Welcome to the Clearwater Beach St. Pete Housing Market Report for July 2022!

*New listings are up over 120% in most areas as sellers adjust to a fast-changing market
*Buyers are still there but pushing pause button
*A third of all listings in June had price reductions
*Clearwater Beach and Island Estates at the top in price
*City of Largo, Clearwater inland and St. Pete inland average home price under $400,000

I hope you and family are doing well and having an excellent year so far.  The summer has flown by, and it has been a hot one.  I appreciate you staying connected and hope this report is helpful.  If you are following real estate, then you know that everyone is talking about a market shift.  I have noticed the cooling down but when we look at the numbers for June, we don’t see the extent of the shift just yet as many of the indicators are lagging.   The next few months data will tell us a great deal more of the extent of the slowdown.

Buyers are holding the cards now.  Sellers are having to adjust their expectations as buyers find incentive to wait it out in face of a recession and higher rates.  In June approximately 35% of active listings in Pinellas County had price reductions, 44% in Tampa.  In Pinellas County average sale price was up 21% from a year ago.  However, homes under contract were down 25.63% as were new pending contracts 24.14%.  Not surprisingly new listings are up across the board which is most likely sellers who were waiting for the top of the market. 

What comes next?  Expect this same trend to continue for a short time.  Price gains that sellers have been accustomed to on the beach are probably over for a while.  However, demand for the beach area is still high and there are a lot of buyers still looking in this area.  The good news is that even with this shift taking place I believe it’s a move back to a more normal market like it was prior to the pandemic.  With a little help from policy makers, we can get back to a normal state sooner than later. 

Housing Market Activity for Clearwater Beach, Sand Key Beach, Island Estates 33767

 
My new listing on Island Estates 67 Midway check out the video below

(272) Tour of 67 Midway Island and Clearwater Beach! - YouTube

Average sale price
Single family homes $2,200,000, up 30% YOY (from one year ago)
Condos $744,500, up 29%

Closings
Single family homes 9, up 28%
Condos 34, down 46%

Average sale price compared to original listing price
Single family homes 104%, up 11%
Condos 99.2%, up .7%

Average days a home stays on the market
Single family homes 24 days
Condos 31 days

Supply and demand
Months of supply single family homes 2.67 months, up 33%
Months of supply condos 1.25, up 78%

New listings
Single family homes 12, up 20%
Condos 45, up 7%

Active listings
Single family homes 24, up 50%
Condos 71, up 82%


Housing Market Activity for St. Pete Beach, Treasure Island 33706

 
Pic of my new listing at 205 Brightwater Featured Properties (homesforsaleinclearwaterbeach.com)

Average sale price
Single family homes $987,000, down 7.1%
Condos $505,000, up 31.2%

Closings
Single family homes 20, down 16%
Condos 35, down 44%

Average sale price compared to original listing price
Single family homes 99%, up 3%
Condos 97%, down 1.4%

Average days a home stays on the market
Single family homes 12 days
Condos 21 days

Supply and demand
Months of supply single family homes 1.86 months, up 260%
Months of supply condos 1.38, up 121%

New listings
Single family homes 30, up 30%
Condos 46, down 13%

Active listings
Single family homes 54, up 260%
Condos 76, up 117%


Housing Market Activity for Indian Rocks-Indian Shores Beach and Belleair Beach 33785


Photo taken from across the intracoastal in Belleair

Average sale price
Single family homes $1,300,000, up 63% from June 2021
Condos $700,000, up 35.2%

Closings
Single family homes 3, down 81%
Condos 25, down 3.9%

Average sale price compared to original listing price
Single family homes 98%, down 3.4%
Condos 98.8%, down 1.8%

Average days a home stays on the market
Single family homes 45 days
Condos 10 days

Supply and demand
Months of supply single family homes 1.86 months, up 178%
Months of supply condos 1.03, up 121%

New listings
Single family homes 12, up 33%
Condos 24, no change

Active listings
Single family homes 13, up 116%
Condos 32, up 128%


Housing Price Trends Communities Inland
If you would like to know more about these or other communities send me an email or text with your specific requests, and I will respond within 24-48 hours.

St. Petersburg Inland 33702
Average price single family $375,000, up 13.8% from one year ago
Condo $200,500, up 67%

Dunedin
Average price single family $500,000, up 17%  
Condo $312,000, up 24%

Clearwater Inland
Average price single family $392,500, up 12%  
Condo $250,000, down 30%

Largo
Average price single family $363,000, up 25%  
Condo $350,000, up 62%

Safety Harbor
Average price single family $564,000, up 19%  
Condo $255,000, up 24%

Tarpon Springs
Average price single family $430,000, up 24%  
Condo $283,500, up 25%

Thank you for taking the time out to read this month’s housing market report.  From all of us at the Beachwise Real Estate Team, we appreciate you.  Please provide any feedback you might have as we are always looking for ideas and ways to better serve you.

 
Kristin Vincelli, 727-686-1596

Tom Smith, 727-776-3375