are getting 92.6% of the original asking price.

Condos 142 listings, 61 price declines, lowest price $189,000
St. Pete Beach CONDOS active listings

Stats for all of Pinellas County
Watch short video here- (56) July 2023 Market Statistics Report for Pinellas and Pasco Counties - YouTube
There has been an increase in inventory in Pinellas over this time last year, while it’s fallen in Pasco.  Closed sales are slightly up in both counties from this time last year.  

 

Other Areas of Interest Pinellas County
Beachwise Real Estate serves several markets in Pinellas County.  Reports Available ON DEMAND for each.  Below are links to each of these areas’ current active listings.

City of Clearwater, Belleair active listings under 1million

Dunedin active listings under 1million

Indian Rocks Beach active listings under 1million

Madeira Beach Redington Beach active listings under 1million

St. Pete Beach Tierra Verde Pasadena and Gulfport active $100k and up

Largo active listings under 1million

Oldsmar active listings $100k and up

Safety Harbor active listings $100k and up

Email your request to Stephen@beachwiserealestate.com and we will email you a market report within 48 hours.  If you have any specific wants or needs, we have the resources you need.

 

Keep up to date on the local housing market here in Pinellas County on the beaches and more.  Visit homesforsaleinclearwaterbeach.com to search for homes and get market reports sent to your email monthly.  Or contact us personally and we can help get you started.

Follow the RollerBlading Realtor on Instagram at Kristin Vincelli Clearwater Beach Realtor (@rollerbladingrealtor) • Instagram photos and videos

Kristin Vincelli 727-686-1596
Stephen Vincelli 727-430-1995
Tom Smith 727-776-3375

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July 25, 2023

Real Estate Market Report July 2023 In Depth Analysis of The Beach Market and More!

In this report we look at housing markets along the beaches such as Clearwater Beach, Madeira Beach, St. Pete Beach.  We also looked at some of the up-and-coming communities inland that are just minutes from the beach that are on the rise like Dunedin, Safety Harbor and Palm Harbor.  Higher interest rates are creating demand in the older homes that need updating.  Buyers who were priced out of the 650k and up market are now looking at 300-600k price ranges.

What you need to know?
Median sale prices and supply hovered near 10-year highs, while price reductions are occurring on a majority of the active listings.  Sellers with updated homes got on average 96% of list price.  Price reductions are occurring on over half the active listings especially if they are not selling within the first thirty days.  
In the luxury markets on the beaches the average days on the market are rising however, homes in the price range of $450,000 to $750,000 that have been updated are still selling in 2-3 weeks on average. 

In Clearwater Beach the average days on the market for single family homes is up to 143 days, up 55% from its 5 year average.  The median sale price for single family homes in Clearwater Beach is 1,440,000.  Condos in Clearwater hit 10 year highs this month at $965,000, up 29% from one year ago.  This could be due to recent closings at the JW Marriott on the beach which were all over $1,200,000.  Condos are averaging 60 days on the market in 33767.    

In the Madeira Beach market single family homes are averaging 22 days on the market with a median sale price of $711,000.  The median price for condos dropped to $345,000 down 35% from one year ago.

Saint Petersburg Beach are at 10 year highs in prices for condos and single family homes.  Condo median sale price is $718,000 up 42% from one year ago.  Single family median home prices this month topped at $1,212,000 up 22% from June 2022.  Homes are averaging 45 days on the market combined.

Just over the bridge cities like Belleair, Clearwater, Safety Harbor, Palm Harbor and Dunedin remain highly desirable most likely due to affordability and location.  Local communities are rebuilding and updating parts of the city and buyers are finding they can purchase an older home and update it for a lot less now that material and labor prices have become more affordable.

Homes in the market of Belleair and the city of Clearwater are going under contract on average in 14 days.  The median sale price is an affordable $435,000.

