 |
|
|
|
|
|
|
|
|
|
 |
|
||||||||
 |
 |
 |
|
||||||
 |
 |
 |
 |
 |
 |
 |
|
||
 |
|
||||||||
 |
 |
 |
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
|
||||||||||||||
 |
 |
 |
|
||||||||||||
 |
|
||||||||||||||
 |
|
||||||||||||||
 |
|
||||||||||||||
 |
|
||||||||||||||
 |
|
||||||||||||||
 |
|
||||||||||||||
 |
|
||||||||||||||
 |
 |
 |
|
||||||||||||
 |
|
||||||||||||||
 |
 |
 |
 |
 |
 |
 |
|
||||||||
 |
 |
 |
|
||||||||||||
 |
 |
 |
 |
 |
 |
|
|||||||||
 |
 |
 |
|
||||||||||||
 |
 |
 |
|
||||||||||||
 |
 |
 |
|
||||||||||||
 |
 |
 |
|
||||||||||||
 |
 |
 |
|
||||||||||||
 |
 |
|
|||||||||||||
 |
 |
 |
|
||||||||||||
 |
 |
|
|||||||||||||
 |
|
||||||||||||||
 |
 |
 |
 |
|
|||||||||||
 |
 |
 |
|
||||||||||||
There are currently
1,089 properties over $1,000,000 listed in the MLS, nearly equally divided
between single family homes (565 and condos-townhouses-villas (526).
101 properties, approximately 10% are under contract - 22 single family
and 79 condos. Last year 360 properties sold, showing about a 3 year
supply. The supply of single family homes is 2.5 years (224 sold) and
the supply of condos is 3.9 years. If you view the supply from a three
month history rather than a year, the figures change and you have increase
from a 3 year supply to just over 4 years (50 months). This breaks down
to a 42 month supply of single family homes and a 63 month supply of
condos.
There are far fewer properties in Pinellas County over $5,000,000. There
are 16 properties listed, all single family homes. There were 2 sales in
the last year, thus, statically, an 8 year supply.
Having said all that, I need to warn you that the data is skewed, primarily
by two factors:
1) Since Pinellas County is almost totally built-out, much new construction consists of buying a home in a prime location, tearing it down, and building a new one (flood restrictions often preclude a remodeling). Most of these would appear only as a sale of the old property, i.e. the land value, and then construction is done through the owner contracting with a builder - the amount of which is not recorded. Accordingly, most new construction of luxury homes appears neither in the Multiple Listing System nor in the public records, at the actual value.
2) Luxury condos are a fairly new phenomenon in Pinellas County, and many of the condo figures include pre-construction contracts, sales that were contracted a couple of years ago, and active listings that may not be built for another year or two. In addition, many new condos are NOT included in the MLS, so again, full statistics are not readily available.
For these reasons, and many more, please contact an agent experienced in the area and price range you're seeking. Contact that agent BEFORE you contact a builder or model center, so that you can be assured of representation - it generally won't cost you any more, and can provide many benefits.
