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.

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