Safety Harbor, a very nice area situated on the Bay of Tampa, has a median home price of $480,000, condos $309,000.  Homes stay on the market an average of just 22 days.  A friend of ours does Bioluminescence Eco Tours out of the harbor that we highly recommend trying.  Here is the link Contact | tocobagatour (tocobagatours.com) 

In Palm Harbor the median price of a single family home is $577,000, down 4.9% from last year.  Homes are averaging just 17 days on the market.  Palm harbor is in a great location and is known for its excellent choice of schools.

Dunedin remains one of the most desirable markets.  Home prices reached 10 year highs again this month at $535,000.  Homes are averaging just 24 days on the market.

The addition of Imagine Clearwater and the redevelopment of the downtown Cleveland Street area all the way North to Dunedin could be the spark that the city of Clearwater was looking for.  New construction condos are still affordable like this one walking distance from the park and Marina New Construction Condo Waterfront and would make a great AIRBNB or second home  

All Property Types Clearwater Beach, Island Estates, Sand Key Beach:



Attached Homes Condo and Townhome:

 

St. Pete Beach All Property Types

Attached Homes Condo Townhome

 

Dunedin All Property Types

 

Dunedin Single Family Homes

 

Madeira Beach All Property Types

Madeira Beach Condos

 

Safety Harbor All Property Types

Safety Harbor Single Family

 

For a customized report on a specific property, city or condo community email stephen@beachwiserealestate.com.

Follow The Rollerblading Realtor on Instagram Kristin Vincelli Clearwater Beach Realtor (@rollerbladingrealtor) • Instagram photos and videos

Featured Listings Featured Properties (homesforsaleinclearwaterbeach.com)

Shaggy Approved Pet Friendly Condos Pet Friendly Condos (homesforsaleinclearwaterbeach.com) 

Investment Condos Short Term Rental Condos on The Beach $250,000 and Up

Single Family Home Search Clearwater Beach to Indian Rocks Beach Homesforsaleinclearwaterbeach.com Search Results

 

 

 

 

 

 

 






 








 






 

 

 

 

Posted in Market Updates
June 13, 2023

Housing Market Report and Analysis June 2023 Clearwater Beach to St. Pete Beach and More

The Beachwise Real Estate Housing Market Analysis.  What you need to know about the housing market for the summer of 2023 and more for the Clearwater and St. Pete Beach markets!

So far 2023 has been a little challenging.  Stubborn inflation, mortgage rates and possible recession have kept most sellers and buyers wondering…

Will rates go down?

Will home prices and sales decline?

Will the increasing demand for beach real estate keep pushing prices higher?

For answers to these questions and more we would like to share with you our predictions for the summer of 2023.  Here is what you need to know.

Mortgage Rates
We expect mortgage rates to be stay in a range of 6.25% to 7% heading into the fall.  If mortgage rates stabilize, we could see more buyers coming back into the market.  

What will happen with home sale volume?
Historically summer months are the slow season for real estate in this market.  Markets inland are more active.  Home sale volume most likely peaked in 2022 during the buying frenzy brought on by the pandemic.  The volume has dropped a bit since, but the market is still healthy here.  

Will home prices drop?
We expect home prices in our market here to experience modest growth the remainder of the year.  One reason is that a large percentage of buyers in this market are not as interest rate sensitive as other markets.  In some areas increases in mortgage rates can price buyers out of the market which limits demand.  Supply and demand are another reason we expect modest gains.  Supply levels are back up to 5-year averages in most cities.  Demand for real estate will remain high in most areas of the County especially near the water. 

Will the housing market crash?
We do not believe a crash is likely for these reasons; tighter lending standards than 2008 means less foreclosures and defaults, most owners have low fixed rates so if rates go up, they still have fixed payments unlike the ARM loans of 2008, owners have record levels of equity which keeps owners above the water if prices do come down a bit.

Bottom line
Keep in mind our analysis is a crystal ball.  Our predictions assume the federal government does not default on its debt and can manage inflation without continuing to increase the cost of borrowing.  If this occurs rates will spike and put pressure on prices downward.  The bottom line is that you should do what is best for you and your financial situation.  Real estate on and near the beaches of Pinellas County have advantages that most of the country does not.  When other parts of the country are pulling back the Tampa-Clearwater-St. Pete area has plenty of room to grow.

