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Updates from the Tom Smith Team
October 2016 Visit my Website | Tom@TomSmithTeam.com
 

Pinellas County Real Estate Statistics for August 2016

 

As summer starts to transition to fall, we continue to see the market heating up. This past month has shown us some hot stats and we are excited to share some of the highlights of the Pinellas County Housing Market. New Listings for Single Family for August 2016 were 1,512, an impressive increase of 15.9% from last August, when they were 1,305. New Listings for Townhome/Condo for August 2016 were at 852, up 10.8% from 769 in August 2015.
 
Median Sale Price for Single Family was up a staggering 22.4% at $222,000 this August, versus $181,399 last August. Median Sale Price for the Townhome/Condo segment was down 4.8% from last year, at $128,950 for August 2016 versus $135,500 for August 2015.
 
Median Time to Contract for Townhome/Condo was 46 days in August 2016, down 20.7% from 58 days last August. Median Time to Sale for Townhome/Condo was 85 days this August, versus 99 days in August 2015, a -14.1% change year-over-year.
 
Median Time to Contract for Single Family was down 12.9% year-over-year, going from 31 days in August 2015 to 27 days in August 2016. Median Time to Sale for Single Family was 73 days in August 2016, almost even with August 2015, which was 74.
 
The number of Closed Sales for Single Family and Townhome/Condo combined for August 2016 was 2,045, up 8.3% from 1,888 in August 2015. Year-over-year, closed sales for the Single Family segment were up 5.9%, and Closed Sales for the Townhome/Condo segment were up 12.6%. New Listings for Single Family and Townhome/Condo combined were up 14.0% for August 2016 over August 2015, at 2,364 versus 2,074 last year.
 
Dollar Volume for Single Family was $356.5 million in August 2016, an exciting 27.1% increase from $280.4 million in August 2015. Dollar Volume for Townhome/Condo was $146.6 million in August 2016, up 12.7% from $130.1 million in August 2015.

Eight Out of the Ordinary Homes

 
Commemorating 250 years of auction house history, Christie’s Out of the Ordinary sale is a celebration of the unusual, the unique, the extraordinary, and the exceptional. The sale will feature more than 90 lots of rare collectibles, selected for the intriguing stories that surround them, and belonging to some of the most famous people in history. To mark this auction highlight, Luxury Defined presents eight homes that are each within themselves a work of art, but above all, are most certainly de facto “out of the ordinary.” Read More

Are Home Energy Audits Worth It? 

 

Offers for free or low-cost home energy audits are everywhere, but are these home assessments worth your time? Home energy audits are totally worth it, and fall is an ideal time to have an energy assessment performed: you'll receive actionable advice on staying comfortable in cooler temperatures. Learn what to expect when getting a home energy audit and how these audits can help you save money all year round. 

What Happens in a Home Energy Audit
These audits typically last two to four hours, depending on the size of your home and the complexity... Read More

Five Ways to Evaluate a Home Offer

 

Receiving an offer for a house is not the final step in a real estate transaction. In fact, it is the beginning of another stage in the process: the negotiations. After receiving a formal offer, the seller reviews it and then responds to the potential buyer. A counteroffer may follow then further negotiations until a deal satisfactory to both parties has been arranged.
 
It is important to do a careful evaluation of each offer. Here are five tips for evaluating a real estate offer:
 
1. Look Beyond the Basic Amount Offered.
Obviously, the purchase price is the key piece of information in the offer. However, other offer elements may impact the total amount of money you'll receive in the transaction. For example, if the buyer asks that certain items... Read More

Inexpensive Autumn Décor Accents

 

Fall is the season of bountiful harvests. Transform your décor with rich color and warmth. Here are a few ways you can add fall accents to your home:

Get Ornamental Gourds
And not just the requisite pumpkin for the porch, but several small-to-large ornamental gourds to be used as a dining room table centerpiece, as a coffee table prop, and even to place here and there on bookshelves. Ornamental gourds come... Read More

October Housing News: Forecasting a Positive Fall

 

Freddie Mac's Multi-Indicator Market Index (MiMi) monitors the stability of the housing market by analyzing home purchase applications, payment-to-income ratios, on-time mortgage payments, and employment statistics. In June, the national MiMi value saw only a slight improvement from a month earlier, climbing 0.08 percent to 85. A MiMi value this high represents a housing market that, according to Freddie Mac, is "on the outer range... Read More

Five Problems Most Homeowner's Insurance Doesn't Cover

 

Policies for homeowner's insurance usually take several pages to explain the circumstances that are covered under the policy guidelines. Most homeowners don't bother to take the time to read through them, even when they attempt to submit a claim. Here is a look at some of the situations that most homeowner's insurance doesn't cover, unless you obtain a rider (i.e., add-on) policy that does.
 
1. Termites and Other Pests
Most insurance companies do not offer... Read More

Featured Listings

1370 GULF BLVD, #803
CLEARWATER

2,381 sq. ft. 3 bed, 3 bath
$1,050,000
Interactive Floor Plan


1480 GULF BLVD, #112,
CLEARWATER BEACH

1,394 sq. ft. 2 bed, 2 bath
$450,000
See Virtual Tour
UNDER CONTRACT!
530 S GULFVIEW BLVD. #704
CLEARWATER BEACH

1,803 sq. ft. 3 bed, 2 bath
$615,000
See Virtual Tour
1794 STABLE TRAIL 
PALM HARBOR

2,253 sq. ft. 4 bed, 2 bath
$349,000
Interactive Floor Plan
SOLD!
1400 GULF BLVD. #710
CLEARWATER BEACH

1,392 sq. ft. 2 bed, 2 bath
$477,500
See Virtual Tour
1520 GULF BLVD. #1107
CLEARWATER BEACH

1,579 sq. ft. 2 bed, 2 bath
$649,000
See Virtual Tour

818 HARBOR IS
ISLAND ESTATES

2,666 sq. ft. 4 bed, 3 bath
$965,000
Interactive Floor Plan
SOLD!
1430 GULF BLVD. #508
CLEARWATER BEACH

1,341 sq. ft. 2 bed, 2 bath
$400,000
See Virtual Tour


1560 GULF BLVD #1505
CLEARWATER BEACH

1,374 sq. ft. 2 bed, 2 bath
$675,000
See Virtual Tour
67 WINDWARD IS
ISLAND ESTATES

3,489 sq. ft. 5 bed, 3.5 bath
$1,800,000
Interactive Floor Plan
1480 GULF BLVD #1007
CLEARWATER BEACH

1619 sq. ft.  1 bed, 2 bath 
$525,000
Interactive Floor Plan
3210 GULF BLVD. #108
BELLEAIR BEACH

1,050 sq. ft. 2 bed, 2 bath
$299,900
See Virtual Tour


1430 GULF BLVD. #412
CLEARWATER BEACH

1,380 sq. ft. 2 bed, 2 bath
$465,000
Interactive Floor Plan

Tom Smith, Coastal Properties Group International LLC, 423 Mandalay Avenue, Suite 102, Clearwater Beach FL 33767 The material in this publication is provided for your informational purpose only and is not intended to substitute professional advice. If your property is currently listed with a Real Estate Broker, this publication is not intended as a solicitation.



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