March 2018 Real Estate Statistics for Pinellas, Hillsborough, Pasco, Sarasota & Manatee Counties

I am fortunate to be a real estate correspondent for Bay News 9 and appear every few months to give a market update.

I am scheduled to tape with Bay News 9 tomorrow morning and was putting together my stats today and the results, again, were quite shocking as they were the last time I did them!

For reference – “Inventory” is the number of homes available for sale at a given time.  Typically 6 months of inventory is considered a balanced market – neither a seller’s nor buyer’s market.  Above 6 months is a a buyer’s market and below 6 months is a seller’s market.

We are at the lowest inventory numbers we’ve seen in over 12+ years since pre-housing boom – so an extreme seller’s market***.  I say this with a *** for a reason.  Homes under about the $500,000 price point are flying off the shelves.  However once you start getting over $500,000 – and even into the $1,000,000+’s – there is a lot more inventory.  And I do mean A LOT.  I would say above $1,000,000 we are in a buyer’s market, below $500,000 in a Seller’s Market – and in between – well – more of a balanced market.   In the stats below, Closed Sales are down in Hillsborough and Pinellas, I believe, because there are so few homes available.