 

KEY STATS and HOUSING DATA 
St. Pete and Dunedin reaching 10 year highs!

Summary for the Clearwater Beach, Dunedin, and St. Pete Beach housing markets.  Single family homes in the 33767-zip code are close to two-year lows.  Prices have come down 46% from one year ago as inventories for single family homes are back to 5-year average levels.

Condos in Clearwater Beach stay on the market longer but well below pre Covid levels.  Condo prices were up 1% from one year ago.

The Dunedin and St. Pete Beach housing markets are at 10-year highs in pricing for single family homes and condos.  Condos in St. Pete are staying on the market considerably longer while still managing to gain in price.

The city of Clearwater 33756 and 33755 areas have growth potential as new development and demand start to rise.  The median price for a single-family home in this market is just $390,000.

For additional analysis on a particular city, community, or any other type of property just send and email to stephen@beachwiserealestate.com for a custom report. 

 

Clearwater Beach, Sand Key, Island Estates 33767
CONDOS

Current median sold price $670,000
Up .1% YOY
Down 27% from previous month
The two year low $574,000 in October 2022
The two year high $819,000 in April 2023

Condos have been staying on the market an average of 53 days
One year ago the average was 21 days
The two-year high was reached in June 2021 at 66 days
Prior to Covid the average was over 100 days 10 out of 12 months

There were 34 total condo closings in May
One year ago there were 53
The two-year low is 16 in November 2022

New condo listings in May rose to a two year high of 67
One year ago there were 54 new listings
The two-year low was 29 in October 2022

Months of supply rose to a two year high of 5.83 months up 579% from last year
In January of 2022 there were only .37 months of supply.


Clearwater Beach, Sand Key, Island Estates 33767
SINGLE FAMILY HOMES
The current median price for a single-family home in 33767 is $910,000
This is
down from $1,600,000 the previous month and down 46% a year ago
The two-year low is $874,450 September 2022

There were only 7 single family home closings in May
The two year high for closings is 11 in March 2023

There were only 5 new listings in May
The two years high for new listings in a month was 12 in June 2022

Sellers are getting 87% of the original listing price down 6.2% YOY.

Months of supply rose to 5 months
The two-year high is 5.4 months February 2023

 

DUNEDIN 34698
SINGLE FAMILY HOMES
Median sale price $537,500 a 10 year high up 3.5% YOY
The two year low $390,000 August 2021

High demand and low inventory are helping to fuel price highs in Dunedin.  There are only .98, less than one months of supply for single family homes in Dunedin
The two-year high was 1.65 months in December 2022.  The last time inventory broke over 2 months was July 2020.

The average days on the market in May for single family homes is 31
One year ago the average was 11 days which is also the two year low

Total closed sales were in line with two-year averages.  In May there were 52 closings.  One year ago, there were 54.

There were 41 new listings in May, down from 55 one year ago
The two-year average is 43
 

ST. PETE BEACH, TREASURE ISLAND 33706
Condos
Median sale price $625,000 is a new 10 year high up 21.8% from one year ago
The two year low is $390,000 September 2021
Sellers receive and average of 91.3% of the original list price down 8% YOY

The average days on market for a Condo in this market for May is 64 days
The two year low was 12 days May 2022

Months of supply hit a 5 year high in May at 4.93 months up 498% from one year ago when it was at .82 months
The 5 year low was .40 months in December 2020

There were 45 condo closings in May up 2.3% from one year ago

There were 52 new condo listings down 5.5% from one year ago

ST. PETE BEACH, TREASURE ISLAND 33706
Single Family Homes
Median sale price $1,375,000 up 71% from one year ago and just shy of the 10-year highs
The two year low is $800,000 May 2022
Sellers receive and average of 92.3% of the original list price down 7.8% YOY

The average days on market for single family homes are 38 days for May
The two-year high was 67 days in April and the low was 6 days November 2021

Months of supply increased 310% from one year ago to 5.47 months
The two-year low was .47 back in January 2022

There were 27 single family closings in May, up 17.4% from one year ago.

