Total residential property sales rose by almost 16% from June 2011 to June 2012, and median sales prices rose by 4.5% over the same time period. Total active listings fell over 30% for the same time period.
Financing had virtually no change over the last 12 months as cash accounted for almost 60% of all
transactions and conventional financing accounted for 25% of all transactions.
Single family sales rose nearly 17% and the median sales price rose by 8% from June 2011 to June 2012.
Listings continued their decline, sliding 32%. The month’s supply of inventory (MSI) declined over 50% to 3.4 months. To put that number in perspective, a 6 month supply of inventory is considered a normal market.
In the condo market, sales were up just over 14% and the median sales price was up 13% over the last 12 months. Active listings fell by 30% and pending sales were down 4.8%. The month’s supply of inventory for condos dropped from 9.2 months to 5.2 months over the last year.
The number of days a property stays on the market rose drastically over the last year, reflecting the
problems buyers and sellers are having with banks. For short sales, days on market increased by 56%,
while non-distressed properties days on market increased by 19%.Statistics provided by Pinellas Realtor Organzation
For Graphic Results check:
http://www.pinellasrealtor.org/userfiles/files/stats/monthly_analysis/June-2012-Pinellas-County-Residential-Real-Estate-Report.pdf
