RED HOT Pinellas County Real Estate Market Statistics, Jan 2016

[Jeff Copeland]

All signs point to a red hot market in St Peterburg, Clearwater, and elsewhere in Pinellas County Florida and the Tampa Bay region for 2016 in this Jan 2016 Market Status from Pinellas Realtor Organization.

Some highlights:

• The new year started strong for Pinellas County real estate, with January 2016 stats showing more new listings, fewer days on market, and Median Sale Prices way up from January 2015. 
• Average Sale Price for a single family home was way up, at 18.6%, in January 2016 when it was $263,728, versus $222,350 in January 2015.  
• Median Sale Price for Single Family was $193,500 this January, versus $156,500 last January, a huge increase of 23.6%. 
• Median Sale Price for the Townhome/Condo segment was also way up from last January, at 15.2%, showing $124,450 for January 2016 versus $108,000 for January 2015. 
• Months Supply of Inventory for Single Family is down 21.5% from last January, with a 3.4 month supply this January as compared to a 4.4 month supply in January 2015. 
• Active listings for January 2016 Single Family and Townhome/Condo combined were 7,010, down 9.6% from 7,753 in January 2015.

[Paula McDonald]

Yes, "Red Hot!" Went to a listing yesterday in Largo for a possible flip. Agent was smart in listing at lowball price in an area w/comps in 225k range then asking for H & B within 4 days. Photos would make you think there's 20-25k or so worth of rehab. (actual around 40k) There were so many people there I felt like people must feel when they're in line at Walmart on Black Friday!! All good, all part of this game called REI.