Welcome to summer!  Mr. Sun is shining bright and heating up the beaches, however, the housing market appears to be cooling off a bit in some areas.  In this month's report I wanted to focus on inventory and the price reductions across the board both inland and on the beaches.  I have put together some links below of specific areas and property types that points to a momentum shift away from sellers to buyers.  Buyers may finally start seeing more inventory and buying opportunities.  Sellers who were waiting for the top of the market might want to consider coming off the fence and listing that home now.

Clearwater Beach, Belleair, Indian Rocks Beach CONDOS active listings - 63 listings, 19 price reductions

Clearwater Beach, Belleair, Indian Rocks Beach SINGLE FAMILY active listings - 35 listings, 11 price reductions

St. Pete, Madeira Beach, Treasure Island CONDOS active listings - 108 listings, 39 price reductions

St. Pete, Madeira, Treasure Island SINGLE FAMILY homes active listings -  52 listings, 24 price reductions

Daily, Weekly Rental CONDOS on the beach short term approved - 72 listings, 21 price reductions

Condos UNDER $500,000 on the beaches - 77 listings, 29 price reductions

Single Family Homes UNDER $500,000 Pinellas County

Fixer Uppers all property types

Price Trends – Median Sale Price May 2022

Clearwater Beach, Sand Key, Island Estates
Condo $757,000 up 36.8% YoY, Change from April $665,000
Single Family $1,142,500, up 38.6% YoY, from April $1,487,000

St. Pete, Treasure Island, Madeira Beach
Condo $530,000 up 32.9% YoY, Change from April $536,000
Single Family $1,500,000 up 33.4% YoY, from April $1,212,000

Indian Rocks, Indian Shores
Condo $640,000 up 4.2% YoY, Change from April $774,000
Single Family $1,600,000 up 18.4% YoY, from April $1,975,000

Dunedin, Palm Harbor
Condo $270,000 up 5.9% YoY, Change from April $231,000
Single Family $500,000 up 33.3% YoY, from April $460,000

Largo, Seminole
Condo $243,500 up 28.5% YoY, Change from April $216,000
Single Family $400,500 up 32.0% YoY, from April $460,000

Pinellas County all property types
Total Sold Volume down 5.7% from the previous month (MoM)
Closed Sales down 6.7% MoM
Median Sold Price $370,000 up .4% MoM, up 25.4% from previous year (YoY)
On average homes are selling in just 14 days
The average price per square foot is $323, up 3.5% MoM

 

Having fun at the Carlouel Beach & Yacht Club a beautiful place to have a party!

THANK YOU so much for reading my reports each month.  I value your time greatly and truly appreciate you.  If there is a community, home, condo, or anything else that you would like us to research and provide analysis for you I would love to hear from you.  Planning a trip to the beach this year?  Drop me a text so I can welcome you and maybe meet up at the Sand Pearl or the Yacht club for a lunch.