May 2015 Pinellas County Market Report

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The month of May did not show as much an increase from last year as March and April did but it did still have a noticeable rise of almost 10%. We are now in a higher range than we have been since the market fell back in 2006 and the trend is continuing. I think June will be an interesting month to watch just based on my own contracts scheduled to close in June. I have twice as many contracts scheduled to close in June than in the highest month since I became a Realtor and if that is any indication of what June will be like we should see a strong increase over last year just like we did in March and April.

Since May didn’t have as big a jump as March and April, the inventory level was able to show a slight increase and is the first time in the last 6 months we weren’t below the lows set in late 2012 and all of 2013.

I think we’ll see very strong June and July sales and then will see a slowing in August and/or September due to the changes coming on August 1st that will affect closings and add additional time to the process from contract to closing.

Here are the graphs so you can see for yourself (click either graph to see full sized):

Pinellas County Residential Real Estate Sales Graph Jan 2007 thru May 2015
Pinellas County Residential Real Estate Inventory Graph Jan 2007 thru May 2015

(Information for charts above was taken from PRO/Suncoast MLS from Jan 2007 thru May 2011 & from the MFRMLS for May 2011 thru May 2015. This information may or may not include all listed expired, withdrawn, pending or sold properties of one or more members of the My Florida Regional Multiple Listing Service.)

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