St. Pete, Clearwater Housing Inventory Upticks in February

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According to the Pinellas Realtor Organization, housing inventory continues to increase in the Pinellas County (Greater Clearwater and St. Pete regions of Florida) market during the month of February. There are 121 more active listings (Inventory) for February than in January. Closed sales in February are up from January by 159 closings.
 
Closings paid in cash are also up in February. There were 120 more paid in cash closings in February versus January. The chart below shows that new pending sales have increased 6.8% year over year and new listings have increased 4% year over year from February 2013.
 
David Bennett, CEO of the Pinellas Realtor Organization said, "We are interested to see what the statistics will be next month since the US Senate passed The Homeowner Flood Insurance Affordability Act by a vote of 72-22 in March. The bill will now be sent to President Obama for his signature. Both US Senators Nelson and Rubio voted in favor of the bill. We believe that the support shown to help bring an affordable solution to homeowners will boost confidence in the real estate market."
 
Key Pinellas County Florida market Highlights for February 2014 include:
 
Single Family Homes Stats (percent change year over year)
 

• Closed sales are down 3.3%
• Cash sales are down 2.9%
• New pending sales are up 13.6%
• New listings are up 7.5%
• Median sales price is up 8.7%
• Median days on market is up 5.0%
• Inventory is up 8.9%
• Foreclosure closed sales are up 41.8%
• Short sale closed sales are down 55.0%

 
Townhomes/Condos (percent change year over year)
 

• Closed sales are up 4.9%
• Cash sales are down 2.2%
• New pending sales are down 2.6%
• New listings are down 0.9%
• Median sales price is up 7.2%
• Median days on market is down 16.7%
• Inventory is down 4.4%
• Foreclosure closed sales are up 22.1%
• Short sale closed sales are down 73.6%