SUMMER NEWSLETTER, 2018

*Pinellas County Real Estate Market Trends
*Coastal Concerns
    Red Tide
    Flood Insurance
*My Real Estate Promotions

 

Greetings….
People from up North, like I was once upon a time, laugh when I tell them Florida has seasons. I see it now, the daylight shines at a different angle, the sky has a different hue, the air a different feel, the clouds a different shape, our season changes soon.

And before it does, greetings with this Summer Newsletter!

I appreciate this summertime along our coast more each year, perhaps part of growing older. Even our most scorching hot summer days close with magnificent serenity. Sunsets along our Gulf coast seem more incredible the more I watch them, a 360 degree panorama from one perch on the dunes. This photo looks south from 26th Avenue in Pass-a-Grille…how clever of the sun, to ignite a brilliant explosion in the southern sky when it has already set in the western horizon.

 

Pinellas County Real Estate Market Trends…

Last week David Bennett, President and CEO of the Pinellas Realtor Organization, reported July statistics and year over year, there is no let down in median sales price and time to sale for single family homes or townhome/condos. “The median Sales Price for Single Family Homes was up by 4.2% from last year, at $250,000 for July 2018 versus $240,000 for July 2017. The Median Sale Price for Townhomes/Condos was $164,900 for July 2018, up 3.1% from $160,000 in July 2017. The Median Time to Sale for Single Family Homes was 61 days this July, down 7.6% from 66 days last July. Median Time to Sale for Townhome/Condo market was 72 days in July 2018 and 74 days in 2017, down at 2.7%.

The Average Sale Price for Single Family Homes rose from $312,210 in July 2017 to $320,584 in July 2018. The Median Time to Contract for Single Family Homes was 22 days in July 2018, up 15.8% from 19 days last July. The Months Supply of Inventory for Single Family Homes increased 12.0% year-over-year, with a 2.8 Month Supply this July, as compared to a 2.5 Month Supply in July 2017. New Listings for Single Family for July were 1,312, down 9.4% from last July, at 1,448. The Active Listings for Single Family Homes rose 2.4% from 3,049 in July 2017 to 3,122 in July 2018. Dollar Volume for Single Family Homes increased 1.6% year-over-year, with $383.1 million in 2018 versus $377.1 million in July 2017. Year-over-year, Closed Sales for the Single Family were down 1.1% with 1,195 in July 2018 versus 1208 in July, 2017. Paid in Cash sales for Single Family increased 12.6%, from 294 in July 2017 to 331 in July 2018.

The Average Sale Price for Townhome/Condo was $225,849 in July 2018, down from $226,638 in July 2017. The Median Time to Contract for Townhome/Condo market was 31 days. It was 32 days in July 2017. The Months Supply of Inventory for Townhome/Condo fell 3.4%, from 2.9 months in July 2017 to 2.8 months in July 2018. New Listings for Townhome/Condos for July 2018 were at 793, up 4.8% from 757 in July 2017. Active Listings for Townhomes/Condos dipped 5.9% from 2,178 in July 2017 to 2,050 in July 2018. Dollar Volume for Townhome/Condo saw a 2.7% increase year-over-year, with $170.2 million in July 2017 compared to $174.8 million in July 2018. Closed Sales for the Townhome/Condo segment rose 3.1% year-over-year, at 751 in July, 2017, versus 774 in July. Paid in Cash Sales for Townhome/Condo decreased 2.0% from 410 in July, 2018.”

 

Local beach real estate markets are moving much as they have the past year, though perhaps less seasonally that we have experienced in the past. I see properties sell readily, then some not so fast, low inventory nudging prices upward, amid price reductions and “back on the markets.” The property with the properly-targeted price sells faster.

Click  the following link for market data in the Pass-a-Grille area for the past 3 months of summer:
https://mfr.mlsmatrix.com/DE.asp?k=3031873XRWZH&p=DE-300747420-510&L=1

My website has a program anyone can use to search MLS real time, or create a comparative market analysis for your home. Call me for help to assimilate the information to meet your specific goals, or we can research property not only in your backyard, but all over the world!
http://GulfToGlobalRealEstate.com

 

Coastal Concerns…

Red Tide:
Up to now our coastal summer weather has been benign, our beaches mostly clear and sparkling. Beaches south of us have not been so fortunate with the Red Tide event, and we are watchful in Pinellas County as this algae bloom lurks off shore. So far we have had minimal signs of its effects, no toxic air, albeit some dead fish washed up a few days ago. There have been no reports that red tide has come on to any of our beaches. So far we are blessed. Be alert of course, but help spread this word. Here is a link to a site where residents and visitors can check conditions at all Gulf Coast beaches…. Click on “beaches” to find your town. As of this morning my beach, Pass-a-Grille, is green flag, water conditions clear, no signs of red tide. https://visitbeaches.org

Flood Insurance:
Doug Izzo,legislative director at the Tampa Bay Beaches Chamber of Commerce, has again shared his research of flood insurance issues. He and the Chamber President have authorized my forwarding it, noting no further updates are expected until November. Here is a link to the most current information, with thanks to TBBCC:
http://www.tampabaybeaches.com/flood-insurance.html.

 

 

My Real Estate Promotions…

18132 NASSAU POINT DRIVE TAMPA, FLORIDA, 33647 Offered For Sale At $198,000		LUXURY WATERFRONT 3/3/2 CONDO, GATED COMMUNITY, ST. PETE BEACH …$925,000
Vacation At Home!… in this elegant 3 bedroom/2.5 bath/1 car gar. home on the very popular Nassau Point cul-de-sac in a beautiful PUD Community, Heritage Isles….and for $40 per year, enjoy security and a maintenance free lifestyle with an 18 hole Championship Design golf course, ponds, lakes, lighted tennis courts, volley ball and basketball courts, restaurant/clubhouse, new gym facility, park, playground, and huge family pool. This is a very private unit which backs onto a conservation area, a lovely natural cypress hammock. Unit is upgraded with handsome engineered wood flooring throughout, ceramic tile in kitchen and baths, granite countertops, stainless steel appliances. The comfortable layout includes a foyer entrance, downstairs guest half bath, full laundry room near upstairs bedrooms, open kitchen with eat- in area and pantry, spacious great room and private screened porch. Affordable monthly HOA fees include roof and reserves, insurances, maintenance,pressure washing, painting, landscaping maintenance, water, security patrol. Close access to I-75 and USF, malls, and restaurants.		…this is the first Boca Sands Condo unit available in months!… OPEN HOUSE Sunday, August 26, and Sunday, September 2. 1 to 3 P.M. Look for my associate at the call box or call Joan’s cell 727-580-0822. 5301 GULF BLVD., UNIT F507. $925,000. COASTAL LIVING at its best! Luxury Boca Sands condo, St. Pete Beach, gated community, 2 master suites with balconies, 3rd bedroom plus 3rd full bath, plus private foyer, office, butler’s pantry, laundry, formal dining room, great room, 2 enclosed garages. Dramatic views over open Intracoastal, across the street from the Gulf of Mexico. Click this link for more information…