There were 39 new listings up 50% from one year ago

 

 

Pinellas County
How do these communities compare to price trends for all of Pinellas County combined?  Communities on and near the beach have different dynamics so we take the time to separate them for our analysis.  Below is a price trend history for all of the county, single family in purple and condo in red.  

 

For additional analysis on a particular city, community, or any other type of property just send and email to stephen@beachwiserealestate.com for a custom report.  

 

Vivian and Tom Smith, Kristin Vincelli 

 

May 15, 2023

Imagine Clearwater - Coachman Park

 

Imagine Clearwater: A Visionary Venue Set to Captivate Audiences

Clearwater, Florida, eagerly awaits the grand opening of its latest cultural gem, Imagine Clearwater. This visionary venue, slated to open its doors in just a few short months, promises to revolutionize the entertainment landscape of the region. Boasting a state-of-the-art design and a commitment to fostering artistic expression, Imagine Clearwater is poised to become a magnet for locals and tourists alike.

 

At the heart of Imagine Clearwater's allure is its innovative architectural concept. The venue's striking modern design blends seamlessly with the surrounding natural beauty of Clearwater's waterfront. With a capacity of over 5,000, the amphitheater will offer an intimate yet electrifying experience for concertgoers. The open-air setup, complete with acoustically optimized features, guarantees exceptional sound quality, ensuring that every performance resonates with the audience's soul.

 

Beyond its physical appeal, Imagine Clearwater is set to become a vibrant hub for artistic collaboration and community engagement. The venue plans to host a diverse range of events, including live music concerts, theatrical performances, art exhibits, and cultural festivals. By providing a platform for both established and emerging artists, Imagine Clearwater aims to nurture local talent and expose audiences to a rich tapestry of creative expressions.

 

Additionally, Imagine Clearwater's commitment to sustainability is commendable. The venue has incorporated eco-friendly practices throughout its design and operations, including solar energy generation, water conservation systems, and recycling initiatives. This environmentally conscious approach not only reduces the venue's carbon footprint but also serves as an inspiration to visitors, encouraging them to embrace sustainable living practices in their own lives.

 

The economic impact of Imagine Clearwater cannot be overlooked. The venue's anticipated popularity will undoubtedly attract visitors from far and wide, resulting in a significant boost to the local economy. Hotels, restaurants, and businesses in the surrounding area stand to benefit from increased tourism and patronage. Furthermore, the venue's ability to attract top-tier performers will elevate Clearwater's cultural standing, solidifying its reputation as a premier destination for entertainment and the arts.

 

As the countdown to the grand opening of Imagine Clearwater begins, excitement and anticipation fill the air. The stage is set for an immersive and unforgettable experience that will leave a lasting impression on all who pass through its gates. Clearwater's residents and visitors are ready to embark on a new chapter in the city's cultural evolution, where imagination knows no bounds, and the transformative power of art reigns supreme.

 

In the meantime, mark your calendars for the upcoming events that will celebrate Clearwater's rich cultural heritage. On June 28, Clearwater Celebrates Coachman Park, followed by Clearwater Celebrates Diversity and Culture on June 29. June 30 brings Clearwater Celebrates Music, while July 1 is dedicated to Clearwater Celebrates Community. Clearwater Celebrates Hispanic Culture takes place on July 2, and July 3 is all about Clearwater Celebrates Wellness. The grand finale, Clearwater Celebrates America, will captivate audiences on July 4. These events, held at Imagine Clearwater, promise an exciting array of entertainment, art, and community engagement. Join Clearwater in these celebrations and be part of the city's vibrant cultural tapestry.

Imagine Clearwater is poised to become an iconic symbol of creativity, unity, and inspiration for years to come.

 

- Kenneth G. Arsenault, III

Posted in Leisure
May 3, 2023

The Beachwise Real Estate Market Report Clearwater to St. Pete

What you need to know about the housing market for Pinellas County Beaches and more!

