The Pinellas Realtor Organization recently released Pinellas County real estate statistics for May 2014.
Combining the statistics for single-family homes and townhomes/condos, closed sales and cash sales have increased each month since January, according to the report. There were 89 more closed sales in May than in April and 729 more closed sales in May than in January. The month of May also saw 333 more cash sales than January and 11 more than in April.
Townhomes/condos are at 5.5 months supply of inventory for the third month in a row indicating a balanced market of inventory. Single-family homes sit at 4.8 months supply of inventory for the third month in a row indicating a sellers' market.
The report details the following single-family home statistics, percent change year over year:
Closed sales are up 7.7 percent
Cash sales are up 8.5 percent
New pending sales are up 23.4 percent
New listings are up 9.1 percent
Median sales price is down 1.4 percent
Median days on market is up 11.8 percent
Inventory is up 9.6 percent
Foreclosure closed sales are up 65.1 percent
Short sale closed sales are down 55.3 percent
The report goes on to detail the following townhomes/condos statistics, percent change year over year: