January 2019 Clearwater Beach and Belleair market single family homes from $400,000 to 1,700,000.  The data indicates the single-family market is still strong.  The average sale price in 2018 for our market was $734,731 compared to $715,364 in 2017.    The absorption rate for December was 13%.  There were 87 active listings in December and 95 in January.  There were 11 closed sales and 11 new listings in December.  There has been a total of 29 closings in this range since October and 54 new listings.  Months of inventory decreased from 20 in November to 9 in December.  The average median sale price for December was $690,000 down 9% from the 12-month average.  

The condo market is still strong based on the recent data.  Property values in our market are increasing but at a slower pace.  Our data here is for the Clearwater Beach and Belleair market condominiums from $400,000 to 1,000,000.  The median sale price for December was $645,000.  The average sale price for the last 12 months is $594,000.  The average sale price for 2017 was $546,999.  The absorption rate for December was 17%.  There are 104 active listings to date.  There were 17 closed sales and 22 new listings in December.  Months of inventory was 6 for December down from 8 in November.  In 2018 there were 216 closings in this range compare to 194 in 2017.

The economy in Florida is healthy with optimism remaining at a high level.  Historically the next few months, March through August, have the highest absorption rates.  If that trend continues, we could see an increase in closings.

With our best,

Tom Smith Team
Over $100 Million Sold!