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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