Before providing you with a market report for Clearwater Beach condos I’ll go over the statistics for the entire Pinellas County real estate market as I do every month.
Overall sales went down in August. In some years August does see a drop and in some it doesn’t. But the significant thing was that even though there was a drop it still stayed in the higher range we seen lately and it was still noticeably higher than every other August since 2006.
(Click on either chart below to see full-sized.)
Fortunately, new listings continued to increase as more sellers are finding it to be a good time to sell and the overall inventory for the county increase slightly to back where it was in June.
Information for charts above was taken from PRO/Suncoast MLS from Jan 2007 thru May 2011 & from the MFRMLS for May 2011 thru August 2013. This information may or may not include all listed expired, withdrawn, pending or sold properties of one or more members of the My Florida Regional Multiple Listing Service.
Both of these show a continuation of positive trends: sales continue to stay strong and inventory, though still too low, is on the increase.
Based on this, I would say that prices will continue to increase but as I’ve said before I believe that the rate of increase will start to slow down soon and will be more in normal levels once the inventory levels get above 4 months and get closer to 5 months.
New Market Report
I have begun using a new tool that allows me to provide a monthly market report for a specified zip code and gives several statistics plus a summary. I’ve put a link here for you to check out the report for Clearwater Beach condos through July 2013 – and if you’re interested in receiving this on a regular basis, please email me to let me know.