Pinellas County Housing Supply October 2018

You may hear friends and family talking about the real estate market, giving their opinion as to whether it is hot or not.  When you have questions and want facts, contact me and I would love to chat with you about what our market is truly doing.

Pinellas County Housing Supply:

Months of supply is the measure of how many months it would take for the current inventory of homes on the market to sell, given the current pace of home sales. For example, if there are 50 homes on the market and 10 homes selling each month, there is a 5 month supply of homes for sale.

Months of supply is a good indicator of whether a particular real estate market is favoring buyers or sellers. Typically, a market that favors sellers has less than 6 months of supply, while more than 6 months of supply indicates an excess of homes for sale that favors buyers.

In Pinellas County we had 75,441 listings for the month of October and 17,786 sales.  Where does this leave us?  Are we in a sellers market or a buyers market?

Looking forward to your responses and please don’t hesitate to ask questions.  I would be happy to provide you with the statistics, current and relevant information for yourself and to share with your friends and family members.