The housing market statistics are in for July from the Pinellas Realtor Organization, and they affirmed what many of us already knew… we are still in a very strong seller’s market.
1. Average Sale Price: $400,000
This is an increase of 11% from last July’s average sale price of $361,000
2. Housing Inventory: 1.5 Months Supply
A normal housing market’s supply is 5-6 months. We are down 42.3% from last years’ 2.6 months.
3. Median Time To Contract: 18 Days
We are down 35.7% from last years’ 28 days
What does this all mean for you?
Sellers...The market is very strong and sellers are receiving top dollar for their houses and they are going quick due to the low inventory.
Buyers...Don’t be discouraged. Just understand that it’s likely that you will be in a multiple-bidding situation. But don’t worry, The Jonesy Group will let you know how to make the best offer to get the house.
If you’re thinking about buying or selling, we would love to chat with you and offer a “no-strings-attached” free home evaluation. As always, remember it's a process, and we're here to help. 727-331-9565