Here is what you need to know about the housing market in Clearwater Beach, Island Estates and Sand Key Beach through March 2024.

The market is in the buyers favor at this time.  The summer months are historically slow we do not expect any changes to current trends.  The big question is the 2024 election and the emergence of the BRICS currency challenging the dollars reserve currency status.  Historically elections have not had much of an impact on the real estate market on the beach.  The demand for homes will always be high along the beaches so we expect the real estate market to do just fine even with the uncertainties around the corner.  

Median sale prices have seemed to stabilize around the 5-year average after reaching all-time highs in 2023.  
Condominium $635,000, down 15.9% YOY, (5-year average $618,020), all time high $965,000 June 2023
Single Family Homes $1,425,000, down 20.8% YOY, (5-year average $1,397,000), all time high $3,200,000 November 2022

Spotlight:  Fewer closings than a year ago, homes on the market longer and supply is approaching all-time highs.
Closings 42, down 28.8% YOY
Average days on the market 93, 
up 111.4%
Active listings 302, 5-year average 159
Months of supply 
7.6, 5-year average 3.7

Summary Clearwater Beach Condo Market
The all-time price high was reached in June of 2023 at $965,000.  Since then prices have come back down to just near 5-year average of $618,020 signaling a return to normal is in play.  In March the median sale price of $635,000 increased 6.7% compared to last month and a decrease of 15.9% from March 2023.  Homes are staying on the market 88 days up 7% from last month.  There were 62 new listings this month, up 1.6% from last month and just above the 5-year average of 57.

Summary Single Family Homes Clearwater Beach
Prices reached all-time highs in November 2022 of $3,200,000 and since then have corrected to nearly 5-year averages of $1,397,000.  In March the median sale price was $1,425,000, representing a decrease of 16.7% compared to last month and a decrease of 20.8% from March 2023.  The average number of days on the market for homes sold in March was 111 days, 15% above the 5-year March average of 96.  The average sold price to original listing price is down to 84.1% well below the 5-year average of 90.9%.

What it's like living in Clearwater Beach!
Beautiful Weather, Sugar Sand Beaches, Plenty of Fun Activities All Year Round, Amazing Restaurants and Gorgeous Sunsets!  

This sunset picture was taken at the Opal Sands outside restaurant.  A great place to go anytime.  The live music was excellent and the food amazing.  The views are not too shabby either.

A pic of the 18th hole on the historic Belleair County Club.  What a view overlooking the intracoastal and Sand Key Condos across the water.  It costs about $140 to play a round with a member.  Membership will run you about $70k per year.

If you found this report helpful and would to be added to our email list, please contact stephen@beachwiserealestate.com.  In the coming weeks and months we will be analyzing different communities both along the beaches and inland in hopes of keeping you informed so you can make the right choice if you are considering buying or selling.  It is our pleasure to serve you and the community here.  We love real estate in the Clearwater area and look forward to serving you in 2024!