Kristin Vincelli, Rollerblading Realtor
727-686-1596
kristin@beachwiserealestate.com
Follow me on Instagram 
Kristin Vincelli Clearwater Beach Realtor (@rollerbladingrealtor) | Instagram

The beach sand is getting hot again so bring your flip flops with you to the beach if you’re planning a trip.

I am glad you are here because this market report is going to bring you up to speed on all things real estate for the beach communities of Pinellas County from Clearwater Beach all the way to Pasadena. 

Here is a summary of what you need to know…

Median sale prices are up in 5 out of 11 categories.  The condo market in Clearwater Beach and Indian Rocks Beach led the way up 12% year over year (YOY) both at 10-year highs.  Single family home prices were also up 12% in Clearwater Beach to $1,800,000.  Condo prices in Madeira Beach declined 56% but saw single family homes rise 13%.  St. Pete had declines in both the condo and single-family market, down 16% and 13%. 

Active listings are up substantially in all areas.  The amount of time homes are staying on the market is also increasing.  Homes in the $400,000 to $700,000 range are still getting multiple offers and seem to be that sweet spot for buyers.  However, buyers interested in million-dollar homes seem to be content waiting it out for reduced price.

Where is this market heading?  Active listings are up 200% while new listings, new under contracts, new pending contracts are all down by more than 15% countywide.  The market is slowing down even as prices rise in some markets.  Buyers have the leverage as the market continues to shift.  Real estate on and near the beach is still in high demand here so we do not expect prices to experience a sustained correction in price.  Keep an eye on the city of Clearwater downtown area, Largo and Gulfport.  Home prices are still in the 300k to 600k range and there are a lot of new developments taking place. 

 


Clearwater Beach, Sand Key Beach, Island Estates
33767

Condo and Townhomes:
Median sale price $754,900 up 12% YOY
Previous month $756,250
One year ago $665,000
10-year high $757,500 April 2021

Average days on the market 37
One year ago 24
5-year high 151 March 2019

Average sale price to original list price 97%
One year ago 97.7%

Closed sales 47
One year ago 62
5-year high 76 March 2020

Active Listings 133
One year ago 35
5-year high 288 February 2019

New Pending Sales 48
One year ago 68
5-year high 83 March 2020

Single Family Homes:
Median sale price $1,800,000 up 12% YOY
Previous month $1,192,500
One year ago $1,487,500
5-year high $2,200,000 June 2021

Average days on the market 80
One year ago 36
5-year high 197 March 2019

Average sale price to original list price 84% down 13%
One year ago 97.3%

Closed sales 11
One year ago 8
5-year high 16 May 2018

Active Listings 25
One year ago 4
5-year high 69 May 2018

New Pending Sales 5
One year ago 10
5-year high 15 February 2019



Indian Rocks and Indian Shores Beach 33785
Condo and Townhomes:
Median sale price $865,278 – 10 YR high
Previous month $735,000
One year ago $774,886
10-year high $865,278 Current month

Average days on the market 49
One year ago 5
5-year high 162 October 2017

Average sale price to original list price 88.6% down 12% YOY
One year ago 100.4%

Closed sales 13
One year ago 35
5-year high 42 April 2020

Active Listings 53
One year ago 4
5-year high 288 February 2019

New Pending Sales 26
One year ago 21

Single Family Homes:
Median sale price $1,297,500 down 35% YOY
Previous month $1,775,000
One year ago $1,975,000
10-year high $1,975,000 March 2021

Average days on the market 54
One year ago 51
5-year high 166 September 2018

Average sale price to original list price 87% down 16%
One year ago 103.1%

Closed sales 8
One year ago 5
5-year high 16 June 2020

Active Listings 14
One year ago 4
5-year high 43 February 2018

New Pending Sales 8
One year ago 4


Belleair Beach 33786
Condo and Single Family Combined:
Median sale price $747,000 down 14% YOY
Previous month $670,000
One year ago $869,000
5-year high $2,912,000 Jan 2022

Average days on the market 46
One year ago 61
5-year high 292 November 2018

Average sale price to original list price 90% down 8% YOY
One year ago 98.1%

Closed sales 5
One year ago 11
5-year high 16 July 2019