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
Active Listings 19
One year ago 6
5-year high 45 November 2017
New Pending Sales 3
One year ago 5
Madeira Beach, Redington Beach 33708
Condo and Townhomes:
Median sale price $357,500 down 56% from one year ago
Previous month $420,000
One year ago $635,000
5-year high $703,500 December 2021
Average days on the market 16
One year ago 4
Average sale price to original list price 93.3% down 8% YOY
One year ago 101.4%
Closed sales 38
One year ago 38
5-year high 68 Dec 2017
Active Listings 91
One year ago 22
5-year high 173 January 2018
New Pending Sales 44
One year ago 40
Single Family Homes:
Median sale price $620,576 up 13% YOY
Previous month $585,000
One year ago $540,000
5-year high $888,000 December 2022
Average days on the market 43
One year ago 4
Average sale price to original list price 93.3% down 6% YOY
One year ago 98%
Closed sales 24
One year ago 20
5-year high 37 August 2020
Active Listings 55
One year ago 18
5-year high 101 April 2017
New Pending Sales 22
One year ago 50
St. Pete Beach, Treasure Island 33706
Condo and Townhomes:
Median sale price $450,000 down 16% YOY
Previous month $467,000
One year ago $536,612
5-year high $570,000 January 2021
Average days on the market 46
One year ago 5
Average sale price to original list price 92.8%
One year ago 98.6%
Closed sales 29
One year ago 39
5-year high 76 April 2020
Active Listings 117
One year ago 26
5-year high 186 February 2018
New Pending Sales 44
One year ago 52
Single Family Homes:
Median sale price $1,057,500 down 13% YOY
Previous month $1,355,000
One year ago $1,212,000
5-year high $1,680,000 December 2022
Average days on the market 40
One year ago 7
Average sale price to original list price 90% down 7% YOY
One year ago 97.6%
Closed sales 26
One year ago 22
5-year high 45 December 2020
Active Listings 79
One year ago 24
5-year high 129 March 2019
New Pending Sales 24
One year ago 25
Gulfport, Pasadena 33707
Condo and Townhomes:
Median sale price $392,500 up 14% YOY
Previous month no change
One year ago $339,900
5-year high $450,000 November 2021
Average days on the market 18
One year ago 5
Average sale price to original list price 94.3% down 5.7% YOY
One year ago 100%
Closed sales 36
One year ago 29
5-year high 47 May 2021
Active Listings 70
One year ago 33
5-year high 102 January 2018
New Pending Sales 30
One year ago 40
Single Family Homes:
Median sale price $420,000 down 12% YOY
Previous month $408,100
One year ago $475,000
5-year high $545,000 December 2020
Average days on the market 12
One year ago 4
Average sale price to original list price 94% down 8% YOY
One year ago 102%
Closed sales 45
One year ago 46
5-year high 57 May 2020
Active Listings 66
One year ago 23
5-year high 119 April 2018
New Pending Sales 55
One year ago 47
Snapshot for Pinellas County as a whole
If you liked this month’s market report, please send me an email or text with your feedback. I would love to hear from you. If there is an area I can cover for you just let us know and we can prepare a report for you. Whatever your Real Estate needs are my team and I can help.
Have a great MAY 2023 and maybe I will see you at the beach!
